Product of the Year (POY) is the only consumer product award that rewards innovation and is voted by consumers. POY was created to give shoppers a shortcut to the very best new products on the market. It's not only a prestigious award but a proven ROI tool. Over the past 27 years, our winners have enjoyed an average sales increase of 10-15%.
There are three things that make POY completely unique:
1.The people who vote on products are picked by a leading Research Company that makes sure this sample represents the country's population.
2.POY is designed to reward innovation in consumer products
3.POY is not limited to a small category like cosmetics or food. All consumer packaged goods are eligible to participate because the ultimate purpose is to provide shoppers with a symbol that guides them to the best products in any category backed by the confidence of 100,000 others just like them.
Products that have been launched in the past 18 months are qualified to apply. Products must demonstrate an innovation in one of the following (but not limited to): function, design, and packaging.
If you have a great product, it doesn't matter if it's been out almost the full year or is just about to launch.
If you're not sure, give us a call and we can help figure out if you should be entering.
We partner with a leading research company to survey a nationally representative sample of shoppers. The survey is designed to assess consumer opinions on innovation, usage, satisfaction and purchase intent of the competing products, with innovation being the strongest factor.
The general broad categories of product entries we accept are Consumer Packaged Goods, including Food and Beverage, Health and Beauty, Household Products, Pet Supplies, Pharmaceuticals, etc. The exact category names are determined after all entries are received. Because this is an award for innovation, the categories are often driven by innovation trends of the preceding year. (For example, products like clinical-strength deodorants and bronzing lotions did not exist several years ago but now represent some of the best innovations).
We work with a leading research company to make sure only comparable products compete with each other and there are always 2-6 products competing in each category.
Winners have found numerous ways to benefit from POY over the past 27 years, but here are a few of the key benefits we've observed:
Increased Sales: There has never been a winner who did not witness an increase in sales. From an average lift of 10-15% to a whopping 135% reported by Herbal Essences, being voted the best by real consumers is sure to increase product sales.
Increased Distribution: Many of the winners, especially smaller manufacturers, choose to leverage the award with their retailers and business partners to increase shelf space and distribution.
Powerful News: Winning POY is not only NEW News, but POWERFUL news. If your product just recently launched, it's the perfect message to add to your breaking marketing efforts. If the product has been out for a while, it's a new reason to talk about it. Think of it as the Oscars: everyone is familiar with the movie but there is a whole new reason to talk about it.
The role of the Jury is to evaluate all product entries and make sure only the truly innovative products go on to the consumer research phase. Jurors do not vote on the products, but help ensure that they meet the innovation and "new to market" criteria. Globally, our Juries include national distinguished industry experts representing retailers and media associations.
Product of the Year was founded in 1987 in France by former L'OREAL executive, Christian LeBret.
Product of the Year currently exists in 43 countries, making its most recent debut in Canada, India, South Africa, Australia and Japan.