What is Product of the Year?
Product of the Year (POY) is the only consumer product award that rewards innovation and is voted on by consumers. POY was created to champion innovative products in the FMCG sector and 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 25 years, winners have enjoyed an average sales increase of 10-15%.
Product of the Year (POY) is not about creative awards, campaign effectiveness, media excellence or branding. It is purely about championing new and innovative products.
How is Product of the Year different from other awards?
There are eight things that make POY completely unique:
Focus on Innovation. POY exists to help guide shoppers to the best new innovative products & services as determined by consumers just like them. For winning products & services, this is not only an acknowledgment of innovation in the eyes of the industry, but a proven ROI tool.
100% Consumer-Voted. There are no experts or lab coats involved. Products & services are voted on entirely by a nationally representative sample of Malaysian consumers.
100% Independent. The competing products & services have no other interest in being included other than to put their product to the test of consumers.
100% Transparent. Brands can participate only if they enter and once a brand wins, the award is theirs to use. We don’t ‘nominate’ brands or ask for a percentage of their sales if they win.
Nationally Representative. The 2,000 consumers who vote are independently recruited by The Nielsen Company to represent the national shopping population.
26 Years of History. Founded 26 years ago in France, Product of the Year has long been the standard of consumer confidence around the world.
42 Countries. POY is a powerful concept that works in every market. Over the past 26 years, they have grown to 42 countries and are still growing. Since 2008 they have made their debut in the U.S., India, South Africa, Canada and Australia.
Online & Face to Face Study. With 2,000 shoppers voting on products & services, POY conducts the Malaysia’s largest consumer survey on innovation. The research partner conducts this study with a representative sample of the population – therefore reflecting the opinions of the nation.
What products & services qualify?
We are currently accepting entries for products & services that were launched since Jan 1, 2015. Products & services must demonstrate an innovation in one of the following (but not limited to): function, design, 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.
How do you define innovation?
We accept entries from products & services that demonstrate innovation in their function, design or packaging. This could be a completely new type of product or a useful innovation to an older product or brand, such as a new ingredient, redesigned shape or size, new formula (eg. less sugar) or new packaging (eg. user-friendly or “green”). Remember, it does not have to be revolutionary as long as it makes consumers’ lives better/easier. Please contact us directly if you have questions about your product.
How are the winners determined?
We partner with leading global research company Nielsen, to survey a nationally representative sample of 2,000 shoppers. The survey is designed to assess consumer opinions on innovation, use, satisfaction and purchase intent of the competing products & services, with innovation being the strongest factor.
Can I enter more than one product?
Yes. There is no limit on how many products & services from one brand can be entered, as long as they meet the criteria above.
When can I enter?
Product of the Year 2016/17 opened for entries from August, 2015.
What are the categories?
The general broad categories of product entries we accept include Food and Beverage, Health and Beauty, Personal Care, Household Products, Pet Supplies, Pharmaceuticals, Small Appliances and Electronics, etc. The exact category names are determined by Nielsen and an independent panel of experienced judges 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 Nielsen to make sure only comparable products & services compete with each other and there are never less than 2 or more than 6 products & services in a category.
How much does it cost?
Entry to Product of the Year is free. If your product makes it through the Jury Selection, there is a finalist fee of RM5,000. This fee pays for itself in the form of a research report prepared by Nielsen based on the results in each category. Win or lose, you receive this report in exchange for participation.
If your product is voted Product of the Year, there is a one-time winner fee of RM25,000 that allows promoting the win and using our logo in any type of media for a full year. It also covers inclusion in our own PR campaign to support all winners.
NB: Once you enter you are committed to the whole process and fees.
What are the benefits of winning?
Winners have found numerous ways to benefit from POY over the past 26 years, but here are a few of the key benefits we’ve observed:
At the very least all winners are guaranteed the following:
- Use of the award seal on any communications for one full calendar year and inclusion into POY press release
- All finalists receive Nielsen research report regardless of outcome – a study worth RM20,000
On top of that, being able to use the seal allows you to:
- Use it in consumer-facing marketing campaigns to drive trial
- Use it in PR outreach as “new” news to secure media coverage
- Use it with salesforce and retail partners to increase visibility and distribution
- Use it in industry relations to support your company’s reputation for innovation
- Use it internally to boost morale and set example
And this is why we know it works:
- 25-year track history across the globe
- 10-15% average sales increase reported by winner
- 135% over-year sales increase reported by 2005 Hair care winner Pantene
- 120% year-over-year sales increase reported by 2006 Hair Care winner Herbal Essences
- 15% sales increase reported by 2005 Facial care winner Neutrogena
- 106.4% sales increase reported by 2007 Spain Dishwashing winner Calgon
Who are the Jury members and what is their role?
The role of the Jury is to evaluate all product entries and make sure only the truly innovative products & services go on to the consumer research phase. Jurors do not vote on the products & services in the final public research, but help ensure that they meet the innovation and new to market criteria. Globally, our Juries are comprised of distinguished industry experts representing retailers, media, innovation and packaging associations.
When was Product of the Year founded?
Product of the Year was founded in 1987 in France by former L’OREAL executive, Christian LeBret.
Does Product of the Year exist in other countries?
Product of the Year currently exists in 42 countries, making its most recent debut in USA, Canada, India, South Africa and Australia.
Who are the people behind Product of the Year?
|Harmandar Singh - CEO, Publisher, EventerHarmandar Singh, or better known as Ham, has been in marketing and brand communications for almost 30 years.He has created almost 400 commercials and won over 50 local and international creative awards. Ham has been a Creative Director for as long as he can remember.. Even after leaving advertising, he applies creativity every day in his life.He is …
|Christian Le Bret – Founder of Product of the YearChristian Le Bret is a French entrepreneur and founder of Product of the Year.With over 25 years experience in marketing, LeBret masterminded the launch of Product of the Year in 1989 with the aim to champion and reward product innovation in FMCG categories. The driving force behind the expansion of Product of the Year throughout Europe A winning formula, Product of the Year has existed in France for 20 years. LeBret’s previous marketing experiences include holding an executive marketing position at L’Oreal which led to his spending 5 years on the executive committee at SVP, France’s largest B to B service company. In 1987 LeBret resigned from the committee to head up Marketing Europe Management, MEM. It was LeBret’s belief that consumers should be give an opportunity to voice opinions about products they purchase daily in supermarkets, a belief which lead to the development and subsequent launch of Product of the Year.|