New and Innovative Products Invited to Enter Into the Nation’s Largest Competition of Consumer Packaged Goods

Articles
May 12, 2010

New and Innovative Products Invited to Enter Into the Nation’s Largest Competition of Consumer Packaged Goods

Calling All Consumer Brands; Product of the Year USA Accepting Entries for Third Annual Consumer-Voted Awards Program

Calling All Consumer Brands; Product of the Year USA Accepting Entries for Third Annual Consumer-Voted Awards Program

TNS Survey Finds Nearly 50% of Shoppers Would Try a Product Recommended by 60,000 Other Consumers
 
NEW YORK – April 26, 2010 –Consumer brands across the country are invited to enter their newest innovative products into the 2011 Product of the Year (POY) USA Awards.  Join the ranks of Procter & Gamble, Coca-Cola, Unilever, Nestlé, SC Johnson and others to participate in the nation’s largest consumer survey on product innovation conducted by TNS. 

Having earned the honor to wear the Product of the Year stamp, last year’s 14 winners (including Glade Sense & Spray, Colgate Wisp, Sprite Green, Secret Waterproof, Pantene Nature Fusion and others) are currently enjoying new media campaigns and amplified consumer exposure resulting in increased sales. Carrying the ‘Product of the Year’ stamp of approval increases a product’s credibility and consumer trial.  Research shows that the Product of the Year seal on packaging is 25% more effective at generating purchase intent than the word "new!"  Additionally, 36% of consumers are more likely to believe an advertisement featuring a Product of the Year seal.
 
“Supermarket shelves are overcrowded and stuffed with an abundance of products that look alike.  The POY stamp sets the best and most innovative items apart from the rest, guaranteeing a strong distinction for the world of consumer packaged goods,” said Phil Lempert, The Supermarket Guru ®.
 
“With a continuous increase of new products on store shelves, it is important to recognize that retailers are always looking for ways to eliminate clutter for shoppers; we want the most innovative products to stand out in store aisles,” said Colin Watts, Chief Innovation Officer Walgreens. “By giving shoppers the confidence to try a product for the first time, the Product of the Year stamp makes their life easier and helps both brands and retailers.” 

The 2010 Product of the Year survey found that 52% of consumers are looking for new products that provide better value for their money. This is a significant drop from 64% exactly a year before, suggesting that shoppers are shifting their focus to choosing products that are innovative and offer quality over a lower price point. 

“The Product of the Year logo is a powerful seal honoring the most innovative and relevant products from a variety of consumer product categories as voted on by over 60,000 shoppers alike nationwide,” said Colleen Kelly, Managing Director of Product of the Year.  “According to our most recent study, nearly 79% of respondents said they like to try new products, with more than 70% stating they would pay more for new products if they are satisfied with them. Product of the Year’s goal is to steer consumers in the right direction, by elevating and highlighting companies with truly innovative and quality products that consumers are interested in trying.”
 
Hosted in 28 countries for more than two decades, Product of the Year is the world’s largest consumer-voted program that recognizes innovation in consumer packaged goods.  For the third year, U.S. shoppers will be called upon to vote and select a new generation of winners who will earn the POY endorsement in their product category to be announced in February 2011.  The final deadline to submit entries is August 31, 2010.  To enter a product and for more information, please visitwww.productoftheyearusa.com


About Product of the Year: Product of the Year is the only consumer product award that rewards innovation and is voted on by real consumers. Established 24 years ago in France, POY currently operates in 28 countries with the same purpose: Guide consumers to the best products in their market and reward manufacturers for quality and innovation.  Backed by the votes of 60,000 consumers, the distinct red POY logo serves as shortcut for shoppers in the supermarket, saving them time and money. For manufacturers of the winning products, the award is a powerful marketing message proven to increase retail distribution and sales by an average of 10-15%. Product of the Year accepts entries every year from consumer packaged goods that demonstrate innovation and were launched within the previous year. Entered products are then placed into specific categories such as food, beverages, personal care, household care, etc. with a product then being chosen as a winner in its category through a nationally representative online study. For more information, visit www.productoftheyearusa.com.
 
About TNS:? TNS, which recently merged with Research International, is the world’s largest custom research agency, delivering actionable insights and research-based business advice to its clients so they can make more effective business decisions. TNS offers comprehensive industry knowledge within the Consumer, Technology, Finance, Automotive and Political & Social sectors, supported by a unique product offering that stretches across the entire range of marketing and business issues, specializing in product development & innovation, brand & communication, stakeholder management, retail & shopper, and qualitative research. Delivering best-in-class service across more than 70 countries, TNS is part of Kantar, the world’s largest research, insight and consultancy network. Please visit www.tns-us.com for more information. 
 
Media Inquiries:
Colleen Kelly                                                     Jamie Kronfeld
Managing Director                                             Account Coordinator
Product of the Year USA                                   MWW Group
212-213-0600                                                    646-351-8116
colleenkelly@productoftheyearusa.com            jkronfeld@mww.com