New Consumer Insights on Innovative Products

August 23, 2013

Product of the Year USA has just released its TNS conducted consumer survey...

Product of the Year USA has just released its TNS conducted consumer survey of 50,000 consumers, which  asks about which important factors would influence their decision to try a new product innovation. Colleen Kelly, Managing Director of POY reported that the priorities of survey participants made several key shifts between the years of 2010 and 2013. 

When looking to purchase a new product, respondents identifying better value, better nutrition and products that improve their overall health as influential factors noticeably increased during this time frame. These shifts clearly prove that value is more important than ever before while also reflecting society’s growing interest in living a healthier lifestyle. Unsurprising in today’s fast-paced culture, respondents interested in products that save them time also increased, which points to efficiency as an additional concern among shoppers nationwide. However, the most notable change was a 9 percent increase in participants who would be influenced to buy a new product that was the recipient of an award. 

 Hosted in 38 countries worldwide for more than two decades, Product of the Year is the world’s largest consumer-voted program that recognizes innovation in consumer products.