Product of the Year (POY) is a consumer product award that rewards innovation and is voted on by consumers. POY was created to champion innovative consumer products 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 three decades, our winners have enjoyed an average sales increase of 10-15%.
There are three things that make POY completely unique:
100% Consumer-Voted. There are no experts or lab coats involved. Products are voted on entirely by a nationally representative sample of Indian consumers.
100% Independent. The competing products have no other interest in being included other than to put their product to the test of consumers. There are no advertising discounts or packaged deals that often come with magazine awards.
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.
Over the past three decades, POY has gained unquestionable credibility thanks to the following attributes:
Focus on Innovation. POY exists to help guide shoppers to the best new innovative products as determined by consumers just like them. For winning products, this is not only an acknowledgment for innovation in the eyes of the industry but a proven ROI tool.
Nationally Representative. Pan India consumers are independently recruited by Nielsen to represent the national grocery shopping population. These people are not affiliated with magazine subscriptions and are 100% bias-free.
Over three decades of history. Founded over three decades ago in France, Product of the Year has long been the standard of consumer confidence around the world.
Over 40 Countries. POY is a powerful concept that works in every market. Over the past three decades, we’ve grown to over 40 countries and are still growing.
Research. Our research partner Nielsen conducts a study with a representative sample of the Indian population – therefore reflecting the opinions of the nation rather than a group of subscribers to one magazine or volunteers.
We are currently accepting entries for products that were launched since 1st January 2020. Products must demonstrate 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.
We accept entries from products 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 (e.g. less sugar) or new packaging (e.g. 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.
We partner with the leading global research company Nielsen, to survey a nationally representative sample of respondents. The survey is designed to assess consumer opinions on innovation, use, satisfaction and purchase intent of the competing products, with innovation being the strongest factor.
Yes. There is no limit on how many products from one brand can be entered, as long as they meet the criteria above.
The general broad categories of product entries we accept include Food and Beverage, Health and Beauty, Personal Care, Household Products, Home Hygiene, Pharmaceuticals, Small Appliances, and Electronics, etc. The exact category names are determined by Nielsen 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 pocket perfumes/deodorants and bronzing lotions did not exist several years ago but now represent some of the best innovations).
We work with Independent Research Agency Nielsen to make sure only comparable products compete with each other and there are never less than two products in a category.
Entry to Product of the Year is Rs. 1.25 lac + GST (Rs. 1 lac + GST if entered before 15th October). This fee pays for itself in the form of a research report prepared by Nielsen based on the results in each category. Regardless of the outcome, you receive this report in exchange for participation.
If your product is voted Product of the Year, there is a winner fee of Rs. 10 lacs + GST (not optional) that allows promoting the win and using our logo in any type of media for one year. If the winner opts to extend the use of the logo for the second year, then an additional fee of Rs. 8 lacs + GST will be applicable.
Winners have found numerous ways to benefit from POY over the past decades, 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.
- All finalists receive a Nielsen research report regardless of the outcome.
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 the sales force 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 an example.
Product of the Year was founded in 1987 in France by former L’OREAL executive, Christian LeBret.
Product of the Year currently exists in over 40 countries.