Why do 90% of Product of the Year winners come back the following year with new products? And 44% of them even enter more products that they did the first time?
Because Product of the Year is more than just a feel-good award – it’s a powerful ROI tool. The numbers speak for themselves. A recent TNS survey conducted with U.S. shoppers found that:
- 59% of shoppers would buy a new product if endorsed by over 50,000 consumers just like them;
- 25% of shoppers are more likely to buy a product featuring the POY seal on its packaging than if it simply said “New!”
- 36% of shoppers said they are more likely to believe a product ad featuring the POY seal backed by over 50,000 consumer votes.
Product of the Year winners can use the awards seal on all advertising, point of sale and communications materials for 24 months following their win. And so far no one has been disappointed. Here are some case study examples:
- 10-15% average sales increase reported by winners across the globe
- 135% over-year sales increase reported by 2005 UK Hair care winner Pantene
- 120% year-over-year sales increase reported by 2006 UK Hair Care winner Herbal Essences
- 15% sales increase reported by 2005 UK Facial care winner Neutrogena
- 106.4% sales increase reported by 2007 Spain Dishwashing winner Calgon