Hosted in 28 countries, Product of the Year is one of the world’s largest consumervoted programs that recognizes innovation in consumer packaged goods. This is the fourth year Product of the Year was conducted in the U.S., with over 60,000 American shoppers voting on products. Winning products were announced at a ceremony held in New York City and shoppers nationwide will be able to recognize the winners by looking for the red “Product of the Year” stamp on packaging, advertising and in-store displays.
“Now more than ever, brands are focusing on implementing innovative solutions and creative strategies to stand out on shelves in a crowded consumer marketplace,” said Colleen Kelly, Managing Director, Product of the Year USA.
“Shoppers are more likely to buy a product that is recommended to them by their peers. Now in our fourth year in the U.S. and our 25th year worldwide, Product of the Year recognizes and honors groundbreaking products with an awards seal that is backed by real shoppers throughout the U.S,” Kelly explained.
According to the 2012 Product of the Year US Shoppers Survey conducted by research agency TNS, young consumers (under 35) are 33% more likely to try a product if it has won some kind of award. Additionally, younger consumers have more of a desire for new products.
“Innovation is the lifeblood for CPG companies,” said Phil Lempert, The Supermarket Guru. “As shoppers spend more time comparing product features and prices, the path to success and their shopping cart is a combination of differentiation and delivering on consumer value.”