CALLING FMCG INNOVATIONS!

The nation’s largest consumer vote on product innovation is back! For those looking to increase sales without relying on discounts, be sure not to miss the chance to enter Product of the Year 2012 to ensure your brand carries the ultimate seal of approval.

Now in its 8th year, the distinctive Product of the Year logo is the ultimate vote of consumer confidence as part of the largest and most representative survey of its kind. Research shows the Product of the Year logo is recognised by 67% of UK consumers and with 44% of shoppers more likely to buy goods carrying the logo, it’s the perfect way to ensure your product stands out1.

As an indication of Product of the Year’s selling power, new research from Kantar Worldpanel reveals that the 14 winning products from 2009 achieved an average of £9.2m in sales in the 12-month time period, against an average new product which achieves less than £1m after one year of its launch2.

Winners of this prestigious award typically see a 10-15% increase in sales, with some enjoying even greater success, such as Herbal Essences which saw a 135% YOY increase in sales3.

The Product of the Year awards are free to enter for any product or product line launched within the past 18 months. Entries received before the 1st July will receive a 15% early bird discount if the product passes the Jury Day test and is submitted to the research stage to be voted Product of the Year 2012.

CEO of Product of the Year Management, Mike Nolan, says “We’re really proud to be able to offer consumers a point of reference in an increasingly competitive FMCG market and, with new research reaffirming that winning brands stand to see their sales rocket, it seems like everyone’s a winner! If you think you’ve got a winning product for 2012, why not put it forward to see if the nation agrees?