PRODUCT OF THE YEAR LOGO RECOGNISED BY OVER HALF OF UK CONSUMERS:
ALMOST HALF OF UK CONSUMERS MORE LIKELY TO BUY GOODS WHICH DISPLAY PRODUCT OF THE YEAR LOGO; TYPICAL 10-15% RISE IN SALES FOR PRODUCT OF THE YEAR WINNERS; ENTER BEFORE 12TH JUNE FOR YOUR EARLY BIRD DISCOUNT!
[UKPRwire, Fri May 22 2009] New research conducted by TNS shows that the Product of the Year logo has seen a dramatic rise in awareness levels amongst UK consumers. After just five years in the UK, the trusted red logo is now recognised by over half (52%) of UK consumers, with 44% stating they are more likely to buy goods which display the logo.
As brands fight for prominence and survival in times of economic uncertainty, it has never been more important to leverage the endorsement of consumers and stand out from the crowd. With the loyal following of UK shoppers, the Product of the Year logo is the perfect tool to make sure your product shines ahead of the competition!
Product of the Year is the UK’s largest consumer survey on innovation, with over 12,000 people voting on the most innovative products in the market place. As the credit crunch continues to bite, there’s no better way for consumers to be sure the products they choose are right for them.
'After just five years helping UK consumers steer their way through the supermarket shelves, new research from TNS shows the Product of the Year logo is considered significantly more motivating to shoppers than products branded with the word “new”. Whilst browsing the shopping aisles, 19% more consumers state they are likely to buy products with the Product of the Year logo on, than those which display the word “new”.*'
The awards are free to enter to for any product or product line launched within the past 18 months, and for the first time this year, enter the awards by 12th June to ensure a 15% early bird discount if your product passes the rigorous Jury Day evaluation and reaches the research stages to be voted Product of the Year 2010.
Winners of this prestigious award typically see a 10 -15% increase in sales, with some enjoying even greater success. In 2006 Hair Care category winner Herbal Essences which saw a 135% yoy increase in sales**.
The strong influence of the award can be seen across a number of marketing campaigns which feature the logo in above and below-the-line advertising. It is estimated that the logo has been utilised in marketing campaigns with a total spend of over £30million*** and this year Product of the Year has hit the supermarket shelves in the USA, South Africa, India and Greece.
CEO of Product of the Year Management Ltd, Mike Nolan, says, “The Product of the Year Awards are going from strength to strength and are now recognised by over half of UK consumers. There really is no better way to make sure your products are recognised as the most innovative on the market. As everyone looks to tighten their belts this year the Product of the Year logo helps your products really stand out from the crowd. This year, don’t miss our great Early Bird discount and get your entries in by 12 June 2009.”
For more information on how to position yourself alongside the likes of Procter & Gamble, Unilever, Premier Foods, Beiersdorf and PepsiCo visit www.productoftheyear.co.uk
Enter your product direct at: www.productoftheyear.co.uk/ –
Deadline for Early Bird discount entries: 12th June 2009
Final entry deadline: 31st July 2009
For more information, interview opportunities and images please contact
Annie Tarling at Good Relations
atarling@goodrelations.co.uk/ 020 7861 3143
or
Simon Walsh at Good Relations
swalsh@goodrelations.co.uk/ 020 7861 3184
Notes to Editors:
Product of the Year is the UK’s largest independent survey into product innovation with over 12,000 consumers voting in a survey conducted by TNS.
The initiative has been running in the UK since 2005 and plans are currently underway to follow the success the scheme has seen around the globe, launching the awards in 15 new countries, including the USA, India, Japan, Brazil, South Africa, New Zealand and Australia. Winning manufacturers include Procter and Gamble, Reckitt Benckiser, Panasonic, PepsiCo and Del Monte, all previous winners.
Product of the Year at a glance:
• Established 22 years ago in France
• Currently in 20 countries around the world and growing
• Is an award for FMCG innovation including product function, design and packaging
• Average winner sales increase: 10 – 15%
• 90% of winners enter again each year
About TNS
TNS, who recently merged with Research International, is the world’s largest custom research agency delivering actionable insights and research-based business advice to its clients so they can make more effective business decisions. TNS offers comprehensive industry knowledge within the Consumer, Technology, Finance, Automotive and Political & Social sectors, supported by a unique product offering that stretches across the entire range of marketing and business issues, specialising in product development & innovation, brand & communication, stakeholder management, retail & shopper, and qualitative research. Delivering best-in-class service across more than 70 countries, TNS is part of Kantar, the world’s largest research, insight and consultancy network. Please visit www.tns-global.co.uk for more information.
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