The Product of the Year endorsement, based on the largest ever national consumer research of its kind, is a powerful tool in driving awareness and sales of innovative FMCG products. Previous winning products have seen typical sales increases of 10 – 15%, with some products enjoying even greater success. Additionally, all Finalists receive the research report from Nielsen with the results of the country’s largest survey on innovation. If you do not win, then there is absolutely NO COST.
Below is a summary of the costs:
Product Entry: Free
- Early Settlement (Payment by 31 January 2017): ZAR199,500 (One Hundred and Ninety Eight Thousand and Five Hundred Rands)
- Late Settlement (Payment from 1 February 2017): ZAR205,000 (Two Hundred and Five Thousand Rands)
What is the Finalist Fee? Before being reviewed by 5,000 consumers, entered products are put in front of a Jury panel of industry experts and members of the media who make sure the submissions meet innovation criteria. Products that pass this step are put into the consumer research and must pay the Finalist Fee.
**Win or lose, all Finalists receive the results of this study with information on their category and the most recent grocery shopping trends.
What is the Winner Fee? All Finalist products are put into the nation’s largest research study on product innovation with 5,000 consumers. Consumers vote on products in each category based on innovation appeal, use, satisfaction and purchase intent. Products with the highest score in each category are named Product of the Year winners.
***The winner fee pays for logo use on all communications for one year.
When Will I know My Status? Finalists will be notified after their products have been put through to the consumer research stage of the competition. Winners will be confidentially notified at the end of November and can prepare marketing efforts to start at midnight of the Awards Night in February.
When Do I Get the Award? Winners and Finalists will be invited to the Awards Night to find out the winners and celebrate innovation. The PoY 2017 Awards evening is currently planned for February 2017.