Product of the year distinction comes to U.S.

LONDON U.K firm Product of the Year has brought its method of awarding innovation to the States.

Established 22 years ago, Product of the Year offers the only consumer product award voted on by consumers themselves. The distinction awards innovation—including function, design and packaging—and is now offered in more than 20 countries worldwide. The name of the game is ROI, and Product of the Year notes it has helped its winners enjoy an average increase of sales between 10% and 15%.

Here’s how it works: Entry is free and is open to all products launched in the United States over the past 18 months. A jury of industry professionals filters the entries, selecting those deemed most innovative to enter the final round of voting. Finalists pay a fee of $25,000, though in return finalists receive a detailed consumer research report by TNS—an $80,000 value. Then, 100,000 consumers from across America vote on which products deserve the Product of the Year title. Win or lose, a finalist receives the report in exchange for participation. Winners receive the rights to use the POY name, logo and reference the TNS survey in all marketing communications for a licensing fee for one year.

There’s still time to submit your products, as entries are accepted for 2009 Product of the Year winners until July 31. For more information visit www.productoftheyearusa.com or call (212) 813-6444.