Established in France in 1987, Product of the Year, the world’s largest consumer-voted award for product innovation, celebrates its 9th edition this year. Operating in 45 countries around the world, POY has been pushing the boundaries of innovation for FMCG brands for the past three decades, contributing to brand storytelling and sales growth.
“In this day and age, consumers are more informed, and conscious, they look at the product, they touch it, they read the label, they research it online and read reviews. I firmly believe that with the POY logo, we are building a strong equity, with a credible sign of recognition, a real partnership with the brands, their role is to innovate, and we deliver this missing Storytelling about their products”, said product of the year CEO Middle East & North Africa Dory Kfoury.
2019 has been a special year for Product of the year, as it extends the award to the Service Sector. Among the winners in the Service Sector are the Super Rewards Loyalty Program by SGBL Bank, K-Store E-commerce by Khoury Home, and other products by Touch, LibanPost and LeMall. To view the list of winners, visit this link: (https://www.poymena.com/lebanon/winners-2019/)
Shortlisted by an expert committee, finalists were submitted to a national consumer-survey conducted by Nielsen, a global leader in consumer research. Based on the votes of 1,600 consumers, the top new products were defined in each of the categories, based on criteria of product innovation, attractiveness and Purchase intent. The Awards Ceremony revealed the winners during a glamorous gathering held on March 27th at Musichall
Zeina Estwany, Business Director Middle East at Product of the Year highlighted the importance of R&D in brand growth: “Product of the Year encourages companies to invest in Research & Development; and to revise and redevelop their products in order to meet consumer needs. Although this requires significant funding, studies have shown a positive link between R&D investment and profitability”
To learn more about Product of the Year: www.poymena.com / www.poyworldwide.com