The largest consumer survey reveals the most innovative products in the country recently revealed by the world’s largest consumer-voted award for product innovation celebrating its 9th edition this year. Established in France in 1987, Product of the Year (POY), operating in 45 countries around the world, 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, touch it, read the label, 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 POY, as it extends the award to the service sector. Among the winners in this category 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
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 by, 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 R&D, as well as revise and redevelop their products in order to meet consumers’ needs. Although this requires significant funding, studies have shown a positive link between R&D investment and profitability.”Add to Favorites