Indian Consumers Select Nation’s Best Product Innovations In Product Of The Year 2022
Product of the Year represents the highest standard of consumer confidence—here are the brands that Indian consumers picked
*This is in partnership with BQ Prime BrandStudio
The verdict is out on the best product innovations for the people, chosen by the people.
Product of the Year, the world’s largest award for product innovation based entirely on consumer voting, announced the winners of this year’s coveted consumer recognition in India. Innovations from leading brands such as Castrol, Emami, Greenply, Havells, Kellogg’s, Morphy Richards, Lloyd, Luminous, Bharti AXA, Tata AIA, Dr Reddy’s & Oswaal Books were chosen among multiple competing brands by thousands of Indian consumers.
Categories ranged from blended edible oil to engine oil for cars, and air coolers to ceiling fans, breakfast cereals to life insurance plans, among many others. As customers make purchase decisions, seeing the Product of the Year mark boosts confidence in the quality and reliability of the product.
Product Of The Year 2022: Winners across categories
The winners were selected through a consumer survey conducted by a leading market research firm NielsenIQ—research partner for Product of the Year since its inception in India 14 years ago.
What the winners think about Product of the Year
For the 2022 winners, winning the Product of the Year recognition was a badge of pride that recognised and rewarded innovation and quality.
“Winning the Product of the Year for Castrol Magnatec is an ultimate high…We’re really thrilled to have won this award,” Jaya Jamrani, vice president, marketing, Castrol, said.
Prashant Jain, CEO, Oswaal Books, said the award has “been a morale boost for the whole team.”
For Rajiv Kenue, executive vice president (SDA), Havells India, winning Product of the Year is “…a very impactful thing, which really helps us.”
“This title will disrupt the life insurance space and help us achieve even more volumes than in the past,” Samit Upadhyay, president - CFO and head of products and propositions, Tata AIA Life Insurance, said.
Sandhya Biswas, head of marketing, Morphy Richards India, thinks that winning Product of the Year is “definitely a great validation of our internal processes and our new product development.”
On their win, Varun Gupta, chief & appointed actuary, Bharti AXA Life Insurance said, "...external validation through Product of the Year is very critical for us. It gives customers confidence and is an independent stamp of approval.”
MV Ramana, CEO, Branded Markets, India & Emerging Markets, Dr Reddy’s Laboratories believes, “Product of the Year is an important validation. It not just helps us to understand that we are on the right path delivering value for our consumers, it also motivates our scientists and our marketeers to do more.”
Ruchika Gupta, vice president, marketing, Luminous Power Technologies said, “Product of the Year is an award that we completely cherish. It rewards the efforts and the energy that has gone into bringing an absolutely different and new innovation to the marketplace…”
Readers can see the winners’ interviews on Product of the Year’s YouTube channel.
Why Product of the Year is the best recognition for product innovation
With a legacy for over three decades globally and with a presence in over 40 countries, Product of the Year represents the highest standard of consumer recognition and confidence around the world. It helps steer consumers to the best products while rewarding winning brands for delivering innovation and the highest levels of quality.
Not only does the internationally recognised award help shoppers select the best product from a plethora of market offerings, but it also helps winners to build brand equity and aids in product differentiation by leveraging the POY seal in digital, offline, and integrated marketing campaigns.
The awards are customer-centric and only customers vote to select the best, with zero external involvement or interference. To ensure representation from across India, a national sample of consumers is ensured. The awards are also completely independent, which means brands compete for their products to be evaluated by consumers without advertising or other commercial interests coming in the way.
Product of the Year 2023 entries are now open. Click here to nominate your brand or know more.