Tuesday, January 21, 2014

Competitions to come under scrutiny

In the process of making the ‘Excellence Score’ assigned to extra virgin olive oils equitable, Savantes is researching extra virgin olive oil competitions around the world with a view to including the most rigorous in the calculation of excellence.

The main criteria to be considered in the ranking of competitions will be:

  • Entries being accepted from all producing regions
  • Independence of the organising enterprise
  • Rigour of the entry process including compliance of the extra virgin olive oils with international quality standards
  • Experience, breadth and independence of the judging panel
  • Processes in place to ensure that the oils bearing award claims and sold to consumers are the same as those that won the awards
  • Retention of samples and processes in place to deal with any disputes i.e. Redress when an oil is deemed to be defective

The results of the research will be used to rank the competitions and available to users of the GOOD application.

Will ‘Value’ be the new aid to buying excellent extra virgin olive oil?

Value is a concept developed by Savantes to give consumers a realistic appraisal of the value for money of extra virgin olive oils presented to them on retail shelves.

Confronted with a range of positive and negative publicity surrounding the quality of extra virgin olive oils and the burgeoning award medals on bottles, quality seals and proprietary campaigns promoting new classifications such as ‘Ultra Premium’, consumers are understandably confused.

Value will give extra virgin olive purchasers a simple tool which gives extra virgin olive oils an ‘Excellence Score’ based on their performance in selected international competitions.

All the customer needs to do is enter the price of the oils on the shelf and the app does the rest, dividing the ‘Excellence Score’ by the price giving the Value. The customer can then get a GOOD idea of the high quality of the extra virgin olive oils being sold at a competitive price
For example: To qualify an extra virgin olive oil must be entered in at least 3 of the selected competitions.

Scores given are 5 for a Gold Medal, 3 for Silver, 1 for Bronze. The three highest scores are used if more than 3 competitions are eligible.

  • EVOO 1 wins 3 gold medals and has an excellence score of 15.
  • EVOO 2 wins 2 golds and a silver and has an excellence score of 13. 
  • EVOO 3 wins 2 silvers and a bronze has an excellence score of 7. 

Once we have an excellence score we can give a Value = excellence score÷price.

If the retail price for all the products is $/€/£10 for a 500ml bottle (it doesn’t make any difference which currency is used) the ‘Values’ will be:

  • EVOO1 – 15÷10 = 1.5
  • EVOO2 – 13÷10 = 1.3
  • EVOO3 – 7÷10   = 0.7