PNJ wins Best Retail Marketing Award for the second consecutive year

For the second consecutive year, Phu Nhuan Jewelry Joint Stock Company (PNJ) has won the Best Retail Marketing award at Marketing Events Awards 2023. The top criteria for the award included creativity and agility in retail marketing strategies and execution.

Over the past year, PNJ has left its mark with several highly personalised marketing campaigns and innovative ideas. Each campaign launched by PNJ has been meticulously researched and tailor-made to maximise customer engagement and satisfaction.

Tran Nguyen Phi Long, head of retail marketing, represented PNJ Group to receive the Best Retail Marketing Award 2023.

Winning this award over the past two years is a testimony to PNJ's effective retail marketing journey, which is built upon market understanding, in-depth competitor research, and customer relationship management. Concurrently, PNJ has been concentrating on exploring and implementing new ideas to boost customer demand, enhance quality, and improve marketing operational efficiency while maintaining cost-effectiveness.

PNJ’s Best Retail Marketing award for 2023.

The period of 2018 to 2022 was a remarkable growth phase for PNJ which has seen it become the leading retailer in the Vietnamese market. Leveraging modern technology and an accelerated expansion system, PNJ has opened nearly 400 stores nationwide, breaking numerous records despite market fluctuations and challenges, especially in the aftermath of COVID-19.

In 2022, PNJ achieved a revenue of VND 33,876 billion, a more than three-fold increase, with a post-tax profit of VND 1,811 billion, a 2.5-fold increase compared with 2017.

Based on business results for the first eight months of 2023, PNJ has recorded a profit of VND 1,247 billion, surpassing 64.4% of the previous year's plan, in a market environment characterised by “economic headwinds”.

Le Tri Thong, vice chairman of the board of directors, and CEO of PNJ, said: “These awards are evidence of PNJ's practices in company regeneration, brand repositioning, and transitioning from a fine jewellery craftsman to a jewellery retail store over recent years, resulting in concrete outcomes.

“Perseverance, commitment to authentic values, along with innovation and creativity, have helped the PNJ brand etch itself into customers' hearts, continuously enhancing its value over the past few years.”

In a statement to MARKETING-INTERACTIVE, Tran Nguyen Phi Long, head of retail marketing at PNJ, added: “In the midst of global and local market volatility at the close of 2022 and throughout 2023, our unwavering commitment to our initial objectives and our ability to pivot with the shifting tides have been our driving force.

“The success of our campaigns, marked by a high degree of creativity and a relentless focus on elevating customer satisfaction, serves as tangible proof of our accomplishments, recognised by prestigious marketing awards.”

Outstanding awards in the field of retail marketing serve as a recognition of the relentless efforts in finding modern marketing strategies for the retail industry, and marks the development of Vietnamese businesses by showcasing their achievements to a global market.