In recent months, the number of customers selling diamonds has surged, leading PNJ (Phu Nhuan Jewelry) to invest over 7 trillion VND to buy back diamond products from consumers. This trend reflects a growing sentiment among consumers looking for safer investment options amid market fluctuations.

As transactions began to decline, PNJ adjusted its buyback process and introduced new exchange options. Customers can choose between exchanging their diamonds for new products or receiving cash payments over a structured timeline. The cash option involves a payment plan spread over 120 days, with the first payment of 10% made immediately, followed by subsequent payments of 20%, 25%, 25%, and 20%.

Many customers are accepting significant markdowns to sell their jewelry, with losses ranging from 20% to 25% of the original purchase price. A customer from Ho Chi Minh City shared her experience of trading nearly 300 million VND worth of jewelry for gold, stating, "I sold my diamond and incurred a loss of about 30 million VND, but I feel more secure with gold, which I believe will appreciate in value."

PNJ's new policies have also encouraged customers to exchange diamonds for 24K gold, offering attractive buyback rates of up to 90% of the invoice value. This shift is largely driven by concerns over market volatility and a desire for more stable assets.

Despite the stricter procedures and longer payment timelines, customers have reported positive experiences with PNJ's service, citing the staff's helpfulness and adherence to pricing commitments. This evolving landscape in the jewelry market highlights a significant shift in consumer behavior as they navigate the uncertainties of the economy.