Cool Product Awards 2024 held

The Cool Product Awards 2024, with the theme “Positive Branding - Sustainable Consumption,” was held by Tap chi Kinh te Viet Nam / Vietnam Economic Times / VnEconomy on December 20 in Hanoi, honoring the Top 10 Impressive Products and Services of 2024 and the Top 50 Cool Products and Services of Vietnam 2024, selected through the voice of consumers themselves.

Consumers today are redefining value, looking beyond product quality and price to embrace a more holistic purchasing experience. They are increasingly willing to invest in products that align with their values and lifestyles. This includes prioritizing items that are ethically sourced, ensuring they contribute to sustainable practices and fair labor standards. The modern consumer also expects brands to deliver not just a product but a relationship, for example by providing exceptional after-sales service that anticipates their needs and resolves issues with care and efficiency.

What truly sets a brand apart is its commitment to dedicated customer care that places the individual at the center of every interaction. Customers seek personalized experiences, feeling valued and understood at every touchpoint. Brands that go the extra mile to engage meaningfully, provide transparent communication, and foster trust are rewarded with loyalty and advocacy. In this new paradigm, the product is just the beginning; the story behind it, the support that follows, and the relationship it fosters define its true worth.

What sets this year’s awards apart is its focus on honoring trailblazing products and services that lead the charge in adapting to dynamic market shifts. From championing green initiatives and digital transformation to elevating the customer experience and upholding sustainable, responsible business practices, the winners embody the future of ethical and innovative consumption.

Promoting digitalization

Digitalization has emerged as a transformative force in advancing the vision of sustainable consumption, reshaping the way businesses connect with their customers and the environment. At its core, cutting-edge technologies like customer relationship management (CRM) systems, AI, and big data analytics are revolutionizing the retail landscape by offering far more than operational efficiency and are the architects of meaningful, personalized customer journeys.

These digital tools empower businesses to delve deeper into customer behavior and preferences, enabling tailored shopping experiences that resonate with individual needs and values. AI-driven insights, for instance, can predict trends and suggest sustainable choices, guiding consumers towards eco-friendly options. Big data analytics provides a roadmap for optimizing inventory and reducing waste, aligning consumption with environmental responsibility.

Moreover, digitalization enhances customer care, offering immediate and precise solutions to problems. Whether it’s through AI chatbots delivering 24/7 assistance or CRM platforms ensuring seamless follow-ups, technology is bridging the gap between expectation and satisfaction. By integrating these innovations, businesses are not only meeting the demands of the modern consumer but are also actively contributing to a sustainable future, proving that digitalization is not just a tool but a catalyst for impactful change.

In the race to embrace digital transformation and develop innovative omnichannel sales models, MM Mega Market has taken bold strides forward with its MMPro e-commerce platform tailored for B2B customers, the MM Click&Get service designed for households, and the MCard loyalty program. These strategic initiatives reflect the brand’s commitment to staying ahead of consumer demands, creating seamless and convenient shopping experiences for a diverse range of customers.

Lotte Mart has similarly positioned itself as a trailblazer in sustainable retail by prioritizing the optimization of the customer experience through digital platforms. Recognizing the future of shopping, Lotte Mart launched its online shopping application five years ago, which has since evolved into the highly-advanced Lotte Mart Online platform. This platform not only delivers rapid two-hour delivery but also incorporates smart features such as personalized shopping lists and scheduling tools, ensuring every order meets the highest standards of freshness and quality.

Such innovative efforts have not gone unnoticed. Both MM Mega Market and Lotte Mart’s forward-thinking strategies were recognized at the Cool Products Awards 2024, celebrating their contributions to redefining retail through digitalization and sustainability. Their achievements highlight the growing importance of integrating cutting-edge technology with customer-centric solutions, setting benchmarks for the future of the retail industry.

Community impact

Sustainable business practices have traditionally focused on reducing any environmental impact, with basic practices such as cutting waste, limiting plastic use, and adopting renewable energy. But today’s consumers are raising the bar. They expect businesses to go beyond eco-friendly initiatives and take meaningful social responsibility, addressing challenges such as working conditions and local community development. This shift marks a new era of sustainability, one where people and planet are equally prioritized.

Take WinEco as a shining example. More than just delivering premium clean produce, their high-tech farms are transforming both local livelihoods and environmental sustainability. Modern production techniques also enable the creation of fruit and vegetable products better aligned with market demand. By leveraging advanced technology and eco-friendly farming practices, WinEco has minimized soil, water, and air pollution while preserving soil health. These efforts not only safeguard native ecosystems but also provide thousands of local workers in the central highlands’ province of Lam Dong and mountainous Tam Dao district in northern Vinh Phuc province with stable, long-term agricultural employment and reliable incomes, fostering a sustainable future for the community.

In addition to generating employment, WinEco offers a range of training programs to enhance farming skills, enabling people in Lam Dong, Tam Dao, and elsewhere to quickly adopt scientific and technological advancements. Local workers, once accustomed to traditional farming methods like slash-and-burn and the use of chemical fertilizers and pesticides, have undergone a remarkable transformation through WinEco’s training programs, where they learned sustainable farming practices and the adoption of cutting-edge technologies such as greenhouse systems, automated irrigation, and drip irrigation. Today, these workers are not only experts in modern farming techniques but also take immense pride in their role in delivering fresh, clean, and high-quality produce to millions of Vietnamese dining tables.

Meanwhile, in the hospitality industry, the Angsana Quan Lan Ha Long Bay Hotel & Resort in Vietnam’s north exemplifies how sustainability can transform lives. “We are proud to create stable, year-round job opportunities for the people of Quan Lan Island,” said Ms. Nguyen Thi Nhan, the resort’s Marketing & Sales Director. For a community like Ha Long Bay that once relied heavily on seasonal fishing or tourism, this marks a significant shift.

But Angsana’s contributions extend further. Their team collaborates with local schools to provide free English classes, helping children develop essential skills for the future. Beyond this, the resort fosters meaningful connections between international tourists and the local community, offering visitors the chance to teach English and leave a lasting impact. “These interactions create a bridge between travelers and the community, enriching both parties,” Ms. Nhan explained.

From WinEco’s high-tech farms to Angsana’s community-driven hospitality, these efforts exemplify a broader commitment reflected in the Cool Products Awards 2024. This year’s honorees demonstrate that sustainable consumption isn’t just a trend, it’s a holistic vision for success. By blending environmental preservation, exceptional customer experiences, and tangible community contributions, these businesses are shaping a future where sustainability and social impact are at the heart of consumer trust and market leadership.