Before the basic salary increase on July 1, 2023, besides the excitement, people are also concerned that the prices of essential consumer goods and services in daily life will also be adjusted to increase according to salary.
With only a few days left until the basic salary increase on July 1, 2023, together with ministries, branches, Ho Chi Minh City authorities and the local business community have proactively implemented many solutions to stabilize prices, avoiding the psychological impact of unreasonable price increases.
In particular, through various promotional activities and discounts on essential consumer goods, the city's industry and trade sector ensures price stabilization.
According to the Price Management Department, Ministry of Finance , price management always closely follows market developments, but for situations such as increasing the basic salary or some special developments, scenarios and plans will be developed with some specific adjustments suitable to the new situation.
In addition, price management ensures price control in accordance with the inflation target set by the National Assembly , while paying attention to strategic and essential consumer goods in life.
From a local perspective, Mr. Nguyen Nguyen Phuong, Deputy Director of the Department of Industry and Trade of Ho Chi Minh City, said that currently in Ho Chi Minh City, a concentrated promotion program is taking place in 2023 and will last until September 15, 2023. The program has the participation of about 3,000 businesses, over 7,000 promotional activities, with diverse forms of consumer stimulus.
Through this program, the business community will proactively carry out a variety of discount activities for a wide range of essential consumer goods. Consumers can "hunt" for quality products at attractive prices, because the promotion range is up to 100% and is much higher than many other programs during the year.
Notably, the base salary increase on July 1, 2023 falls during the 2023 Ho Chi Minh City's concentrated promotion program, so some experts believe that it will have a "double" effect in stabilizing the price market and contributing to controlling inflation. Because businesses respond to the program simultaneously, bringing products to the market at preferential prices will create a ripple effect in the market, limiting the situation of "price increases following wages."
According to experts, the current low purchasing power in the market in recent times will also be a certain barrier for production and business units that want to adjust prices at this time. On the other hand, instead of the strategy of increasing prices, many production and business units show plans to increase sales, expand the market and find more outlets for their products.
Acknowledging the reality of the market, accompanying local authorities, businesses, and retailers in Ho Chi Minh City, not only responded to the 2023 concentrated promotion program of Ho Chi Minh City, but also increased two and three consumer stimulus activities at the same time.
These retailers implement consumer stimulus activities in most product categories or focus on incentives according to market consumption trends.
Typically, the Ho Chi Minh City Union of Trading Cooperatives (Saigon Co.op) organizes the promotion program "Vietnamese Family - Green Power" from now until July 12, with 2,860 products discounted from 28-60%. Among them, the consumer stimulus activity responding to "Shopping Season 2023 - Enjoy shopping - Race to shop" has a discount of up to 60%, applied to technology products, clothing, household appliances, chemicals, etc.
At the same time, Saigon Co.op also carries out a series of activities to stimulate consumption for many product lines such as technology products, appliances, clothing; fresh food... Or we can mention the utilities that Saigon Co.op has increased implementation during this period, including: hunting for bonus stamps - redeem gifts immediately; hunting for promotional codes from 10,000-50,000 VND...
Meanwhile, at the MM Mega Market center system, responding to the 2023 concentrated promotion program of Ho Chi Minh City, there are a series of great promotions with more than 2,000 items. Accordingly, consumers can participate in shopping promotions such as buy 2 get 1 free, golden hour shock price, 40,000 VND flat price promotion, weekend super sale with discounts up to 90% and multiply MCard accumulated points.
In the past time, MM Mega Market has been implementing two price campaigns considered the biggest of the year at all MM Mega Market centers. The wholesale price campaign is for 40-50 fresh food items, with good preferential prices like wholesale markets and the product list will be updated continuously after 2 weeks. The Price Lock campaign is for 500-700 food items and essential necessities, with the product list updated after 3 months.
According to Mr. Bruno Jousselin, CEO of MM Mega Market, it is expected that from July 2023, MM Mega Market will continue to implement the second round of wholesale and price locking campaigns with the participation of more diverse essential items and private label products.
In addition, MM Mega Market also develops its own branded products and wholesale large-size products to meet changes in customer shopping behavior after the pandemic, providing customers with shopping experiences at the most optimal prices.
Talking to VNA reporters, many people in Ho Chi Minh City said that since the beginning of 2023, not only have prices of essential consumer goods tended to increase, but many products and services have also been adjusted to follow the upward trend.
So before the basic salary increase on July 1, 2023, besides the excitement, people are also concerned that the prices of essential consumer goods and services in daily life will also be adjusted to increase according to salary.
Ms. Thanh Xuan, residing in District 1, Ho Chi Minh City, shared that with the current market economy context, people are looking forward to the local government's price stabilization policy mechanism, as well as the cooperation of relevant parties in price management and inflation control.
Among them, if the state management agency has multi-channel distribution and retail in the supply chain of essential consumer goods, people can access preferential products and services from the market stabilization policy mechanism and ensure a better life through the implementation of social responsibility of the business community./.
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