"Cutting" the profit share with customers.
Tet (Lunar New Year) is fast approaching. Flipping through the pages of her calendar, Ms. Ngo Thuy An, residing on Tan Ky Tan Quy Street (Tan Phu District), calculates that there are just over two months left until the end of 2023. “After a year of hard work, despite the difficulties, my husband and I still plan to visit our hometown, buy some dried fruit, and purchase a few new clothes for our parents and nephews… We planned this from the beginning of the year and saved 30,000-50,000 VND per day. Being well-prepared will lead to a happy Tet,” Ms. Thuy An confided.
Sharing the same sentiment, Ms. Nguyen Minh Thuy (62 years old, residing on Phan Van Tri Street, Go Vap District) is worried because in the past few weeks, many items at grocery stores have increased in price by 2,000-5,000 VND per product. However, Ms. Thuy said: "If you make the effort to go to large supermarkets, you can find good deals and high discounts. For example, the same type of cooking oil can be found at supermarkets with good discounts, reduced to less than 40,000 VND/liter; rice can be reduced to 15,000-20,000 VND/kg."
Amidst the hustle and bustle of the public, several retail chains such as Co.opmart, Satra, Go!, BigC, MM Mega Market, etc., are also accelerating their promotional programs with deep discounts on many items (rice, cooking oil, meat, fish, vegetables, fruits, cosmetics, etc.). Some items are discounted by as much as 49%, hoping for a big profit during this biggest shopping season of the year.
Representatives from the MM Mega Market system stated they are willing to "cut" some of their profits to share with customers. Ms. Nguyen Thi Bich Van, Director of Communications for Central Retail Group in Vietnam, informed that they will balance reasonable prices with many promotional programs for consumers to stimulate year-end purchasing power.
Representatives from the Co.opmart system shared that they are exploring all ways to boost sales, including maintaining reasonable prices along with attractive promotional and subsidy policies. According to Ba Huân Company, egg prices at supermarkets and shopping malls are currently favorable due to abundant supply. Vĩnh Thành Đạt Food Company is also continuously offering 10-20% discounts for its retail channels.
According to Mr. Truong Chi Thien, General Director of Vinh Thanh Dat Food Company, egg sales have decreased significantly since the beginning of the year, by about 15% compared to last year, especially eggs used for processing and baking. Most businesses hope that "cutting" profit margins shared with customers will help improve sales.
Let's join hands to welcome guests.
Businesses believe that the family reunion mentality during Tet will help improve year-end purchasing power, especially in the 2-3 weeks leading up to the Lunar New Year.
According to Mr. Nguyen Nguyen Phuong, Deputy Director of the Ho Chi Minh City Department of Industry and Trade, the demand for shopping and consumption at the end of the year tends to increase compared to normal, so most shopping malls and businesses prepare Tet holiday goods very early. The Department also coordinates with the Ho Chi Minh City Department of Tourism to promote and connect domestic and international tourists to Ho Chi Minh City for entertainment and shopping during the end of the year.
 |
| Consumers wait to buy discounted food at Emart supermarket in Go Vap district, Ho Chi Minh City. |
Some economic experts believe that the influx of local customers (people living and working in Ho Chi Minh City) enjoying leisure activities and shopping within the city will significantly contribute to revitalizing the year-end consumer market. Expectations also extend to overseas Vietnamese, as well as domestic and international tourists.
Ms. Mai Tu, a small business owner at Binh Tay Market (District 6), said that dried fruits, dried shrimp, sun-dried squid, etc., are very popular with tourists from the Central Highlands and the North. Australian and German tourists traveling independently also really like the freshly roasted and ground coffee sold at Binh Tay Market. Ben Thanh Market (District 1) and An Dong Market (District 5) also attract many international tourists who visit to buy fabrics for clothing, dried specialty fruits, etc. This is truly a positive sign, giving business owners more motivation. To prevent vendors from being left to fend for themselves, many market management boards (Ben Thanh, Binh Tay, An Dong, etc.) have joined hands to support vendors by guiding them in promoting their goods on Zalo, TikTok, Facebook, etc. An Dong Market even hires people to film and promote consumer goods and specialties on social media.
Mr. Tran Quang Duy, CEO of Penguin Travel Company, believes that the collaboration between departments, such as the Department of Industry and Trade and the Department of Tourism of Ho Chi Minh City, contributes to attracting tourists and gradually improving purchasing power. In the long term, it is necessary to upgrade the quality of services at traditional markets, address price gouging at retail outlets and street vendors; connect shopping malls and shopping areas, and diversify characteristic goods at reasonable prices…
According to estimates from relevant departments, tens of thousands of tons of goods and food of all kinds will be supplied to consumers in Ho Chi Minh City during the peak shopping season at the end of the year; simultaneously, dozens of tours and travel routes will take visitors to various destinations and entertainment areas in Ho Chi Minh City.
At many factories, goods are being busily prepared for delivery to supermarkets and shopping malls. Several neighboring provinces, such as Lam Dong and the Mekong Delta region, are also awaiting the day to bring their goods to wholesale markets and traditional markets in Ho Chi Minh City. A booming year-end shopping season awaits consumers and businesses alike.
According to data from the Ho Chi Minh City Statistics Department, tourism revenue in the first nine months of the year in Ho Chi Minh City is estimated at VND 125,288 billion, a 35% increase compared to the same period last year. Total retail sales of goods and consumer service revenue are estimated at over VND 871,000 billion, an 8.6% increase compared to the same period last year, and are projected to continue their growth momentum due to the impact of the increase in the minimum wage.
Source
Comment (0)