From “sleepless nights” to economic-cultural model

In the context of the economy facing many challenges, organizing concentrated promotional programs, such as "Hanoi - Sleepless Night" or Black Friday events, not only stimulates consumer demand, promotes the domestic market, but also contributes to ensuring economic growth targets.

These programs are an instant stimulant for the market, creating a sudden surge in purchasing power in a short period of time, helping businesses boost inventory consumption and quickly turn over capital. Data from previous years shows that in months with major promotional events, the growth in total retail sales of goods and consumer service revenue is often higher than in normal months.

For manufacturing enterprises, this is a great opportunity to promote their brands, reach a huge customer base and test new sales models, thereby prioritizing and promoting the consumption of domestically produced goods in the spirit of "Vietnamese people prioritize using Vietnamese goods".

The success of the first Autumn Fair 2025, which has just ended, has opened up a new perspective. While promotional programs often focus on pure prices and transactions, the first Autumn Fair 2025 integrates cultural, culinary and experiential activities, creating a shopping space with a strong identity and community. This combination has helped to prolong the time customers stay, increase the ability to shop spontaneously and, more importantly, enhance the consumer experience.

In order for year-end promotional events to truly create a sustainable boost, Hanoi needs to shift from simply organizing promotional campaigns with discounts to building a smart, comprehensive consumer stimulus strategy. The Department of Industry and Trade plays the role of conductor, requiring participating businesses to commit to real discounts, quality goods and public information, while also building a centralized electronic information portal for consumers to easily look up.

In addition to the promotional points concentrated in large shopping centers, it is necessary to expand the golden promotional points to suburban areas and new residential areas to ensure inclusiveness and create conditions for small businesses and craft villages to participate. In particular, it is indispensable to apply technology, integrate online and direct sales, and organize large-scale concentrated livestream sales sessions to expand the reach.

The most fundamental solution is to connect the economy with culture - "Each product has a story". It is necessary to turn "Hanoi - Sleepless Night" into a shopping and experience festival. Integrate street art activities, music, and fashion shows right in the shopping space, creating an exciting atmosphere, attracting tourists and residents.

At the same time, encourage and support businesses and production facilities (especially those with OCOP products - One Commune One Product Program, typical rural industrial products) to tell stories about the origin, production process and cultural value of the product. When consumers buy an item, they are not only buying the product, but also buying the cultural value and story behind it.

Instead of just being a global Black Friday, Hanoi's event needs to be built into a separate brand, attracting international tourists with a unique combination of modern shopping and the culture of the thousand-year-old capital.

The harmonious combination of price stimulation (promotion) and creating experiential value (culture) is the key to creating strong, sustainable boosts, contributing to ensuring the year-end growth target, affirming the position of the Capital as a major economic and commercial center of the country.

Source: https://hanoimoi.vn/tu-dem-khong-ngu-den-mo-hinh-kinh-te-van-hoa-722415.html