According to a survey of supermarket systems and retail stores, Vietnamese goods currently account for 70-90% of total goods. The domestic market shows many signs of warming up.
Businesses increase investment in technology change
According to the General Statistics Office, since the beginning of the year, the domestic market has shown signs of warming up, with total retail sales of goods and consumer service revenue reaching VND3,625.7 trillion, up 8.7% over the same period last year. Of which, retail sales of goods reached VND2,801.1 trillion, up 7.4% over the same period last year.
The good news is that domestically produced products are gradually asserting their superiority as Vietnamese enterprises have proactively invested, changed to advanced technology, applied management science, saved indirect costs to improve product quality, create product diversity, reduce costs, increase product promotion..., thereby creating trust and pride in Vietnamese goods.
A survey by the Association of Enterprises, High-quality Vietnamese Goods also shows that the majority of sellers rate their enterprises’ products as meeting the standards of high-quality Vietnamese goods, which are purchased by many people (80%), having a reputable brand (60%), diverse product types (47%), and competitive prices (39%). Over 50% rate their enterprises as having many new or improved products in the past year. This shows that consumers increasingly trust and accept and use Vietnamese goods.
To stimulate domestic consumer market, promote production and business activities to contribute to economic recovery in the last months of the year, the Ministry of Industry and Trade has issued a Decision to organize the "National Concentrated Promotion Program 2024 - Vietnam Grand Sale 2024". The program is expected to take place from December 2 to 31, 2024; organized simultaneously nationwide by the Trade Promotion Agency as the focal point, in coordination with relevant units of the Ministry of Industry and Trade; Departments of Industry and Trade of provinces and centrally run cities; associations, industries; relevant enterprises and organizations.
Former Chairwoman of the Vietnam Retailers Association Vu Thi Hau said that the current domestic market is worth 180 billion USD and is expected to reach 350 billion USD by 2025. This is not only an opportunity for retailers but also an opportunity for Vietnamese goods to improve their position in the domestic market.
Ms. Hau assessed that the simultaneous organization of domestic consumption stimulus programs by localities as well as retail businesses expanding their points of sale will be an opportunity for Vietnamese goods to stand firm in the domestic market. However, according to Ms. Hau, to seize this opportunity, manufacturers must meet standards such as: ensuring food hygiene and safety, clear traceability and, most importantly, the product must have a green element.
Hanoi strengthens supply-demand connection
In Hanoi, in order to ensure adequate supply of goods, stabilize the market of essential goods during the rainy and stormy season, and at the same time, meet the needs of production and life of the people of the capital, the City People's Committee has issued an official dispatch directing on ensuring the balance of supply and demand of goods at the end of 2024 and the Lunar New Year 2025.
Accordingly, the groups of goods and the quantity of goods that need to balance supply and demand include: Rice, pork, chicken, duck, seafood, poultry eggs, processed foods, vegetables, sugar, cooking oil, spices, milk for children under 6 years old. Groups of goods with high demand during the Tet holiday season include Tet jam, candy, wine, beer, and soft drinks.
Along with ensuring essential goods at the end of the year, to stimulate consumption, especially domestic products, a representative of the Hanoi Department of Industry and Trade said that it will organize the Hanoi Promotion Month event with about 800 - 1,000 promotion points and 50 Golden Promotion Points. Participating businesses will have discounts from 30 - 100% on products.
Mr. Nguyen The Hiep - Deputy Director of Hanoi Department of Industry and Trade said that covering Vietnamese goods and creating conditions for Vietnamese goods to enter supermarkets has always been one of the department's key activities for many years.
Accordingly, many agricultural products and OCOP products have been connected and brought into the distribution system of Hanoi city, given priority in communication support, consumption promotion, and have been prioritized for selection and use by consumers, and have been recognized and highly appreciated by the provinces... "The implementation of activities to connect supply and demand of goods between Hanoi and provinces and cities has contributed to increasing the effectiveness of the campaign for Vietnamese people to prioritize using Vietnamese goods" - Mr. Hiep said.
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