Huge promotions, but Black Friday purchasing power is still low?

Stores, clothing shops, cosmetics shops... all hang up signs with shocking discounts and huge promotions. Photo: TP

Responding to the Black Friday program, the electronics supermarket chain on Nguyen Trai Street, Vinh City simultaneously reduced prices on household and technology products. Some items were posted with signs of deep discounts from 50-60%, some items were "buy 1, get 1 free" with attractive incentives such as free shipping, installation, gift vouchers...

Mr. Phan To Nhu, manager of the household appliances section of the electronics supermarket, said: “This is the deepest promotion of the year to stimulate shopping and increase year-end revenue. In addition to technology products, household appliances are also deeply discounted with a variety of types, making it easy for consumers to choose. During this discount week, household appliances increased sales by about 2 times compared to before. Of which, kitchen appliances have the strongest consumption.”

Household items attract many shoppers. Photo: TP

Choosing many essential items that are being promoted attractively at the supermarket on Le Nin Street, Ms. Tuyet Mai (Hung Binh Ward, Vinh City) said: “I often buy these items at the supermarket so I know the daily prices. Compared to before the promotion program, the prices have dropped deeply, many items are reduced by 30-50%. Therefore, I took the opportunity to buy many essential products to serve my daily needs at cheap prices, saving a lot of money”.

On this occasion, manufacturers, store chains, and supermarkets all have promotional programs for each product. The most popular stalls are fresh food stalls, essential items such as fish sauce, instant noodles, dishwashing liquid, etc., and household goods.

Sales of fresh food items at supermarkets increased sharply during the discount week. Photo: TP

According to businesses, during the Black Friday discount week, the number of visitors and shoppers increased dramatically; the number of orders increased sharply, from 50% to more than 120% on average depending on the industry.

Black Friday is a name originating from the United States and given to Friday , the 4th week of November every year. This is also a big shopping day with many deep discount campaigns and attractive promotions .

In contrast to the excitement in the essential goods industry, the fashion, footwear, cosmetics... industries, despite deep discounts of up to 70%, even up to 80%, are still sparsely populated. Since the beginning of November, streets specializing in clothing, footwear, cosmetics such as Nguyen Van Cu, Dang Thai Than, Le Hong Phong... have all hung signs with "huge" discounts from 30% to 80% but are still quite deserted.

A fashion store with a big sale sign hanging up, but still deserted. Photo: TP

“Although there are shocking discount signs, some brands have discounts of up to 70%, the number of customers visiting the store to shop is quite sluggish. Partly because the 20/10 and 20/11 holidays have just passed and it is close to the Singles Day promotion on 11/11, so customers are still not interested. The economic difficulties have made many people's incomes tight, many people have tightened their spending, including cutting down on shopping for branded fashion,” said Ms. Nguyen Phuong Vy, owner of a branded shoe store on Nguyen Van Cu Street (Vinh City).

In addition, most of the branded fashion brands have deep discounts, but most of them are old models, odd sizes, so customers do not have many options. "I often hunt for sales, in fact, I find Black Friday is more a time to clear inventory than a real promotion. Models that have been in stock for 1-2 years are brought out to clear with a 70-80% discount, but there are no sizes, few models, and new products are almost not discounted," said Ms. Hanh Nguyen, a customer.

Deep discounts but mainly old models and odd sizes so consumers don't have many choices. Photo: TP

In addition, consumer habits also have some impact on Black Friday purchasing power. Currently, users have gradually shifted from direct to online shopping. In particular, sales via Livestream on TikTok or e-commerce platforms are booming. Branded goods are also sold online, cheaper, even cheaper than big promotions without having to travel, so many people are not interested in big sales during the year.

In addition, some people are worried about the trick when a part of the business raises the price and then writes a discount of 50-70%, but in reality consumers do not receive the real discount, even buy at a higher price. This is also the factor that makes this big promotion not stimulate the number of shoppers as expected.

Despite a 70% discount, a children's toy store is deserted by customers. Photo: TP

From now until the end of 2023 and the Lunar New Year of Giap Thin 2024, in response to the "National Concentrated Promotion Month", the Industry and Trade sector continues to promote stimulus activities along with market stabilization. The Department has directed businesses to prepare goods for the holidays and Tet to serve people's shopping needs.

Along with controlling supply and demand, ensuring stable prices of goods, the Department of Industry and Trade will also prepare plans to ensure production and business activities, and control the market before, during and after Tet. At the same time, mobilize retail units to increase preferential discounts, share discounts and other costs to reduce pressure on increasing selling prices; organize longer promotional programs, and deeper discounts.

Source: https://baonghean.vn/khuyen-mai-khung-suc-mua-dip-black-friday-van-thap-post280396.html