'Groaning' in the 10,000 VND price step
At the 2023 Annual General Meeting of Shareholders, Mobile World (MWG) Chairman Nguyen Duc Tai said that the company had not paid much attention to the price difference between itself and its competitors in the past and that was a "gap" for them to gain customers. MWG leaders acknowledged that there were times when the company's prices were several million VND higher than other stores, but this would end and the price difference would not become an advantage for competitors.
"As an investor, if you also invest in competitors, you will hear groans in the near future and it will be long-term, not short-term. You should prepare for that spirit," Mr. Tai affirmed.
iPhone price drops to unprecedented low, making users feel like they've "bought a bad deal"
After the above announcement, the market entered an unprecedented price race, especially for the iPhone product line which has always maintained its price for a very long time. To assert that they are cheaper than their main competitors, some large systems apply maximum discounts, as long as they are lower than other units even by... 10,000 VND.
Referring to the market at the end of May 15, more than 1 month after the announcement of the Chairman of MWG, iPhone prices are still "chasing" each other quite closely among sellers. When comparing between AARs, almost all models are the same price or have a difference of only 10,000 VND per device - a "negligible" reduction for devices with listed prices of up to tens of millions of VND.
| iPhone 14 Pro Max Price | 128 GB | 256 GB | 512 GB | 1TB |
|---|---|---|---|---|
| FPT Shop/F.Studio by FPT | 26.43 | 29.69 | 35.79 | 41.79 |
| Mobile World/TopZone | 26.44 | 29.69 | 35.79 | 41.79 |
| Viettel Store | 26.45 | 29.69 | 35.49 | (Out of stock) |
| CellphoneS | 26.44 | 29.69 | 35.99 | 41.79 |
| Hoang Ha Mobile | 26.29 | 29.39 | 35.49 | 40.89 |
| ShopDunk | 26.79 | 29.59 | 35.89 | 41.99 |
| Minh Tuan Mobile | 26.39 | 29.49 | 35.89 | 40.99 |
iPhone 14 Pro Max price list at AARs in Vietnam updated at the end of May 15, 2023 (unit: million VND)
The difference between AARs also comes from the incentives and support programs that come with it, such as discounts if payment conditions are met, 0% interest installment payments, old for new... After adding up all the promotional values, buyers can own the device for a lower amount than recorded in the table above, but there is no significant difference when compared between AARs.
'Buying the wrong price' on the website and directly at the store
The "price war" becomes even more complicated for consumers when there are different prices posted on the website and in the store. Specifically, the website offers certain incentives, but if not consulted at the store, users can lose up to several million VND because they do not know about the programs applied to direct customers.
Users are encouraged to go to the store and compare with the listed price on the website to avoid being cheated when shopping.
In mid-May, Mr. BTĐ (HCMC) shared a story of "almost losing nearly 2 million at Dien May Xanh for a TV". Accordingly, he looked at a TV model on the website priced at 13.4 million VND and when calling the hotline, the staff did not advise him on any promotional programs. However, when he went to see it directly at the store, the product was listed at 11.9 million VND.
"If you want to buy a TV, go there in person to bargain. The system is big but the prices are not uniform," Mr. T.D reminded.
Not only him, many other customers also said they were "shocked" because they did not know where to go for the price. Some said that when they went to the store, the staff quoted the product price according to the on-site list, without mentioning any promotional program that was cheaper if purchased online. When the buyer asked, the consultant changed the subject and was ready to support the customer to order the product through the website and then receive it directly at the store or deliver it to a private address.
"For a long time, MWG has applied a policy of separating online prices from direct purchases, maintaining two parallel price systems. Currently, they have removed this distinction on the website, but still added a discount section exclusively for online buyers, which is certain that when customers come to the store and request, the staff will sell directly so that customers can still enjoy the promotion," a market observer shared.
Not only that, now users have the "right" to bargain right at the electronics supermarket, as long as they offer a lower price for the same product at another business unit. If the difference is within the allowed level and in accordance with the store's promotion, customers will receive an additional discount to get a good price without having to go elsewhere to buy.
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