SGGP
The difficult economic situation and declining incomes have directly impacted people's purchasing power. Faced with this challenge, many businesses and shopping centers have sought measures to stimulate consumer demand.
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| Customers choosing to buy fruit at Go! Go Vap at the end of June 2023. |
Increase the frequency of promotions.
Pointing to a text message on her phone, Ms. Bui Kim Ngoc, residing on An Duong Vuong Street (District 5), said that a few days ago, the Ho Chi Minh City People's Committee sent mass text messages to many mobile subscribers announcing the "Summer Shopping Extravaganza 2023" program, with discounts up to 100%. "After checking prices at major retailers in Ho Chi Minh City, I found the prices to be good and highly competitive. If you're willing to search carefully, it's easy to find suitable products," Ms. Kim Ngoc said.
Information from wholesale markets in Ho Chi Minh City indicates that the quantity of vegetables, fruits, meat, and poultry arriving at the markets each night is abundant, and prices remain stable. Among these, many fresh fruits such as lychees, mangoes, and avocados are quite affordable. For example, grafted mangoes cost 5,000 VND/kg, Cat Chu mangoes 25,000 VND/kg, mandarin oranges 18,000 VND/kg, long watermelons 9,000 VND/kg, and peeled rambutan 4,000 VND/kg; pork cuts range from 68,000-74,000 VND/kg, and pork loin 95,000 VND/kg… Observations at several supermarkets and shopping malls show that promotional programs are constantly being updated with high frequency (1-2 weeks) spread throughout this summer to attract customers. For example, supermarket chains like Aeon Mall, Go!, BigC, and Tops Market (part of Central Retail) are offering simultaneous deep discounts of 50%-70% depending on the item. These supermarket chains continuously rotate their promotions to maintain customer loyalty through their special offers. Typically, Go! and BigC are selling avocados (variety 034) for less than 21,000 VND/kg, Tien Giang dragon fruit for 18,000 VND/kg, durian for over 60,000 VND/kg; adult rain boots for 129,000-199,000 VND/pair; and shorts and t-shirts for 59,000-100,000 VND/piece… Compared to some items sold at grocery stores, these prices are quite competitive and easily accessible to buyers.
According to the Ho Chi Minh City Department of Industry and Trade, there are currently about 7,000 promotional programs, worth hundreds of billions of VND, running from now until September 15th, creating a real highlight and attracting customer attention. These programs focus on food, fashion , and cosmetics. Furthermore, the city is also piloting the development of tourism tours with the participation of travel companies, hotels, restaurants, distribution systems, and cashless payment units, aiming to share benefits and risks.
Support for grocery store upgrades
Sharing with a reporter from SGGP newspaper, the owner of Huyen Anh 1 convenience store (Hung Ngan apartment building, Duong Thi Muoi street, District 12) happily said that she recently opened a new store at Picity apartment building, also in the district. Upgrading and expanding the grocery store into a convenience store has contributed to increased revenue and provided employment for family members. Huyen Anh 1 store sells a wide variety of food and goods at reasonable prices, so it attracts many customers. During the recent Lunar New Year peak season, sales increased by 15%-25% compared to before the store upgrade.”
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Customers shopping at Aeon Mall Tan Phu, June 27, 2023 |
Huyen Anh 1 and 2 are among 500 stores nationwide that receive support from MM Mega Market in terms of store design and merchandise, as part of the "Good Price" project. This is a collaborative model between MM Mega Market and individual investors who wish to own convenience stores, mini-supermarkets, or traditional grocery store owners who want to transform into a modern retail model. MM Mega Market partners receive a support package of approximately 70 million VND, including store construction, complete professional design, and business plan consulting tailored to their financial capacity. Furthermore, partners are also supported with credit for goods purchases up to 500 million VND, with a 15-day payment term and various payment methods.
Bruno Jousselin, CEO of MM Mega Market, stated that the "Good Price" model helps businesses and manufacturers sell their goods better, hundreds of grocery stores operate more efficiently, and contributes to the overall development of Vietnam's retail industry. Currently, the "Good Price" model is present in major cities and provinces such as Ho Chi Minh City, Hanoi, Da Nang, Binh Duong, Bien Hoa, Quy Nhon, Buon Ma Thuot, Rach Gia, etc., and is expected to have approximately 10,000 stores by 2026.
Previously, the Saigon Co.op system also had a series of convenience stores along Dong Bac Street, Duong Thi Muoi Street (District 12), Quang Trung Street (Go Vap District), and across districts such as Nha Be and Can Gio… but many of these have now closed. The latest information from Saigon Co.op indicates that the company is finalizing a cooperation model with individuals who wish to switch businesses and own convenience stores or mini-supermarkets. Mr. Nguyen Nguyen Phuong, Deputy Director of the Ho Chi Minh City Department of Industry and Trade, commented that the efforts of stores, supermarkets, and shopping centers to support agricultural products and subsidize consumers, with some choosing local people as business partners, have significantly contributed to stimulating consumer demand. This is also a sustainable strategy, alongside development, market expansion, and customer retention for modern retailers.
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