Total stimulus at the end of the year

“Cut” profit sharing with customers

Tet is coming. Turning the pages of the calendar, Ms. Ngo Thuy An, living on Tan Ky Tan Quy Street (Tan Phu District) calculated that 2023 will end in more than 2 months. “After a year of hard work, despite the difficulties, my husband and I still returned to visit our hometown, bought some dried fruits, and bought some new clothes for our parents and grandchildren... We have planned this since the beginning of the year and saved 30,000-50,000 VND/day. If we pack well, we will have a happy Tet,” Ms. Thuy An confided.

Sharing the same sentiment, Ms. Nguyen Minh Thuy (62 years old, living on Phan Van Tri Street, Go Vap District) is worried because in the past few weeks, many items at grocery stores have increased in price by 2,000-5,000 VND/product. However, Ms. Thuy said: "If you are willing to go to large supermarkets, you will be able to choose products with good prices and high promotions. For example, the same type of cooking oil, supermarkets have good discounts, reduced to less than 40,000 VND/liter; rice is reduced to 15,000-20,000 VND/kg".

Along with the hustle and bustle of people, some retail systems such as Co.opmart, Satra, Go!, BigC, MM Mega Market... are also accelerating promotional programs with deep discounts on many items (rice, cooking oil, meat, fish, vegetables, cosmetics...). Some items are discounted by about 49% in the hope of making a profit on the biggest shopping occasion of the year.

A representative of the MM Mega Market system said they are willing to “cut” profits to share with customers. Ms. Nguyen Thi Bich Van, Communications Director of Central Retail Group in Vietnam, informed that they will balance reasonable prices with many incentive programs for consumers to stimulate year-end purchasing power.

A representative of the Co.opmart system shared that they are looking for ways to boost sales, including maintaining reasonable prices along with attractive promotional and subsidy policies. According to information from Ba Huan Company, egg prices sold at supermarkets and shopping malls in the market are at a good level, due to abundant supply. Vinh Thanh Dat Food Company also continuously applies 10-20% promotions for retail channels.

According to Mr. Truong Chi Thien, General Director of Vinh Thanh Dat Food Company, egg purchasing power has decreased significantly since the beginning of the year, about 15% compared to last year, especially eggs for processing, baking, etc. Most businesses expect that "cutting" the profit shared with customers will help improve purchasing power.

Let's "shake hands" to welcome guests

Businesses believe that the family reunion spirit will help improve year-end purchasing power, especially 2-3 weeks before Tet.

According to Mr. Nguyen Nguyen Phuong, Deputy Director of the Department of Industry and Trade of Ho Chi Minh City, the demand for shopping and consumption at the end of the year tends to increase compared to normal, so most shopping centers and businesses prepare Tet goods very early. The Department also coordinates with the Department of Tourism of Ho Chi Minh City to promote and connect domestic and foreign tourists to Ho Chi Minh City for entertainment and shopping at the end of the year.

Consumers wait to buy promotional foods at Emart supermarket, Go Vap district, Ho Chi Minh City

Some economic experts believe that the group of local visitors (people living and working in Ho Chi Minh City) who come together to have fun and shop right in Ho Chi Minh City will greatly contribute to stimulating the consumer market at the end of the year to "warm up". Expectations also come from overseas Vietnamese visitors, as well as domestic and foreign tourists.

Ms. Mai Tu, a trader at Binh Tay market (District 6), said that dried fruits, dried shrimp, dried squid, etc. are of great interest to tourists in the Central Highlands and the North. Australian and German tourists who travel independently also really like the roasted and ground coffee sold directly at Binh Tay market. Ben Thanh market (District 1) and An Dong market (District 5) are also visited by many international visitors looking to buy fabrics for making clothes, dried specialty fruits, etc. This is really a good sign, helping business people have more motivation. In order to not let people "swim alone", many market management boards (Ben Thanh, Binh Tay, An Dong, etc.) have "rolled up their sleeves" to support business people by instructing them to promote their goods on Zalo, TikTok, Facebook, etc. An Dong market also hires people to film and promote consumer goods and specialties on social networks.

Mr. Tran Quang Duy, CEO of Chim Canh Penguin Travel Company, said that the combination of departments and branches, typically the Department of Industry and Trade and the Department of Tourism of Ho Chi Minh City, contributes to bringing visitors, gradually improving purchasing power. In the long term, it is necessary to upgrade the quality of services at traditional markets, handle the situation of overcharging at retail outlets and street vendors; connect commercial centers, shopping areas, diversify typical groups of goods at reasonable prices...

It is estimated that tens of thousands of tons of goods and food of all kinds will be supplied to consumers in Ho Chi Minh City during the year-end shopping peak; along with that, there will be dozens of tours and tourist routes taking visitors to destinations and entertainment areas in Ho Chi Minh City.

At many factories, goods are being packed and ready to be transported to supermarkets and shopping malls. Some neighboring provinces such as Lam Dong and the Mekong Delta are also waiting for the day to bring goods to wholesale markets and traditional markets in Ho Chi Minh City. A "fiery" year-end shopping season awaits consumers and businesses alike.

According to the Ho Chi Minh City Statistics Office, tourism revenue in the first 9 months of the year in Ho Chi Minh City is estimated at VND125,288 billion, up 35% over the same period. Total retail sales of goods and consumer services revenue is estimated at more than VND871,000 billion, up 8.6% over the same period, and is forecast to continue to maintain growth momentum due to the impact of the increase in basic salary.

Source: https://www.sggp.org.vn/tong-luc-kich-cau-cuoi-nam-post710710.html