Thailand
Vietnam: HCM City committed to stable prices, promotions to stimulate demand
Although input materials have increased by 10 per cent on average, the HCM City government and its businesses are committed to not increase prices and also launch many promotions to stimulate shopping demand.
HCM CITY – Although input materials have increased by 10 per cent on average, the HCM City government and its businesses are committed to not increasing prices and also launching many promotions to stimulate shopping demand.
The City Department of Industry and Trade has asked businesses to prepare a wide range of essential goods commonly consumed, ensure sufficient supply and stable prices.
Large retailers need to work with manufacturers and suppliers to ensure sufficient supply of goods such as pork and other fresh meat, eggs, fruits, vegetables and processed food.
The department will work closely with distribution systems to run campaigns to offer deep discounts, especially for fresh food to support consumers, along with gift vouchers.
Nguyễn Đức Toàn, merchandise director of MM Mega Market Việt Nam, said consumer trends in the first quarter still focused on purchasing essential items and limiting non-essential groups, as total retail sales of goods increased by 11.8 per cent over the same period last year thanks to price stabilisation policies and promotions.
Similarly, at Saigon Co.op, Central Retail, and Satra, purchasing power grew by 5-10 per cent over the same period.
Statistics of the City Department of Industry and Trade show that total retail sales of goods and services in the first three months of the year are estimated at about VND264 trillion, up 4.7 per cent compared to the same period last year. In particular, retail sales of goods in the three months was estimated at more than VNĐ163 trillion, up 9.1 per cent.
Purchasing power is showing signs of recovery, but according to retail businesses, the uptrend is not sustainable. The retail industry still faces many challenges, such as input material, transportation, warehousing and labour costs all rising.
Meanwhile, amid the wave of unemployment and inflation, which has not improved, the amount of goods in the consumer’s basket has decreased by 10 per cent over the same period.
In order for purchasing power to continue to increase in the second quarter and the whole year, the Department of Industry and Trade said that it is working with businesses to keep commodity prices stable, and to implement many promotions to stimulate consumer demand.
MM Mega Market is running the two biggest price promotions of the year at all centres nationwide. With the “Wholesale Price Program”, the supermarket will sell more than 40 fresh food items at the same price as at wholesale markets. With the remaining program, the supermarket commits not to increase the price of more than 500 food items and essential necessities.
Nguyễn Thị Thu Hiền, PR Manager of Central Retail, said the supermarket system is implementing the “Always Cheap” program for more than 1,000 products by the end of the year.
To support businesses, the city will organise trade promotion activities to stimulate consumer demand.
The city will also organise a year-end consumer goods fair.
The city’s modern distribution system includes 237 supermarkets, 46 shopping centres and 3,026 convenience stores, along with three wholesale markets in Bình Điền, Hóc Môn and Thủ Đức, ensuring a supply of essential goods and foods for its residents. – VNS