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Consumers can save a large amount of money when choosing promotional products |
Even at the peak of the shopping season right now, the purchasing power in Vietnam is rather low as their income are affected to some extent by negative economic news.
According to a recent survey conducted by Kantar Vietnam, 28 percent of Vietnamese households are experiencing financial difficulties, while half of the surveyed families are tightening their spending by eating at home more and reducing entertaining services.
More importantly, domestic consumers are shifting their shopping attention to more healthy products and merchandise in promotional campaigns. 49 percent of surveyed people consider prices carefully among different trading floors and methods.
As to gifts for the upcoming Tet holiday, products with practicability and diversity are preferred over prestigious brand names or beautiful packaging.
Aware of the above trends among consumers, many localities nationwide are introducing trading stimulation plans. Take Hanoi and HCMC as an example. They have launched large-scale schemes with the participation of thousands of businesses, and have seen a significant growth in sales. However, since the public are still frugal, such programs need to be extended at least to the next Tet holiday.
Joining in the efforts of enterprises to encourage consumer confidence, the Association of Vietnam Retailers (AVR) is adopting various solutions aiming at this shopping season. Deputy General Director Phung The Vinh of Kangaroo Group – AVR’s member – shared that at the shopping peak, businesses are working with localities to offer appealing promotional campaigns to satisfy the needs of consumers.
For instance, Saigon Coop is introducing attractive discount programs, from ‘Outstanding Vietnamese Products’ in September to ‘Big Size – Big Sale’ right after that (discounts of 17 – 50 percent for over 1,000 big-sized products). Another lovely program is ‘Brand Names with Mega Sale-off’ from September 28 to October 11 for more than 500 best-selling made-in-Vietnam products like TH True milk cartons, Phu Quoc fish sauce bottles, Vifon instant noodle packs, Cosy cookie packs, Simply cooking oil bottles, Tuong An cooking oil bottles, or Bien Hoa sugar packs.
