Volume of stabilized goods increased to stimulate consumer demand

Numerous items have established new price levels, ranging from 5 percent to 10 percent higher than those at the end of 2023, despite sluggish purchasing power.

Customers go shopping at a supermarket in Hanoi.

To gradually boost buying activity, modern retail systems, like supermarkets and convenience stores, have intensified partnerships with suppliers, consistently offering promotional campaigns, creating opportunities for consumers to buy goods at competitive prices.

Frequent substantial discounts

Over the past weekend, crowds flocked to several supermarkets and shopping centers across HCMC to hunt for promotional deals and escape the heat. Nguyen Thuy Lan, residing on Le Quang Dinh Street in Go Vap District, HCMC, pushing her 9-month-old baby in a stroller for an evening shopping trip at Emart supermarket, shared, "The hot weather made the baby cranky. I took the opportunity to buy some household items while also cooling off with my baby. There were many great deals, especially on food, fashion, and cosmetics." Not only Lan, but this is also the sentiment of many customers when shopping during this hot weather.

As for busy office workers who lack time for in-store shopping, online channels are the optimal choice. Mai Thi Anh, residing in Binh Chanh District (HCMC), noted that she regularly orders groceries for home delivery. "Due to early mornings and late evenings at work, I often opt for grocery deliveries from nearby supermarkets. Occasionally, if there are delays or quality issues with the delivery, I receive adequate compensation," Anh explained.

According to Saigon Co.op, their network of 800 retail outlets nationwide is currently running a summer festival featuring events, such as the "Laundry Festival," "Poultry Festival," and "Cherry Blossom Festival", with direct discounts of up to 50 percent on various items. Additionally, they are giving away over 3,500 discount coupon booklets to help customers save throughout the year, offering gift exchanges for receipts, and organizing mini-games with rewards. For the "Poultry Festival," San Ha products are offered at discounts of 15 percent to 35 percent during the weekends, from April 12 to April 14, at Co.opmart, Co.opXtra, Co.op Food, and Finelife outlets in the HCMC area.

Furthermore, the Satra Foods system is offering the "Shop without worries about prices" program, featuring a range of frozen products like shrimp dumplings, meatballs, fresh fruits, and cosmetics. Additionally, supermarkets such as MM Mega Market, BigC, and GO!, consistently roll out various promotional programs to boost consumer spending. These systems have pledged to collaborate closely with suppliers to ensure the most advantageous pricing policies for customers.

At some traditional markets in HCMC, including Hoa Hung Market (District 10), Go Vap Market (Go Vap District), and Xom Chieu Market (District 4), the purchasing power has dropped by 30-70 percent compared to pre-Covid-19 levels. However, prices for certain items have risen by 5-10 percent since the end of 2023.

For instance, cucumbers are priced between VND25,000 and VND35,000 per kg, white-leg shrimp between VND240,000 and VND265,000 per kg, chicken eggs between VND43,000 and VND45,000 for a ten pack, and pork between VND110,000 and VND185,000 per kg. To retain customers, some small traders are proactively offering discounts of 5 percent to 10 percent on select items, along with complimentary cilantro, shallots, and chili peppers.

Nam, a small vendor at Hoa Hung Market, explained that due to modest profits, small vendors can only offer promotions within their means. Nevertheless, customers appreciate and strongly support their efforts.

Interregional connectivity, diverse supply

Recently, the HCMC Trade Department has been actively fostering and implementing interregional connection programs with provinces and cities across the country, such as the Central Highlands and Mekong Delta regions. The primary focus is on closely monitoring goods at their source, ensuring that high-quality products at competitive prices reach the tables of approximately 13 million residents living in HCMC.

According to Ms. Cao Thi Thanh, Deputy Director of the Department of Industry and Trade of Lam Dong Province, the deep engagement of HCMC's industry and trade sector in sourcing regions and direct interactions with supplying businesses in the province demonstrates efforts to provide safe food sources to consumers in HCMC. This initiative also presents opportunities for stable supply, mitigating the issue of seasonal oversupply and price fluctuations for Lam Dong businesses.

Mr. Bui Trung Kien, Director of Xuan Thai Thinh Company Limited in Lam Dong Province, shared that the company supplies approximately 300 tons of fruits and vegetables to some supermarkets in HCMC each month. Additionally, the company regularly collaborates with supermarkets to offer promotions and subsidies to consumers.

Recently, the HCMC Department of Industry and Trade unveiled the market stabilization program for 2024 and the 2025 Lunar New Year, with 69 wholesale enterprises participating, an increase of ten compared to 2023. Under this program, the volume of stabilized goods is projected to increase by 4-6 percent compared to the previous year, capturing 21-32 percent of the market share during regular months and approximately 24-41 percent during the Tet holiday period. The volume of stabilized goods is large enough to guide and regulate the market.

The program ensures the supply and demand of essential goods, stabilizes prices and prepares for urgent situations such as natural disasters and epidemics. The program will be in effect from April 1, 2024, to March 31, 2025. Furthermore, a series of promotional campaigns will be concentrated from now until the end of the year, promising to boost purchasing power.

According to the HCMC Department of Industry and Trade, the total retail sales of goods in the first three months of this year reached nearly VND179 trillion, up 9.38 percent compared to the same period in 2023. Mr. Nguyen Nguyen Phuong, Deputy Director of the department, noted that while overall consumer spending in the city has risen, the value of consumer goods has decreased.

This suggests that residents are tightening their expenditures, prioritizing essential items for daily living. The department has enhanced collaboration with supermarkets, districts, communes, and traditional markets to implement substantial discount programs to support consumers.

Other news