Discounts and Promotions for Essential Goods during the 30-4 and 1-5 Holidays
To stimulate consumer spending and enhance purchasing power during the 30-4 and 1-5 holidays, the Ho Chi Minh City Department of Industry and Trade has encouraged supermarkets and businesses to offer promotions and discounts, particularly on essential commodities.
Heavy Discounts on Essential Goods
Over the past weekend (April 27 and 28), which marked the first days of the holiday, supermarkets in Ho Chi Minh City witnessed a significant influx of customers. The fresh produce and grocery sections were bustling with activity, as employees worked tirelessly to restock shelves.
At Co.opmart Cong Quynh (District 1), Nguyen Thi Kiem and her family filled two shopping carts with groceries, primarily food items. Kiem explained that the holiday break coincided with her children’s school semester exams and the hot weather across the country, leading them to opt for local entertainment instead of traveling. “Seeing the supermarket’s numerous discounts and low prices, I’ve purchased more than usual,” she remarked.
 Customers shopping at Co.opmart Cong Quynh on the first day of the holiday |
Despite the increased foot traffic, a Co.opmart Cong Quynh representative reported a mere 10% growth in customer numbers compared to the same period in 2023. Data from other supermarket chains indicated a similar trend, with average basket values falling 10% year-over-year. Consumers remain focused on cutting back expenses and prioritizing promotions. Therefore, retailers are employing price-holding strategies to boost purchasing power during the holidays, hoping to lay the groundwork for growth in the second quarter of 2024.
Nguyen Ngoc Thang, Director of Co.opmart Operations and Marketing Director of Saigon Co.op (Ho Chi Minh City Cooperative Trade Union), stated that over 3,500 items are discounted by 35%-50% during the holiday season, along with gifts and bonus points. Discounts of 35% or more will be valid from April 25 to May 15 and apply to fresh produce, essential food items, household goods, clothing, and cosmetics. Products such as beverages, cooking oil, and spices are discounted by up to 50%. Additionally, the chain will run promotions like “Meat Festival with Uniform Price of 35,000 VND,” “One Item per Day for 3,500 VND,” “14 Golden Days: Buy 3, Get 5,” and significant discounts on bills exceeding 400,000 VND.
Supermarket chains BigC, GO!, and Tops Market (part of the Central Retail group) are hosting a “Watermelon, Honeydew, and Cantaloupe Festival” with discounts of up to 26%. Over 1,000 items, including fresh and processed food, beverages, refreshing drinks for the summer heat, fashionable clothing, and local specialties, are discounted by up to 50%. Nguyen Thi Bich Van, Central Retail’s Communication Director, anticipates a surge in spending due to the extended holiday period, giving consumers more time for shopping.
In addition to a 20% discount on WinEco organic vegetables and MEATDeli clean meat, Winmart offers substantial discounts, “super shock prices,” buy-one-get-one-free deals, and buy-two-get-one-free promotions on essential items and clothing. Other chains like AEON, MM Mega Market, and LOTTE Mart also offer discounts across all product categories, with a focus on deep discounts on fresh produce.
Moreover, shopping malls such as Vincom Center (District 1), Diamond Plaza (District 1), Van Hanh Mall (District 10), Hung Vuong Plaza (District 5), and Crescent Mall (District 7) have launched promotions and discounts ranging from 10%-50% to attract shoppers and provide entertainment.
Expectations for Increased Basket Value
In an interview with the Nguoi Lao Dong newspaper, representatives from several retail chains expressed that while consumer spending has improved recently, overall market demand remains weak. Consequently, the boost in purchasing power during this holiday season is unlikely to exceed 20%-30% compared to the same period last year.
According to Dinh Quang Khoi, Marketing Director of MM Mega Market, despite the recent heatwave, customer footfall has remained stagnant, but shopping time has increased. “The supermarket has designed a diverse range of promotions, reorganized products to enhance their appeal, and focused on food items to increase customer basket value,” said Khoi.
Nguyen Ngoc Thang of Saigon Co.op forecasts a 10% growth in purchasing across the retail system during the holiday season. He believes that since consumers remain highly receptive to promotions and discounts, such incentives are tailored to their needs, with particular emphasis on benefits for loyalty program members.
AEON Vietnam representatives announced that its shopping malls, supermarkets, and stores will be fully staffed and extend their operating hours until 11:00 PM to serve customers during the five-day holiday period.
“We have collaborated with suppliers to ensure an ample supply of goods and support consumers with peace of mind during the extended holiday. In particular, we have prepared seasonal items such as fruits, electronics, healthcare products, and cosmetics. The supermarket offers new dishes in the self-service dining area that cater to consumer preferences,” stated an AEON representative.
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Sustained Efforts to Hold Prices and Stimulate Demand Nguyen Anh Duc, Chairman of the Vietnam Retailers Association, stated that the economic situation in the first quarter of 2024 has shown positive signs, with a slight increase in consumer spending, but overall demand remains low. Consumers are cautious in their purchases, focusing on daily necessities, emphasizing prices, and paying attention to products that offer value for money. “After a challenging 2023, businesses have implemented cost-cutting measures and maintained prices to stimulate demand. The supply chain between suppliers and distributors is well-integrated, keeping consumer prices stable,” Duc emphasized. |
Article and photos by Thanh Nhan
