In order to assist businesses in selling products and increase purchasing power for people during the 30-4 and 1-5 holidays, the Ho Chi Minh City Department of Industry and Trade has deployed to all supermarket systems and industries to calculate and organize promotions and discounts on goods, particularly essential goods.
Significant promotions on essential goods
Last weekend (April 27 and 28), which were also the first days of the holiday, supermarkets in Ho Chi Minh City were quite crowded. The fresh food and dried food sections were always busy, with staff on hand to restock the shelves.
At Co.opmart Cong Quynh (District 1), Ms. Nguyen Thi Kiem and her family filled two carts with groceries, mostly food. Ms. Kiem said that this holiday is close to the students’ semester exam schedule, and the weather is hot all over the country, so her family is not traveling but has chosen to have fun locally. “Seeing that the supermarket is having many promotional items at very cheap prices, I bought more than usual,” she explained.
Customers shopping at Co.opmart Cong Quynh on the first day of the holiday
Although there were more customers than usual, according to a Co.opmart Cong Quynh representative, the number of customers only increased by about 10% compared to the same period in 2023. Data on the value of consumer shopping carts at other supermarket chains also showed a 10% decrease compared to the same period last year. Consumers are still in a trend of reducing spending, prioritizing “hunting” for promotions. Therefore, retailers are using the strategy of holding prices to boost purchasing power during the holidays, hoping to create momentum for growth in the second quarter of 2024.
Mr. Nguyen Ngoc Thang, Director of Co.opmart’s Operation Block and Marketing Director of Saigon Co.op, said that during this holiday, more than 3,500 items were discounted by 35%-50%, along with many gifts and bonus points. The discounts of 35% or more will last from April 25 to May 15 and will apply to fresh food, essential food, household goods, clothing, cosmetics, and more. Items such as soft drinks, cooking oil, and spices are discounted up to 50%. In addition, this system also has programs such as: “35,000 VND meat festival”, “3,500 VND per dish every day”, “14 golden days buy 3 get 5”, deep discounts on invoices from 400,000 VND or more…
The BigC, GO!, and Tops Market supermarket chains (part of the Central Retail group) are organizing a watermelon, cantaloupe, and honeydew melon festival with discounts of up to 26%. Over 1,000 items from fresh and processed food, beverages, and soft drinks that quench thirst in the summer to various types of fashionable clothing, local specialties, etc. are discounted up to 50%. Ms. Nguyen Thi Bich Van, Communications Director of Central Retail, predicts that purchasing power will increase due to the extended holiday period, giving consumers more time to go shopping.
In addition to the 20% discount on WinEco clean vegetables and MEATDeli clean meat, the Winmart system also has many shock reduction programs, “super shock prices”, buy 1 get 1 free, buy 2 get 1 free… for essential goods and clothing. Other systems such as AEON, MM Mega Market, and LOTTE Mart are also launching promotions for all product lines, prioritizing the “deepest” discounts on fresh food groups.
In addition, 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)… are also launching promotions, with discounts of 10%-50% to attract people to visit and shop.
Expected increase in shopping basket value
Speaking with reporters from the Nguoi Lao Dong newspaper, representatives of some retail chains said that although purchasing power has improved recently, overall, market demand is currently low. Therefore, during this holiday, the market’s purchasing power is unlikely to increase too much, with a maximum increase of only 20%-30% compared to the same period last year.
According to Mr. Dinh Quang Khoi, Marketing Director of the MM Mega Market system, during the peak of the heat, the number of customers coming to shop did not increase, but the time spent in the supermarket during each shopping trip did. “The supermarket has designed a diverse promotional program, rearranged the goods to be more scientific and eye-catching, and focused on the product group serving food and drink, with the goal of increasing the value of the customer’s shopping basket,” said Mr. Khoi.
At Saigon Co.op, Mr. Nguyen Ngoc Thang predicts that purchasing power across the retail system will increase by about 10% during this holiday season. According to him, as consumers are still very interested in promotions and discounts, all优惠 programs are designed based on the actual needs of customers, with special priority given to the interests of member customers.
A representative of AEON Vietnam said that all shopping malls, supermarkets, and stores in the system are fully staffed and will extend their opening hours until 11 p.m. to serve consumers during the five-day holiday.
“We have worked with suppliers to fully meet the supply of goods and to accompany people so that they can shop with peace of mind during the long holiday season. In particular, we are focusing on preparing seasonal items such as fruit, electronics, health care products, and beauty products. In the self-service dining area, the supermarket has many new dishes that suit the tastes of consumers,” said the AEON representative.
Efforts to hold prices to stimulate demand
Mr. Nguyen Anh Duc, Chairman of the Vietnam Retailers Association, said that the economic situation in the first quarter of 2024 has changed positively, and purchasing power has increased slightly, but overall it is still low. People tend to be cautious in their shopping, sticking to essential items and daily meals, focusing on prices, and paying more attention to products that are worth the money they spend.
“After a difficult 2023, businesses have planned to cut costs and hold prices to stimulate demand. The supply chain is closely linked between suppliers and distributors, keeping the prices of goods reaching consumers stable,” Mr. Duc emphasized.
