While large shopping malls launch the biggest ever branded promotions, supermarkets and stores compete to offer discounts on essential consumer goods to stimulate shopping demand among citizens during the holiday period.
Branded goods attract customers
Present at the basement of Union Square (District 1, Ho Chi Minh City) from the morning of August 30 to wait for the “Branded Promotion – City Sale” program as part of Shopping Season 2024’s inauguration and welcome customers, young Luu Thuy Tien (District 8) spent over 3 million VND on clothing, sports shoes, and accessories after just 1 hour of “sale hunting”
“Most of the items I bought were discounted by at least 50%, with some up to 80%. For example, a pair of Nike shoes that usually cost over VND 2.5 million are now reduced to about VND 1.2 million; Calvin Klein jeans are reduced from over VND 5.2 million to over VND 1.3 million,” said Thuy Tien.
Similarly, Dao Ngoc Duc, also from Ho Chi Minh City, bought 5-6 T-shirts and shirts from his favorite brands at much lower prices than usual. “This year’s program seems more professional, with a greater variety and quantity of items, categorized by product lines, and significantly deeper discounts than last year,” said Duc.
Observing the “City Sale” area in Union Square, in addition to the presence of 17 famous brands such as Banana Republic, Calvin Klein, Cotton On, Nike, Gap, Mango, Old Navy, OVS, and Mothercare, distributed by Au Chau Fashion and Cosmetics Company (ACFC), there were also many beloved international brands in Vietnam (such as Gucci, Burberry, Chloe, Marc Jacobs, Polo, Versace, Salvatore Ferragamo, Moschino, Lacoste, Adidas, Skechers, Puma, Ecco, Geox, Furla, Pierre Cardin, Casio, Whoo, Ohui, Sum, L’Oréal, Yves Rocher, and Vera…)
Ho Chi Minh City consumers eagerly hunt for branded sales during the September 2 holiday. Photo: THANH NHAN |
ACFC representatives said that after the successful branded promotion program in 2023, this year, the company has convinced 11 more mid-range and mid-high-end brands to participate.
“Before the start of the program, we received some feedback from customers about unrealistic discounts and cases of price gouging. Here, we would like to clarify that ACFC exclusively distributes authentic products with clear origins and transparent pricing. Off-season products will be offered at promotional prices, ensuring that there is no price manipulation,” said Mr. Tran Tuan Ninh, ACFC’s Marketing Manager.
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Businesses are highly anticipating the shopping activities during the extended four-day 2-9 holiday. |
Mr. Le Huynh Minh Tu, Deputy Director of Ho Chi Minh City’s Department of Industry and Trade, affirmed that the participating businesses have prepared a diverse range of products and attractive discounts to stimulate consumption and promote their brands to customers. “This is directly related to the survival of the businesses, so the quality and pricing of the goods provided at these events are guaranteed as committed by the suppliers,” emphasized Mr. Tu.
According to observations, in response to the city’s Shopping Season 2024 program, major shopping malls in Ho Chi Minh City simultaneously launched branded promotions from August 30 to September 8, with discounts of up to 80%-90%.
The amount of discounted goods reached millions of products from over 500 famous brands worldwide and in Vietnam, including various product lines such as cosmetics, perfumes, fashion, watches, bags, wallets, office and sports shoes, suitcases, health and home care products…
Expectations for increased consumer demand
According to a report from the Ministry of Industry and Trade, the reduction of 36 fees and charges by 10%-50% from July 1 to December 31, 2024, will help businesses and people stabilize production and business activities, positively contributing to the economy’s recovery. Along with this, the 2% VAT incentive policy will reduce production costs for businesses, lower product prices, enhance competitiveness, and reduce consumer spending.
Additionally, the salary reform implemented from July 1 is expected to positively impact trade activities. To stimulate consumer demand, supermarkets and stores in Ho Chi Minh City, Hanoi, and other major cities have simultaneously organized promotional programs with significant discounts on a range of fresh food and household items…
For instance, the Saigon Co.op, the Ho Chi Minh City Union of Trading Cooperatives, increased their stock by 10% compared to regular days, focusing on essential consumer goods to supply the market ahead of the holiday rush. “Saigon Co.op coordinates with 600 business partners to organize the ‘Proud of Vietnamese Goods’ month, carefully preparing stock and applying discounts of 10% – 50% for over 3,500 Vietnamese products across all product lines, lasting until September 18,” said Mr. Thang.
Similarly, the MM Mega Market system also offers discounts of up to 50% on about 2,000 essential consumer goods, mainly fresh food items. Mr. Dinh Quang Khoi, Marketing Director of the MM Mega Market system, forecasts that consumption will increase during this year’s September 2 holiday, so MM Mega Market has prepared about 15% more stock than last year.
Meanwhile, the GO! and Big C hypermarkets and Tops Market, part of the Central Retail Vietnam Group, organized the “Proud of Vietnamese Specialties” Festival, offering discounts of up to 49% on regional specialties such as Minh Duong rice vermicelli (Hanoi), Son Ha chicken (Quang Ngai), and Khai Hoan fish sauce (Phu Quoc)… The Emart system focuses on maximum discounts of up to 65% on various products. Many prominent brands, such as Budweiser, Heineken, LocknLock, and Sunhouse, also offer exclusive promotions of up to 60% to stimulate shopping demand during the holiday season.
In addition to promotions and discounts, retail systems also coordinate with many suppliers to boost the output of private label goods, which have the advantage of competitive pricing, to meet consumers’ trends of limiting high-priced spending. “We are developing affordable private label products suitable for all consumer segments. Additionally, we are implementing ‘Super Cheap Price’ promotions for over 300 products and the WiN membership program… to facilitate essential shopping for consumers at preferential prices,” said a representative of the Winmart/Winmart+ supermarket chain.
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Boosting trust in Vietnamese goods “During the 2-9 holiday, the Hanoi Department of Industry and Trade will focus on stimulating domestic consumption and promoting the consumption of Vietnamese goods through connection programs, product introductions, and promotions in systems and shopping centers… to raise awareness and trust in Vietnamese products among consumers,” said Mr. Nguyen The Hiep, Deputy Director of Hanoi Department of Industry and Trade. |
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Manufacturers also proactively stimulate demand Talking to NLD reporters, Ms. Tong Thi Ngan, Director of HAQ Hanoi JSC – a company specializing in distributing green bean cakes and almond cakes, said that purchasing power has been improving since the beginning of the third quarter of 2024. For this year’s September 2 holiday, the company is offering direct discounts on products along with gifts to further boost sales. Meanwhile, according to Ms. Duong Thi Hue, a representative of Soc Son Clean Food and Agricultural Products Company Ltd., which produces Hue Duong fish cakes, the company is implementing a 7% discount on all fish cake products at supermarkets. In addition, the company also sets up tasting booths at supermarkets so that customers can directly experience the products, and they send staff to demonstrate the fish filtering process to assure customers of the products’ origins and transparency. According to Ms. Hue, post-COVID-19, consumption habits have changed. People buy smaller quantities but pay more attention to health and nutrition. Therefore, the company focuses on product quality and appropriate packaging. Sharing the same view, Ms. Bui Thi Hanh Hieu, General Director of Bao Minh Agricultural Product Processing and Trading JSC, said that the company includes rice in gift baskets for practical gifts during the September 2 holiday and other special occasions. “Bao Minh focuses on non-fattening rice types that aid in weight loss… We are promoting e-commerce channels with 5-10 product lines to provide diverse shopping experiences in terms of pricing and products,” emphasized Ms. Hieu. |
Thanh Nhan – Le Thuy
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