Sales promotions with discounts of up to 50-60% and “shock” prices, along with fixed-price sales for certain items, successfully attracted consumers to open their wallets. Specifically, the groups of commodities with increased sales were in the food and foodstuffs category, focusing on vegetables, fruits, seafood, and frozen foods; and in the essentials category, including laundry detergent, shampoo, and floor cleaner.
CONSUMERS ARE RUSHING TO SHOP
On September 1st alone, MM Mega Market’s records showed a more than 15% increase in revenue compared to the same period in 2023. Mr. Dinh Quang Khoi, Marketing Director of MM Mega Market, said that the average basket value of customers increased by about 10% compared to the holiday on September 1st last year. “In addition to the general discount promotion, during the 2/9 holiday, the system especially offered significant discounts on some domestic and imported agricultural products and ingredients for Vietnamese dishes, and applied fixed prices for some groups of goods,” said Mr. Khoi.
On National Day, September 2nd, many supermarkets continued to record a sudden increase in the number of customers, focusing on food, beverages, and fashion items. At Emart Phan Van Tri Supermarket in Go Vap District, Ho Chi Minh City, by the end of the day, the areas for fresh food, processed food, fashion, and cosmetics were packed with people, with some areas crowded with people and shopping carts blocking the aisles. Similarly, other supermarkets such as Lotte Mart Nam Sai Gon in District 7 and Aeon Tan Phu in Tan Phu District also attracted a large number of customers buying food and various household items.
On September 3rd, Saigon Co.op’s supermarket system, including Co.opmart, Co.opXtra, and Co.op Food, recorded a significant increase in sales compared to regular days, with some places doubling their sales. Especially in Co.opmart and Co.opXtra stores located in high-rise apartments and commercial centers, the number of customers increased significantly. The reason was that the supermarkets organized a Vietnamese Culinary Festival over the weekend, attracting a large number of residents and shoppers who came to the commercial centers for entertainment.
In addition to physical stores, the number of online orders received by Vietnamese retailers also doubled compared to regular days. “The average basket value ranges from VND 400,000 to VND 500,000, focusing on items on promotion under the Proud of Vietnamese Goods program, such as essential fresh food, dried food, beverages, fruits, and cosmetics,” said a representative of Saigon Co.op.
Meanwhile, Ho Chi Minh City’s Department of Industry and Trade, in collaboration with several units, organized the “Khuyen mai hang hieu – CITY SALE 2024” event, with discounts of up to 80%. This event also contributed to the increase in sales at commercial centers such as Union Square (District 1), SC Vivo City (District 11), and the Southern Region of Science and Technology Information (District 11), and to the growth of the city’s retail market during the 2/9 holiday this year.
In Hanoi, on the last day of the holiday, in addition to the promotion programs implemented before the National Day holiday on September 2nd, supermarkets introduced additional promotion types to provide more benefits to consumers returning to the city for work. For example, at Go! and Big C, representatives of the Retail Central Group said that the supermarket system is promoting programs focusing on products for the Mid-Autumn Festival, the back-to-school season, and family gatherings. In addition, the supermarket offers additional discounts on a per-receipt basis.
Representatives of BRG, GO, Big C, and WinMart supermarkets said that purchasing power is recovering quite well. Therefore, these retailers are focusing on expanding their sales network, sourcing goods, improving service quality, maintaining stable prices, and increasing sales. The supermarket systems also continue to launch attractive promotion programs with many benefits on online channels to serve the diverse needs of buyers.
PROMOTION PROGRAMS NEED TO BE REASONABLE AND FOCUSED
Explaining the reason for the increase in sales of certain commodities and product groups during the holiday season, a representative of a retailer pointed out that consumers are becoming smarter and are very familiar with promotions, discounts, and special offers. Therefore, consumption stimulus programs must closely follow consumer preferences.
For this reason, most consumption stimulus programs of retailers must go deep into the market rather than just expanding the range of goods, along with focusing on essential consumer goods that match the market trend during each peak shopping season of the year.
Recently, large-scale promotion and discount programs have become one of the suitable channels for enterprises to promote their goods in the market and stimulate consumption. As a distributor, Ms. Huynh Bich Thuy, Director of the Saigon Co.op Supplier Transaction Office, said that the trend of consumers mainly purchasing essential food and fresh produce remains prominent.
For non-essential goods, purchasing power is slowing down, leading domestic enterprises to be cautious about producing new products. In particular, this group of goods also faces strong competition from Chinese online products. Therefore, the state needs to pay attention to supporting this industry.
Mr. Ha Ngoc Son, Deputy General Director of Satra, also acknowledged that, based on the shopping baskets of consumers through the retail systems, people have been focusing on purchasing daily necessities and food. Therefore, for focused promotion programs, the time should be shortened, but the scale and intensity should be increased to attract the attention of the people.
From the perspective of the industry, Mr. Le Huynh Minh Tu, Deputy Director of Ho Chi Minh City Department of Industry and Trade, assessed that the socio-economic situation of the country in general and the city in particular has faced many challenges due to both subjective and objective factors, significantly affecting the production and business activities of enterprises.
With the spirit of always accompanying and developing together with enterprises, the city’s industry and trade sector has implemented many programs and solutions to support businesses in production and business, promote exports, trade promotion, and domestic consumption, thereby creating a growth momentum for the economy. At the same time, these programs also bring unique shopping experiences to consumers and tourists, contributing to building the image of Ho Chi Minh City as a modern shopping destination in Vietnam and the region.
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