Stimulating consumer demand

In anticipation of the “Consumer Wave” in the final months of the year, supermarkets, shopping malls, retail businesses, and convenience stores in the province have launched many consumer stimulation programs with various methods such as deep discounts, gift giveaways, lucky draws, and more.

The Dien May Xanh electronics supermarket, located at 1606 A Hung Vuong Street, Viet Tri City, has regularly improved its business methods to provide the best shopping experience for customers. Ms. Dinh Thi Hong Nhung, the manager of Dien May Xanh, said: “Currently, the supermarket offers a ‘buy now, pay later’ scheme to help customers ease their financial burden. This is a form where consumers are supported with an interest rate of up to 0%. When purchasing products, customers do not need to pay upfront or pay a very small amount in advance; the remaining amount will be divided and paid over several months. With this form, Dien May Xanh customers are not required to pay any hidden costs such as conversion fees or other incidental charges, and the approval rate is very high, with over 80% of applications being approved for installment purchases. Through this method, we hope to support consumers who are facing financial difficulties and tightening their spending, making shopping more affordable and easier with Dien May Xanh.”

A visit to other major supermarkets like Aloha, Coopmart, Go!, and WinMart reveals that they have also launched many consumer stimulation programs, offering promotions such as direct discounts on products, gift giveaways, and “buy one, get one free” offers. These programs focus on high-demand items for the year-end period, including food, beverages, snacks, cosmetics, and personal care products.

Specifically, GO! Viet Tri supermarket is one of the reliable sources providing consumer goods for the people in the province in general and Viet Tri City in particular. As a leading retail unit, GO! Viet Tri supermarket has always strived to ensure a sufficient and diverse supply of goods, meeting the consumption needs of the people with the most stable prices. Notably, the supermarket has been implementing promotional programs with deep discounts ranging from 20% to 49%.

In addition, to help consumers shop conveniently without worrying about prices, the supermarket has worked closely with all suppliers to stock up goods starting from October 2024 to provide the best service to all of its customers. Essential goods have been stocked up with an increase of 10% to 25% compared to the same period last year to ensure the demand is met.

In the final months of the year, trade promotion activities and consumer stimulation programs are in full swing, with many trade connection programs being organized; the promotional programs to stimulate consumption are actively implemented by businesses.

As a result, the province’s trade and service revenue has been quite good. In the first 11 months of 2024, the total retail sales of goods and consumer services are estimated to reach 52,556.6 billion VND, an increase of 13.9% compared to the same period last year.

Of this, retail sales accounted for 82.7% of the total, increasing by 14.1%; revenue from accommodation and food services made up 10.3% of the total, increasing by 13.5%; and revenue from travel services and other services accounted for 7%, increasing by 11.9%.

After 11 months, revenue from various categories has increased compared to the same period last year: Apparel increased by 25.5%; food and beverages increased by 19.4%; household goods, tools, and equipment increased by 15.5%; other goods increased by 14.3%; all types of fuel increased by 11%; passenger cars (under 9 seats) increased by 9.5%; other fuels (excluding gasoline and oil) increased by 8.4%; revenue from automobile, motorcycle, and motorbike repair services increased by 8%; wood and building materials increased by 7.5%; transportation vehicles excluding passenger cars (including parts) increased by 6.9%; precious stones and metals increased by 5.7%; cultural and educational items increased by 4%.

It is forecasted that from now until the Lunar New Year of the Snake 2025, consumer purchasing power will increase. To facilitate businesses in boosting consumer demand, the Department of Industry and Trade will enhance its review process and make procedures more convenient for enterprises and supermarkets to carry out appropriate promotional programs. The department will also coordinate with relevant authorities to monitor supply-demand situations, prices of goods, and take measures to stabilize the market. In addition, the Department of Industry and Trade will work with functional units to strictly handle cases of smuggling and commercial fraud.

Furthermore, the Department will guide businesses in planning for inventory management during the Tet holidays to ensure abundant goods and prevent disruptions in the supply chain during the consumer demand stimulation process. Notably, in December, the Department launched the “National Focused Promotional Program 2024 - Vietnam Grand Sale 2024” across the entire province. As part of this, all businesses in the province have the right to participate by actively carrying out a variety of promotional activities to attract customers and are free to set the promotion limits.

Anh Tho