It is a good time of the year for customers to get their hands on top-quality goods for lower prices

Continuing on attractive sale promotions within Hanoi Promotion Month 2023, the city’s Centre for Investment, Trade and Tourism Promotion (HPA) launched ‘Golden Price Shock Day’ on November 11-12 concurrently at 50 major supermarkets and trade centres across Hanoi.

Along with this, the venues joining the programme expedited special promotion schemes with maximal price discounts surpassing 70 per cent.

According to HPA figures, the event enticed more than 10,000 consumers to the venue sites during the two days, with total sales revenue surpassing $2.1 million. The value of promotion products and gifts to consumers also approximated $844,000.

Le Manh Phong, managing director of the Big C and GO! chains in the northern region under Thai-backed Central Retail Vietnam, noted that 2023 has been a challenging year for retailers as purchasing power has been stagnant for most of the year, and the situation is expected to linger.

“Hence, to ensure efficiency of promotion programmes which run until the year-end, businesses need to ensure well-conceived preparations, particularly with daily food items such as meat and fish, fresh vegetables, and dried food. Currently, sales at marts under the system remains stable and are maintaining growth,” said Phong.

Phong unveiled that within the first week of launching Hanoi Promotion Month this year, the sales revenue of Big C Thang Long surged over 10 per cent compared to the previous month.

A source from BRGMart unveiled that through promotions, the revenues in its system from early November have spiked 60 per cent compared to a similar period in October.

Particularly, confectionery saw a 65 per cent jump in revenue, that of beverages more than tripled, fresh food surged 42 per cent, and cosmetic items hiked 35 per cent over a similar period last month.

In the electronics segment, MediaMart Hai Ba Trung director Nguyen Thi Van Anh unveiled that the chain has crafted huge promotions.

“The total budget of promotion programmes on November 11-12 approximated $84,400 in the MediaMart system across the country, and throughout November is set to reach $422,000,” she added.

Do Manh Dung, a consumer living in Ba Dinh district, remarked, “Local products have constantly improved in quality and design. Discounts within the Hanoi Promotion Month 2023, therefore, provide an opportunity for consumers to grab quality products at a good price.”

In respect to the benefits of Hanoi Promotion Month to participating businesses, HPA deputy director Bui Duy Quang noted that the event is an efficient measure as it creates a useful playing ground connecting producers with offline and online distribution channels.

“Amid export growth slow-down, diminishing consumption against rising inventory, and many exporters encountering a shortfall in export order intake, fuelling domestic consumption is deemed a crucial measure to supplement growth towards the year-end,” Quang said.

Since July, a 2 per cent VAT reduction to 8 per cent, applicable to many items, has contributed to pushing up GDP growth.