Hapro has 13 product groups registered under the market stabilization program. Photo: Hapro

Increase stock of goods

According to the General Statistics Office, the total retail sales of consumer goods and services in November 2021 was estimated at more than VND397 billion, up 6.2% over the previous month and down 12.2% over the same period last year. In 11 months, this index reached more than VND4.1 quadrillion, down 8.7% over the same period last year.

Although the total retail sales of consumer goods and services still decreased, it was still a remarkable figure after a long time being affected by the pandemic. According to experts, the recovery of the economy after the pandemic will help macro factors become more positive, including consumer income levels.

In addition, the year-end shopping season, especially the upcoming 2022 Lunar New Year, will also be an opportunity and motivation for retail businesses to accelerate production and business. Therefore, retail businesses have made business programs for the 2022 Lunar New Year, with a higher inventory than the previous year.

Accordingly, to prepare goods and services, a representative of Hapro said that its affiliated units and member companies have prepared a total reserve of goods estimated at approximately VND1,000 billion, which includes goods participating in the program to stabilize the market of essential products in Hanoi. Hapro determines that the peak of Tet sales in the corporation's retail system will be from the end of December 2021 to the end of January 2022.Hanoi Trade Corporation (Hapro) developed a plan to deploy a business program to serve Christmas, New Year's Eve and the Lunar New Year of the Tiger in 2022 in a synchronous manner to further promote the development of domestic trading activities in addition to promoting the development of the corporation's export business.

According to a representative of Hapro, the corporation has been proactive in capital, preparing many products to participate in stabilizing the market with the criterion that the selling price cannot be adjusted by more than 5% when the market fluctuates.

Also talking about Tet goods, Ms. Ta Thi Minh Hop, Supply Director of VinMart/VinMart+ retail system, said that the system has increased the quantity of goods by 40-50%, focusing on fresh products, food and essentials, seasonal items for Tet. To ensure a full and diversified supply of goods, WinCommerce (the company that owns the VinMart/VinMart+ supermarket system) has been working with major suppliers since September on output for key products.

In addition, many retail businesses and supermarkets also said that they had prepared a higher reserve of goods than last year, helping to ensure the supply of essential items. In addition, many supermarket systems also provide regional specialties, gifts, imported goods and Tet specialties to diversify consumers' needs.

Revenue is expected to be flat

Although they are preparing goods, businesses all recognize that the difficulties caused by the Covid-19 pandemic are greatly affecting the needs and spending ability of people.

Le Viet Nga, Deputy Director of the Domestic Market Department, Ministry of Industry and Trade, said that the impact of the pandemic has reduced the income of many people, so it is expected that the purchasing power in the last months of this year will not be the same compared to the same period last year, mainly focusing on food, foodstuffs and essentials to serve daily consumption needs and during the Lunar New Year of the Tiger in 2022.

On the business side, WinCommerce also forecasts that the purchasing power of the Lunar New Year 2022 will decrease slightly compared to the same period last year. Moreover, the impact of the pandemic will cause customers to tighten their spending, so consumers will tend to focus only on basic items for Tet.

Similarly, Hapro's representative said that in 2022, people's purchasing power and consumption demand will still be affected by the Covid-19 pandemic, so the corporation sets a target of total revenue of Tet sales in 2022 to be equivalent to the results of Tet 2021.

Previously, the Hanoi Department of Industry and Trade also estimated that the total value of goods for the 2022 Lunar New Year in the city would reach about VND39,000 billion - equivalent to the Tet holiday in 2021.

In the face of rather "bleak" forecasts about the 2022 Lunar New Year business season, retail businesses, besides preparing products, have to come up with plans, promotions and incentives to both stimulate consumer demand and increase competitiveness.

For example, a representative of Hapro said that in order to stimulate the purchasing power of consumers at Tet, Hapro has cooperated with BRG Retail Co., Ltd (BRG Retail) to offer promotions, discounts, and a free home delivery policy. In addition to direct purchase and sale at the point of sale, Haprofood/BRGMart, Hapromart and BRGMart supermarket chains also focus on promoting online shopping via apps BRG Shopping, social networks, hotlines, loyalty cards BRG Elite to best serve the shopping needs of consumers.