Low purchasing power prompts supermarkets to simultaneously run promotions | Business

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Supermarket systems have activated numerous promotional campaigns to stimulate demand. (Photo: SGGP)
According to representatives of supermarket systems, purchasing power is still falling by 30%, depending on the locality, compared to the time before the Covid-19 pandemic.

Besides the reason people face financial hardship due to prolonged social distancing causing them to cut back on spending, another reason is that they are always afraid to go to crowded places. Despite low purchasing power, the prices of some products still increase by 10 to 15%. For example, although the price of pork at the farm has dropped sharply to less than 50,000 VND per kg, currently the price of pork in supermarkets is still at a high level of around 100,000 VND per kg, according to types of pork. In addition, the prices of most imported foods have also increased.

According to statistics from the HCMC Ministry of Industry and Trade, retail sales of consumer goods over the past ten months have been estimated at nearly VND 401.5 trillion, down 15.5% from over the same period and accounting for 58.8% of total retail sales of consumer goods and services in the region.

Faced with low purchasing power, supermarket systems have activated numerous promotional campaigns to boost demand. “With the current relatively complicated market situation, most products have started to increase in price. Therefore, it is convenient to coordinate with brands and partners to reduce prices and share the pressure on spending with consumers, ”said Mr. Nguyen Ngoc Thang, director of operations division of Co.opmart.

Low purchasing power pushes supermarkets to simultaneously organize promotions ảnh 2 The Emart supermarket is also running a promotional campaign, with thousands of products at extremely low prices. (Photo: SGGP)

As a result, from November 4 to 22, nearly 1,000 outlets across the country of Saigon Co.op will simultaneously hold numerous promotions, discounts, reward points and shopping refunds. Notably, there is a discount program of up to 47 percent for over 11,000 essentials, a discount of over 50 percent for all kinds of milk, cooking oil, soft drinks, kitchen utensils on weekends. end and a 50 percent discount on ao dai, shirts and cosmetics as gifts for Vietnam Teachers’ Day.

Likewise, the Satra retail system and 186 Satrafoods convenience stores have launched promotions to stimulate demand.

The Emart supermarket has also rolled out a promotional campaign, with thousands of products at extremely low prices, to support consumption and help customers stabilize their lives.

Poultry egg producer Ba Huan also offers many discounts and freebies, such as buying ten egg trays and getting one free.

Low purchasing power pushes supermarkets to simultaneously organize promotions ảnh 3 People shop in supermarkets. (Photo: SGGP)

A representative of the HCMC Ministry of Industry and Commerce said that Ms. Phan Thi Thang, vice-chairperson of the Municipal People’s Committee, had just approved the policy of organizing the concentrated promotion program proposed by the department.

Accordingly, to ensure the safe and effective prevention of the pandemic for the promotional program, the HCMC People’s Committee tasked the Ministry of Industry and Commerce to coordinate with the Ministry of Health to issue a set of criteria for ‘assessment of the level of security against the Covid-19 pandemic for companies participating in the promotional fair held in the city.

The HCMC Ministry of Industry and Trade is responsible for coordinating with the Ministries of Industry and Trade of other provinces and cities to strengthen connection activities and supply of goods and encourage businesses to join the program. promotion of HCMC.

Low purchasing power encourages supermarkets to simultaneously organize promotions ảnh 4 Supermarkets are launching promotional campaigns to share the pressure with consumers. (Photo: SGGP)

The program, which will run from November 15 to December 31, aims to help new people and organizations participate in business activities, expand the existing distribution system after the pandemic, and create a foundation for improving business efficiency.

The first round of this annual program will run from June 15 to July 15 and the second round from November 15 to December 15.

All businesses and traders operating in the city can register to participate in the program, ”said a representative of the Ministry of Industry and Commerce.

By Lac Phong – Translated by Gia Bao


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