Several trade promotion programs launched to boost demand at year’s end

SGGP
According to the Ministry of Industry and Trade, the general purchasing power on the market showed signs of improvement, and the supply of goods, especially the group of essential food products, was very abundant in November this year. To maintain stable prices, enterprises need to focus all resources on production, organize more promotional activities and promotions to stimulate shopping demand at the end of the year.

Consumers go shopping at Aeon Mall in Tan Phu District. (Photo: SGGP)

Consumers go shopping at Aeon Mall in Tan Phu District. (Photo: SGGP)

In November, the market for essential goods did not experience any significant change. Some commodities, such as food, sugar, construction materials, slightly edged up due to increasing demand. Some items, including pork, foodstuffs, and fertilizer, saw a slight decrease in their prices as the supply rose. The prices of energy products tended to surge slightly because of the impact of global prices amid the influence of political and social factors.

The total retail sales of consumer goods and services were estimated at VND464.4 trillion in November, up 2.3 percent from the previous month and 8.5 percent from the same period last year. Of which, the retail sales of goods reached VND365.7 trillion, up 2.3 percent over the previous month and 13.2 percent over the same period last year, mainly because enterprises launched many promotional programs in the month, attracting consumers to go shopping. In the first 11 months of this year, the total retail sales of consumer goods and services hit VND4.59 quadrillion, up 2 percent compared to the same period last year.

In Ho Chi Minh City alone, according to statistics in November, the total retail sales of consumer goods and services were estimated at VND116.27 trillion, up 2.2 percent over the previous month and down 4.1 percent compared to the same period last year. Of which, the retail sales of goods in November were estimated at above VND73.91 trillion, up 2.2 percent compared to the previous month and 3.9 percent over the same period last year. Trading and service activities in November increased slightly compared to the previous month prior to the peak shopping season of the year. Food and accommodation service revenues in November were estimated at VND8.26 trillion, an increase of 3.3 percent from the previous month and a decrease of 21.8 percent from the same period last year. Of which, the accommodation industry has gradually recovered with the domestic tourist market because the demand of people from other provinces and cities coming to HCMC for healthcare continued to maintain, and the tourism and accommodation establishment diversify city tour packages.

According to the MoIT, at this time, the commodity market has started to be vibrant to support enterprises to restore production and business. The ministry will chair or coordinate with ministries, industries, and provinces to organize many supply-demand connection and trade promotion programs across the country to stimulate shopping demand of consumers, for instance, the program to stimulate domestic consumption, supporting to connect the consumption of safe food products of the industry and trade sector. The ministry also coordinated with the People's Committee of Hanoi to organize a trade conference to connect supply and demand of goods between Hanoi City and other provinces and cities, a chain of specialty fairs in 2020, attracting the participation of more than 400 manufacturing enterprises of nearly 60 provinces and cities nationwide and more than domestic and foreign 100 distributors. Moreover, the ministry also collaborated with the People's Committee of Vinh Long Province and the People's Committee of Yen Bai Province to organize regional-scale conferences to connect the supply and demand of Vietnamese goods.

Along with trade promotion activities, traditional and e-commerce business establishments in HCMC also launched many promotions and consumption stimulus programs on the occasion of Black Friday. Especially, to stimulate the demand of the domestic market, from now until the end of December 22, the Department of Industry and Trade of HCMC will run a centralized promotional campaign - Promotion Month in 2020 with the theme "Golden Season Sales" as a highlight for trade stimulus in the last months of 2020. Accordingly, most of the trade centers, supermarkets, and specialized stores in the area have registered to participate and respond to the program with discounts up to 80 percent depending on each item and product. It is expected that the cost that enterprises invest in this sales and promotional program is up to tens of billions of Vietnamese dong. After the Golden Season Sales program, enterprises will continue to shake hands with retailers to deploy the peak promotions for Tet shopping, in which many essential goods will decrease by 49 percent.

Regarding the preparation of goods for the Tet market, the Department of Industry and Trade of HCMC said that enterprises participating in the market stabilization program have prepared nearly VND19.68 trillion worth of goods for the two months of Tet holidays, an increase of 3.4 percent compared to the source of capital prepared for last lunar New Year, of which the value of goods from price stabilized sources is VND7.13 trillion. For the peak month of Tet, which is from the first day to the 30th day of the twelfth month in the lunar calendar, the total value of goods prepared by enterprises is more than VND10.42 trillion, and that of price-stabilized goods is VND4.17 trillion.

The preparation of Tet products is currently taking place quite smoothly, ensuring the plan and on schedule. Prices of essential goods for Tet continue to be stable.

By Hai Mien – Translated by Bao Nghi

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