31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Hanoi retailers step up year-end shopping promotion
Hai Yen - Anh Ngoc 20:59, 2022/11/21
Over 500 businesses have participated in the Hanoi Promotion Month, with 2,000 products subject to discounts of up to 70%.

Broad-based promotional campaigns at supermarkets under the Hanoi Promotion Month have resulted in an increase in revenue by 20-30% against the previous months, which also reflects rising local consumer demand during the year-end period.

 Locals at Big C supermarket during the weekend. Photos: Anh Ngoc/The Hanoi Times

A survey conducted by The Hanoi Times at major supermarkets in Hanoi, such as Big C/GO!, Co.op Mart and Lotte Mart, shows that the number of customers over the past weekend soared by 60-70% compared to previous days.

Nguyen Thi Diem, a resident of Hanoi's Dong Da district, said the big discounts from retailers were a key factor, especially for kitchenware.

“The more you buy, the steeper the discount, which is quite attractive for customers,” Diem told The Hanoi Times.

For retailers to be able to offer discounts of up to 50%, many had been working with suppliers and distributors for months to optimize the operational process and cut unnecessary costs.

Director of Saigon Co.op in North Le Thanh Liem said the supermarket chain offers discounts of 5%-40% for essential goods and products.

Pham Thi Huan, General Director of poultry firm Ba Huan, said the company is running 10% to 20% discounts on all products. "In anticipation of increased demand, we have increased production capacity at all plants in the North," Huan said.

 The Garment 10 Company offers discounts up to 50% during the Hanoi Promotion Month.

Ensuring product quality and supplies

The annual Hanoi Promotion Month, which kicked off on November 4, aims to boost domestic consumption and expand business/production activities.

Local authorities estimated that more than 1,000 outlets selling discounted goods across the city would contribute to the recovery of the retail sector after a long-struggling period during the Covid-19 pandemic.

Acting Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan pointed to the diversification of products registered to participate in the event this year, as the agency received 2,000 discount notices from 500 local stores worth VND4 trillion ($161 million) during the month-long promotion.

Ahead of the upcoming New Year festive period, Lan said the market authorities are monitoring the supply-demand situation at major markets and working with key distributors in the city to ensure sufficient supplies of goods during the year-end period.

Vice Minister of Industry and Trade Do Thang Hai stressed the significance of national promotion month as a critical measure to help businesses overcome difficulties and boost sales revenues. The key issue, however, would be to ensure sufficient supplies and product quality, he said.

“In addition to efforts from the local authorities, suppliers and producers are encouraged to use hi-tech applications in origin tracing and checking information on food safety standards,” he continued.

Hai expected the market authorities from all 63 provinces/cities would strengthen supervision activities during the national promotion month to strictly deal with low-quality and fake products.

“The national promotion month 2022 is scheduled to take place from November 15-December 22. We expected this would help double retail revenue compared to last year and contribute to economic development,” Vice Minister of Industry and Trade Do Thang Hai.

TAG: hanoi retailers hanoi consumption hanoi lunar new year
Other news
21:39, 2023/39/28
Vietnam spends US$9 billion on oil imports in 2022
South Korea was the largest petroleum supplier of Vietnam, with 3.22 million tons, up 96% year on year.
20:05, 2023/05/26
Vietnam set for robust economic growth in 2023: Experts
The country’s economic performance next year will remain solid despite strong headwinds.
14:45, 2023/45/19
Vietnam calls for int’l support in green development
Vietnam would not sacrifice social advancement, equality, and the environment for economic growth.
13:45, 2023/45/17
Switzerland to support Vietnam’s transition to green economy
Vietnam encourages Swiss investment in high-priority fields such as finance banking, insurance, manufacturing and processing, pharmacy, renewables, and tourism.
16:27, 2023/27/12
Vietnamese Govt to restructure real estate, bond markets in 2023
The main objective for Vietnam in 2023 remains to ensure stable macroeconomic fundamentals, contain inflation, and boost growth.
14:41, 2023/41/10
Vietnam strives to become developed country by 2050
The average GDP growth should be around 7% for 2021-2030, and GDP per capita would reach US$7,500 by 2030.