Hanoi firms slash prices to stimulate demand

(VEN) - The industry and trade sector of Hanoi is implementing numerous activities to assist businesses in capitalizing on high demand for shopping at the end of the year. These stimulus measures are expected to boost production and business activities while ensuring economic development goals.

Specifically, Hanoi Promotion Month 2022 took place in May, July and November with attractive discounts. Some of the other programs include "Green Hanoi, Green Connection" for enterprises in the fields of tourism, gifts and cuisine, with the participation of nearly 50 businesses. The event attracted more than 3,000 visitors daily. Additionally, the "Hanoi Sales Promotion" themed "Super promotion - Super discount" drew the participation of nearly 100 companies that offered handicrafts and industrial products under the One Commune One Product (OCOP) program, food, telecommunications, information technology, education and training. It attracted more than 5,000 visitors.

hanoi firms slash prices to stimulate demand
Promotional activities attract consumers

Hanoi's economy has grown significantly in the last ten months, according to Tran Thi Phuong Lan, acting director of the municipal Department of Industry and Trade. Total sales of consumer goods and services were estimated to reach VND2,848.6 trillion, up 20 percent from the same period in 2021. The ten-month retail sales of consumer goods and services increased by 28.8 percent to VND567.5 trillion, while export turnover was anticipated to reach US$14 billion, a 13.6 percent rise compared to the first 10 months of 2021, Tran added.

The municipal Department of Industry and Trade received about 10,000 applications for the 2022 Hanoi City Promotion Program, which focused on industries such as food, consumer goods, fashion, pharmaceuticals, electronics, telecommunications, banking, and real estate. The total promotional value was estimated at VND20 trillion.

Businesses have been making careful preparations to offer consumers numerous attractive promotions, Lan stated. For example, Mediamart offered a 15-70 percent discount for more than 30,000 products, focusing on televisions, refrigerators, washing machines, air conditioners, household appliances, technology products and more. To participate in the program, since the beginning of the fourth quarter of 2022, Mediamart has been working with suppliers to prepare the best source of goods, while at the same time training its sales staff. Similarly, the PICO electronics supermarket system also negotiated with manufacturers to reduce the average price by 20-30 percent for promotional products in November.

Additionally, consumer goods-focused stores like BRGmart, Big C, and Winmart have collaborated with major suppliers to prepare premium, safe supplies at preferential prices with discounts ranging from of 10 to 50 percent.

Tran Thi Phuong Lan, Acting Director of the Hanoi Department of Industry and Trade:

The Hanoi Department of Industry and Trade pledges to maintain effective coordination with relevant ministries, sectors and localities to carry out trade promotion initiatives, aiming to connect sellers and buyers, stimulate consumption and resolve difficulties for businesses.

Hai Linh
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