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| Customers shop for electronics at Media Mart in Ha Noi. Domestic businesses are offering promotions to reduce stocks of inventory. Analysts have said that tough times have forced producers to seek new ways to survive. — VNS Photo Thai Ha |
HCM CITY (Biz Hub) — Local enterprises are increasingly launching sales promotion to limit inventory and stabilise production, according to independent market watchdogs.
Analysts said that tough economic times had forced producers to seek new ways to survive.
In addition to supplying the market with products that have diversified designs, reasonable pries and high quality, many producers have focused efforts to offer sales that meet consumer demand.
Trade centres, supermarkets and retail stores typify this trend. They have regularly launched sales promotions that last two to three months, offering discounts of up to 50 per cent or more, depending on the product.
The director of a retail company in HCM City, who declined to be named, said that enterprises often had high turnover during these promotions.
Nguyen Khanh, director of the Thien Hoa Group, agreed, saying his company had more sales and had achieved high turnover with such promotions.
He said that many promotions are launched during holiday periods.
Sales are offered for high-demand products such as household appliances, accessories and cosmetics, as well as for high-grade products with top brand names like Karen Millen, Coast, DKNY, Swaroski, ICB, Nine West and Steve Madden.
Shops at Sai Gon Tax Trade Centre have offered big discounts on name brands also.
Nguyen Thi Hong, vice chairwoman of the HCM City People's Committee, said the city government had also called on enterprises to participate in consumer support programmes through sales promotions to stimulate demand.
Analysts said consumers had welcomed the promotions, particularly during difficult economic times.
City resident Phan Thu Ha of Tan Binh District said her family "often hunts for sales programmes where we can buy good quality products at low prices" in order to reduce spending.
Vu Thi Kim Dung, marketing director of Parkson Mall in HCM City, said: "Enterprises should make thorough preparations before launching sales promotions if they want to win over consumers. In particular, they should pay more attention to quality as well as prices." — VNS