The promotion up to 100% this year is held on a city-wide scale, including the traditional market.
The People’s Committee of Ho Chi Minh City has just approved the Ho Chi Minh City Department of Industry and Trade to launch a promotion program focusing on two periods of the year, June 15, July 15, and December 15-15. Ho Chi Minh City is the only locality that organizes this event every year with a promotion of up to 100%.
According to current regulations, promotions are limited to a maximum discount of 50%. Only concentrated promotions organized by provincial state agencies can apply the maximum promotional limit of up to 100%.
Mr. Bui Ta Hoang Vu, Director of Ho Chi Minh City Department of Industry and Trade, said the scale this year is bigger than every year. Currently, the Department is coordinating with the People’s Committees of districts and Thu Duc City to send 6,300 emails to traders and businesses to invite them to participate in the program. The difference of this year is that for the first time, Ho Chi Minh City allows traditional markets to participate in large-scale discounts.
According to Mr. Vu, in previous years, Vietnamese people who liked branded goods had to fly to Singapore or Malaysia to shop. From this year, they can buy discounted branded goods at the city’s concentrated promotion program.
“We will build a program to become a brand of Ho Chi Minh City so that not only domestic consumers but also tourists want to come to Vietnam every shopping season,” Mr. Vu emphasized.
Many businesses said that Covid-19 caused sales and profits to drop sharply, but this is an opportunity to stimulate consumer demand. Like The Gioi Di Dong will spend VND 33 billion on promotions and Saigon Co.op will reduce thousands of products at up to 70%…
Retail sales of goods in May was estimated at 57,757 billion dong, accumulated in 5 months reached 276,000 billion dong, up 8.1% over the same period. Sales of retail groups increased by more than double digits, including food and foodstuffs, cultural and educational products, and automobiles of all kinds.
Mr. Bui Ta Hoang Vu said that this data shows that the business situation of the company has begun to recover. The reason why the retail group had the highest growth rate was due to the reopening of trade centers and traditional markets. At the same time, international retailers have announced plans to open more supermarkets in Vietnam or many new restaurants and eateries that have attracted increased sales.
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