Supermarkets try to keep prices to stimulate purchasing power

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MM Mega Market implements the "Price Lock" program for more than 500 food items and necessities

According to the report of the Ho Chi Minh City Department of Industry and Trade, the total retail sales of goods and services were estimated at VND 263,981 billion in the first three months of the year, up 4.7% compared to 2022 (decreased by 4.8% in the same period); in which the retail sales of goods was estimated at 163,606 billion dong in 3 months, up 9.1% (in the same period, increasing by 4.8%), accounting for 61.97% of the total retail sales of goods and services.

Ms Nguyen Thi Thu Hien, Director of External Relations of Central Retail Vietnam Group, said that the purchasing power at the Central Retail system was currently about 10% higher than in the same period last year, but it was not sustainable. In the consumer's basket of goods, essential items accounted for the main proportion, while other items have been greatly reduced in spending.

The situation at the retail systems of MM Mega Market, Saigon Co.op, Satra is similar. Consumers spend their budgets only on essential products.

In response, Mr Ngo Hong Y, Head of the Trade Management Department, Department of Industry and Trade of Ho Chi Minh City, said that the Department of Industry and Trade of Ho Chi Minh City continued to promote the implementation of stabilizing the commodity market, to limit the increase in commodity prices, especially for essential food products, and foodstuffs. Up to now, the distribution system in the city had 3 wholesale markets, 223 operating traditional markets, 239 supermarkets, 47 commercial centres and more than 3,000 convenience stores; distribution systems were still maintained, ensuring the ability to supply essential food items for people in the area.

The market stabilization program in 2023 - Giap Thin Tet 2024 has 44 enterprises participating in food and essential food products (including dairy products), an increase of 3 enterprises compared to 2022 and 11 enterprises stabilizing the market of learning products, most of which are large-scale enterprises with reputable brands, occupying a high market share.

The highlight of this year's program is that many participating enterprises are committed to keeping prices for consumers to pull purchasing power back up. Mr Bui Ta Hoang Vu, Director of the Ho Chi Minh City Department of Industry and Trade, said that although input prices for products are increasing, manufacturers and distributors are committed to keeping prices for people. This shows a great sharing from enterprises and distributors to accompany Ho Chi Minh City to support people in difficult times. Furthermore, to support enterprises, manufacturers and distributors, the Department will also accompany enterprises during the implementation period by providing timely support when difficulties and problems arise.

Nguyen Duc Toan, Managing Director of Vietnam MM Mega Market Company, said that when participating in the market stabilization program, the company committed to keeping stable prices by providing food-safe products, meeting quality standards, with reasonable prices, and abundant and stable supply. The company also ensured a balance between the supply and demand of goods to meet the demand of the people, even in the case of market fluctuations. Accordingly, in the second quarter of 2023, the company would have wholesale price stabilization programs for consumers nationwide with more than 40 fresh products such as pork, chicken, beef, seafood and pork. Variety of vegetables, fruits. with good preferential prices like wholesale markets, thanks to the direct purchase from the cultivation and husbandry areas, according to the closed model "from farm to table".

In addition to the market stabilization program chaired by the Department of Industry and Trade of Ho Chi Minh City, the distribution systems in the area also implement promotions and flash sales. The system of 21 MM Mega Market centres implements two programs, "Wholesale price", like the price at the wholesale market for more than 40 fresh food items and the "Price lock" program for more than 500 food items and necessities.In addition, thee Big C and GO! systems cooperate with distributors to implement the program "Always cheap price" to bring customers over 1,000 cheaper products from now until the end of the year, including agricultural products, fruits, fresh products, consumer goods, dairy products...

Co.opnart and Co.opXtra supermarket chains participate in stabilizing prices in 11 commodity groups with a commitment of price reduction by 5-10% compared to market prices. In particular, from this April 20, Saigon Co.op will launch a 3-week birthday promotion program with thousands of items with discounts of up to 50% for customers. In addition, the Bach Hoa Xanh system launches a series of new promotions: when buying online at Bachhoaxanh.com, customers will receive a shipping subsidy for bills from only VND 100,000. Furthermore, main enterprises supplying livestock meat, poultry, and eggs in Ho Chi Minh City, such as Vissan, San Ha, and Ba Huan, announced 20-30% discounts for many popular consumer goods.