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Manufacturers getting along to try to consume inventory
The low consumption demand and the big inventory volumes are the two biggest problems manufacturers are facing which make them worried stiff.
At Metro Binh Phu, there was no queue at noon of February 11. All buyers could make payment immediately, even though only some counters operated. There were not many visitors inside. The same situation could be seen at traditional markets in HCM City, including Tan Binh, Hoang Hoa Tham and Tan Dinh.
Purchasing power decreases
Ngo Van Hai, Director of Citimart chain, has noted that the demand is very low. “The number of buyers has decreased by 20 percent in comparison with the same period of the last year,” Hai said.
Mai Ngoc, the owner of a children’s toy shop on Hai Thuong Lan Ong Street in district 5 of HCM City, said that in previous years, the sales after Tet holiday were relatively high with the revenue of 30-40 million dong per day. Meanwhile, the sales have been going very slowly so far with the modest turnover of 15 million dong per day.
Nguyen Huu Toan, Director of Sanding Fashion Center, the sales have dropped by 30 percent in comparison with the same period of the last year.
A lot of home appliance centers in HCM City have opened again since January 30, but the salesmen have been sitting idle since then, because of very few buyers. Mobile phone distributors gather meetings every day to discuss the solutions to boost sales. However, the situation has not been improved.
According to Dinh Anh Huan, Business Director of The Gioi Di Dong, the average sales of the supermarkets of the same chain in HCM City, the strategic market of the distributor, are just 100 million dong per supermarket per day.
“In previous years, the sales were very high on the first days of the new lunar year. We could get 140 million dong a day,” he said.
HomeOne, a home appliance center in Go Vap district of HCM City, has been quiet from the morning to the afternoon; and on weekends as well. The nearby Nguyen Kim and Thien Hoa supermarkets seem to be more crowded, but most of the visitors go there just for window shopping. Very few people buy valuable things such as LCD TVs, refrigerators and air conditioners.
Computer supermarkets including Phong Vu, Hoan Long, Bach Khoa are facing the same problem.
Goods left unsold since Tet
The low demand has led to the big inventory volume. Especially, food distributors have been put on tenterhooks because of the high inventory volume, which has been left unsold since Tet.
A pork distributor has revealed that though the chain has slashed the sale price by 10,000 dong per kilo, the sale of pork has been left unsold.
Another food distributor has revealed that a big volume of poultry meat is still being kept at the company’s storehouse. The poultries were slaughtered before Tet for Tet sale, but they have not been sold out.
This explains why farmers have raised the sale prices of chicken, but the retail prices at supermarkets remain unchanged. Especially, on February 11-19, at Vinatextmart and Maximark, buyers can enjoy the price discount of 10 percent when buying leg of pork.
Hai said that the unsold products are mostly sweets, chocolate, canned tea, processed food. Manufacturers would take back sweets and chocolate to sell on Valentine Day or Women’s Day. Meanwhile, other products need to be sold as soon as possible. In some cases, the unsold products would be used as associated gifts for buyers.
Lacking cash and having big inventory volume, a mobile phone distributor has reportedly joined forces with mobile network operators to sell products at low price of 400,000 dong to workers in the Long An industrial zone.
vietnamnet
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