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Local retailers prepare for foreign competitor onslaught
Local retailers are in a race to retain customers as the country’s World Trade Organisation’s commitments will open up the market to foreign companies in January.
"The big question is how to keep the Vietnamese loyal to domestic goods in the long run, not only at a time of inflation," said Vu Kim Hanh, director of the Enterprise Assistance and Research Center.
The vice chairman of Phu Thai Group’s management board, Pham Hoang Ha, said that Vietnamese producers often export their best products to overseas markets and sell the inferior ones domestically.
"That’s why the Vietnamese have grown fond of imported goods," he added.
But he also pointed out that better product design, quality and up-to-date technologies would help local companies compete.
The Vocarimex Cooking Oil Company, for example, has developed new products to attract consumers, adding more nutrients to the cooking oil to improve quality and producing large-sized products to reduce label and packaging costs, Do Ngoc Khai, the company’s general director, said.
In an effort to retain customers, Tan Mai Paper Stock Co has kept prices stable, with few increases, and has upgraded technology to improve paper quality and reduce costs on energy and materials.
"We increase the price only enough to avoid going in the red," said director Tran Duc Thinh.
To ensure quality, An Giang Agriculture-Technique-Service Co (Antesco) threw away three tonnes of linh fish (a freshwater fish often salted) that was not up to quality standards.
"It’s a must as high quality is the key to the success of a business," said Huynh Quang Dau, Antesco’s director.
Sai Gon Co-op Supermarket stores have begun hosting a programme Kien thuc tieu dung (Shopping Knowledge) every Sunday, said Nguyen Ngoc Hoa, chairman of Sai Gon Co-op.
Participating businesses can introduce their products and services and improve consumers’ perception of domestic goods, Hoa said.
VNS
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