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Discounts aim at lagging sales
Shopping malls and supermarkets are offering discounts to promote sales, which have nosedived in response to the fuel price hikes.
Suppliers are lowering prices because many families, already hit hard by the price hikes, spend more in preparation of the school year, say representatives from various Ho Chi Minh City supermarkets.
Prices of food, cosmetics and household appliances have already lowered since mid-August, according to Nguyen Phuong Thao, director of Maximark Cong Hoa Supermarket.
At present, the Big C supermarket chain is offering a 16 percent discount on 30 fresh and preserved food items, a 38 percent discount on household appliances, and a 32 percent on clothing, according to Duong Thi Quynh Trang, Big C’s Public Relations Manager.
Big C has announced more discounts coming this September, including Tien Giang rice by 10.5 percent, Tuong An cooking oil by 7 percent and vegetables by 15-20 percent.
Customers will also see a 3-10 percent discount on cooking oil and rice at the Co.op Mart chain. The supermarket will launch a sales promotion campaign worth over 20 billion VND (1.25 million USD) this month.
In Hanoi , food prices fell by 5,000-10,000 VND per kg for pork and 2,000-9,000 VND per kg for vegetables.
Retail prices of Thai Nguyen steel recently decreased by 500,000 VND (31.25 USD) to 18.3-18.5 million VND (1,143-1,156 USD) per tonne. Viet-Uc steel which was over 21 million VND (1,313 USD), is now approximate to Thai Nguyen.
Vietnam Steel Corporation also announced a second adjustment on steel prices this month, down by 300,000-500,000 VND (18.75-31.25 USD) per tonne for the retail market.
Steel prices will continue to drop as the price of imported steel ingot fell from 1,200 USD to 950 USD per tonne, said Nguyen Huy Tam, general secretary of the Vietnam Steel Association.
Moreover, the rainy season in Vietnam ’s southern region is delaying construction, pushing supply over demand, Tam said.
Following suit, ashlar brick prices are also down ten percent to 80,000 VND (5 USD) per sq.m. Electrical goods stores are offering a 35 percent discount as well.
VNA
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