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Electronics ‘super’ powers take over Hanoi market
With attractive promotions and top notch facilities, newly-established electronics supermarkets and centers in Hanoi have left small electronic appliances shops scrabbling to stay in the game.
“They have abundant capital, large shops, professional advertisements, regular promotions and a wide range of products,” said Nguyen Huu Hoa from Tuan Chung Shop on Hai Ba Trung Street. “As a result, they have lured a great number of customers,”
Since late last year, two major electronics supermarkets – Pico Plaza and Media Mart – have opened on Hanoi’s Hai Ba Trung Street, which has been traditionally populated by small electronics stores.
Nguyen Kim Shopping Center and Best Carings, the franchise of Japanese electronics supermarket chain Best Denki, have also set up shop on Hanoi’s Trang Thi and Ba Trieu streets, near Hai Ba Trung Street.
Owners of small shops on Hai Ba Trung Street said a steep drop in sales since late last year had reduced revenue by 30-50 percent, even though he had introduced special discounts for customers and cut spending on employee payments and commissions.
Hoa said his shop was offering a 21-inch Panasonic TV at VND3.4 million (US$205). The same product was priced at VND3.55 million ($214) at a nearby electronics supermarket.
The storekeeper of Minh Ly shop, Nguyen Van Tho, said his shop was offering a 20-25 percent discount for a California brand karaoke set but was still finding it difficult to attract customers, who seemed to prefer shopping at the electronics supermarkets even though the discounts offered there were not as attractive.
While small shop owners are attempting to lure customers with large discounts, it seems their advertising and marketing campaigns – the key to effectively promoting products and winning market recognition – are grossly underdeveloped.
“Now, only regular customers come to my shop,” Tuan Chung Shop’s Hoa said.
Thanhnien
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