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Producers are trying to pamper consumers: food association
More than 200 enterprises, the members of the HCM City Food and Foodstuff Association, has committed to keep prices stabilized for sales for Tet. Nguyen Chi Nguyen, Deputy Chairman of the association, said that producers now have to ‘pamper’ consumers or they will lose business because consumers will turn their backs on their products.
Nguyen said:
Lower purchasing power is the thing which is occurring in reality, not just the forecast. The HCM City People’s Committee has announced the spending of VND 400 billion to help stabilize the prices of nine essential products; therefore, the prices are expected to decrease by 5-10%. The announcement has encouraged our members.
Co-op Mart has stocked up some VND 700 billion worth of merchandise for the Tet sale; Vissan has increased their stored meat volume by 50%, while committing to slash sale prices by 3-10%. We had a meeting of member companies to discuss the measures to stabilize the market for Tet days. All enterprises have committed to cut down production costs and cut down profit in order to build up the most suitable price schemes.
Tet proves to be the hottest sale season of the year and the time for producers and suppliers to raise sale prices spontaneously. Do you have any message to consumers this Tet?
We cannot give a common commitment for all enterprises, but we have decided not to raise prices on Tet. It is the ‘sensitive’ moment and producers need to ‘pamper’ consumers, try to retain them. If consumers turn their backs on products, businesses will lose out.
Consumers are trying to tighten their purse strings in the high inflation period. What do you think businesses need to do to stimulate the demand?
It is clear that consumers are expecting the commodity prices to decrease further. Therefore, businesses have no other choice than cutting down the business cost, slashing sale prices and accepting lower profit to access consumers. If producers keep the sale prices high, consumers will not purchase their commodities which will make their business more difficult.
At this moment, I think that businesses need to return to the traditional way of contribution, bringing commodities to every dead end street.
Tuoi tre
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