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High-grade fashion products unmarketable despite big discounts
The purchasing power has been decreasing dramatically at big trade centers, leaving commodities unmarketable. The more expensive the products are, the more difficulties there are in selling them, even though Valentine Day is nearing.
Many visitors, few buyers
At big trade centers, like Diamond, Parkson and Tax in HCM City, a lot of ‘sale-off’ notice boards were seen hanging at stalls on the weekend, but the sales were going very slowly.
The precinct reserved for clothes, footwear and handbag stalls at Diamond Plaza in HCM City was seen full of people, but there were more visitors than buyers. Meanwhile, the buyers mostly chose products that had low prices, or products with special offers.
The stalls of perfume and cosmetics seemed to be quiet with very few visitors. Van, an employee of Bourjours cosmetics stall said that the number of buyers has been decreasing dramatically after Tet, while in previous years, the pre- and post-Tet days proved to be the best time for sales.
The stalls of jewelry and precious stones, at Tax Trade Centre in HCM City, are facing the same situation. Only a few foreigners and couples were seen seeking gifts for Valentines Day. Mai, the owner of a jewelry stall, said that she has offered special prices and new products, but the sales remain very slow, adding that items worth more than VND 3 million cannot find buyers.
Slow sales are also what big trade centers in Hanoi are complaining about.
The number of visitors to Vincom Trade Centre seemed to be bigger on the weekend than during ordinary days. However, cosmetics, perfume, jewelry and fashion stalls did not catch much attention from visitors.
The saleswoman of a French brand of perfume, who asked to remain anonymous, said that most visitors went to relax at the cinema upstairs or play games. The stalls on the first floors just saw visitors, but no buyers.
The saleswoman related that customers nowadays always think twice before buying something, and they only spend money if they really like the items.
The situation proved to be quite different than in previous years, when she had a turnover of tens of million VND per month.
Lan Anh, a saleswoman in a glasses stall, estimated that 70-80% of people are visitors, while the number of buyers is very scarce nowadays.
Anh said that she can now only sell 2-3 products a day, and most of them are valued at less than VND 1 million, while VND 4-5 million are unsalable.
Sales prices slashed
Big trade centers in HCM City have all slashed sale prices in order to attract more customers.
At Diamond in HCM City, the clothes imported from Hong Kong and South Korea have seen prices down to levels equal to that of popular products. The price of a South Korean Baby Hunt’s T-shirt has decreased from VND 189,000 to VND 89,000, while other products have seen the prices cut in half. A Hong Kong’s Dfml dress has seen the price cut from VND 790,000 to VND 390,000, while Zzim’s products have been slashed from VND 500,000 to some VND 300,000, on average.
Footwear and handbags have dropped by 30-50%, and sometimes even by 70% in price. Kappa brand name sports shoes, which were offered at VND 1,550,000 previously, are now being offered at VND 775,000. A Zeades watch, which was priced at VND 5,260,000, is now seeking buyers who pay VND 2,630,000.
Distributors now have to slash their sale prices in order to attract more clients. The race of slashing prices has been going so rapidly that analysts say the price slashing movement in luxury items is even more fiercer than in normal products.
Nguyen Nga – Minh Quyen
vietnamnet
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