Recently, in Vung Tau City, the Department of Industry and Trade of Ba Ria - Vung Tau province coordinated with local departments and branches and a number of units to organize the Opening Ceremony of the Brand Promotion Event - Flash Sale Holiday 2024. This is a meaningful event in the series of programs to stimulate consumption, promote trade and socio-economic development of Ba Ria - Vung Tau province.

According to the Department of Industry and Trade of Ba Ria - Vung Tau province, this event has many important goals such as creating opportunities for businesses and traders in the province to connect directly with consumers. Thereby, affirming the quality of their products, services and brands; promoting the consumption of high-quality goods with special incentives, bringing civilized and modern shopping experiences to people and tourists...

There are more than 300 famous domestic and foreign brands participating, such as: Lacoste, Nike Golf, Nike Swim, ECCO, Valentino Creations, Cole Haan, An Phuoc, Pierre Cardin, Adidas, Dior, Gucci, Burberry, Narciso... In particular, leading brands are committed to offering attractive promotions, with discounts of up to 80% for many products. In addition, customers will receive an additional 5% discount on the bill when paying without cash.

The program "Mobile Sales - Market Stabilization for Tet 2025" is being implemented by the Department of Industry and Trade of Ho Chi Minh City (Photo: Huyen My)

Along with the event in Vung Tau City, the program "Mobile Sales - Market Stabilization for Tet 2025" was recently deployed by the Department of Industry and Trade of Ho Chi Minh City. The event gathered more than 500 product codes of 40 essential items in industries such as chemicals, cosmetics, food, consumer goods, and kitchen equipment. The items are provided by reputable domestic and international enterprises, sold at special preferential prices. This is the opening point in a series of mobile sales programs lasting from December 10, 2024 to January 5, 2025.

These two events were organized in response to the National Concentrated Promotion Program recently launched by the Ministry of Industry and Trade. The event aims to stimulate year-end consumption - trade promotion activities regularly organized by localities at the end of the year. However, the difference between the two programs mentioned above is to bring "cheap branded goods, high-quality Vietnamese goods, stable prices" to consumers.

In fact, the domestic market has not grown as expected in recent times. A report from the Ministry of Industry and Trade shows that total retail sales of goods and consumer service revenue in the past 11 months increased by only 8.8% over the same period, lower than the 9.6% increase in the first 11 months of 2023. This shows that purchasing power in the market is still low, income is limited, so consumers are still quite cautious in spending.

Meanwhile, in the past, when promotional events to stimulate consumption were held, many consumers were quite indifferent, thinking that the goods at these events were not of high quality. Many businesses also frankly said that many goods, especially consumer goods brought to events, were goods from previous seasons, no longer the latest trends on the market. Thus, those products could have competitive prices.

Although consumers are tightening their spending, the end of the year will be the time when consumers open their wallets to buy goods for the holidays. Many consumers want to buy genuine branded goods. However, the prices of these goods are often high compared to their income and ability to pay. Therefore, opportunities to access branded goods at competitive prices are good opportunities to stimulate consumer demand.

Talking to reporters of the Industry and Trade Newspaper, economic expert Vu Vinh Phu emphasized that promotions are not only an opportunity to stimulate consumption, but also an extremely good opportunity for businesses to promote their products to consumers. Therefore, businesses need to stop thinking about "quick wins" and need to bring programs to stimulate demand for truly quality products. When consumers buy quality goods at affordable prices, they will certainly choose to continue to be "loyal" to other products of that business.

In particular, at the end of the year, many businesses have made efforts to participate in stimulus programs in specific areas such as rural areas and industrial zones. These are areas with great potential, but consumers' incomes are not high. Therefore, businesses must consider promotions and mobile sales as opportunities to promote their products.

“Each business participating in the promotion program must strictly comply with the regulations on promotion, trading in goods and services with guaranteed quality. Businesses need to identify this as an opportunity to boost consumption through product quality and real preferential policies for consumers to aim for the long-term goal of affirming the brand and developing sustainably in the domestic market,” Mr. Vu Vinh Phu affirmed.

At the launching ceremony of the National Concentrated Promotion Program in early December, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan expressed great expectations for this program. “With the response of localities, industry associations, businesses, especially from tens of millions of Vietnamese consumers, the National Concentrated Promotion Program 2024 deployed nationwide will be one of the important and practical contents in implementing the key tasks and solutions set forth by the Ministry of Industry and Trade, helping to maximize the domestic market that is recovering well to increase total retail sales of goods and consumer service revenue in the year-end period, contributing to maintaining high growth of the economy” – Deputy Minister Nguyen Sinh Nhat Tan said.

The reality from the branded product promotion program and bringing high-quality Vietnamese products to industrial parks implemented by the Department of Industry and Trade of Ho Chi Minh City since last August shows that consumers are very excited about the event and the revenue of businesses is not low. Therefore, positioning the image of promotional programs, stimulating demand, and mobile sales trips with branded and quality products is the shortest way to help businesses achieve their year-end revenue targets. At the same time, it is also the solution for the domestic market to affirm its role in economic growth in the current difficult period.