Faced with difficulties caused by the impact of the global economy and domestic fluctuations, promoting consumer demand has become an important strategy to support businesses. This is not only a short-term solution to help businesses overcome difficulties but also an effective way to stimulate sustainable local economic development.

Many fairs organized by the Department of Industry and Trade help promote people's consumption needs.

According to the report of Thanh Hoa Provincial People's Committee, the growth rate of gross regional domestic product (GRDP) in 2024 reached 12.16%, exceeding the set plan and ranking second in the country, only after Bac Giang province with a growth rate of 13.85%. This is an impressive result, reflecting the synchronous development of key economic sectors in the province. However, to maintain and promote economic growth in 2025, it is necessary to focus on improving the business environment and supporting businesses to overcome difficulties. Currently, although it has entered the peak consumption season for Tet, people's shopping demand is still low, putting pressure on business activities of enterprises. Stimulating consumption not only creates motivation for enterprises but also contributes to achieving growth targets and controlling inflation.

Ms. Vu Trang Nhung, living in Dien Bien Ward (Thanh Hoa City), said: Her family's income has not increased compared to previous years, while living expenses are increasing. Therefore, from now until the Lunar New Year of At Ty, her family will tighten spending, focusing only on essential needs.

The survey shows that tightening spending like Trang Nhung's family is a common trend of many families today due to the pressure of rising commodity prices. This has put a lot of pressure on manufacturing and distribution enterprises, forcing them to find ways to adapt to market fluctuations. Ms. Nguyen Thi Mai, Director of Sao Mai Import-Export and Trading Joint Stock Company, a unit specializing in distributing high-end food in Thanh Hoa City, shared that the market is currently facing many difficulties. The number of orders from partners has decreased, forcing enterprises to adjust their production strategies to suit the actual needs and financial capabilities of customers. It is not simply adjusting output, but also finding ways to optimize processes, cut costs and maintain profits even in difficult economic conditions.

Ms. Mai also believes that the important thing is not only to cut costs or adjust production, but also to be able to innovate and understand the changing needs of consumers. Therefore, the company has been promoting research on consumer trends, understanding the market deeply and developing new products that are more suitable to current needs. Creativity in products, services and business strategies is the key to help businesses maintain their competitive advantage and firmly overcome challenges.

A typical example of adapting to current consumer trends is the fashion brand Yody. To meet the needs of customers in difficult circumstances, Yody has implemented special promotions and discounts on holidays, especially during the year-end shopping season. The company focuses on basic, easy-to-coordinate fashion products at reasonable prices, helping consumers balance their spending during the holiday season without worrying about finances.

Not only stopping at promotional programs, Yody also boldly applies technology to the production and sales process to optimize costs. This helps the company maintain product quality while still keeping competitive prices. At the same time, Yody also strengthens the development of online sales channels, expanding the online network to reach customers without having to spend on premises. These changes help Yody promote consumer demand, while maintaining business stability and strengthening customer confidence in the brand.

Currently, businesses are trying to find ways to increase sales through promotional programs and stimulate consumption. According to the Department of Industry and Trade of Thanh Hoa, in recent times, the province has increased trade promotion programs for businesses and cooperatives, while promoting the program of consuming Vietnamese goods. The exhibitions are carefully selected and suitable for each industry and market, helping to create opportunities for trade and connecting businesses with distributors.

Meanwhile, business associations hope that the province and relevant departments and sectors will support policies on capital, interest rates, tax exemptions, fees and charges to help businesses recover and develop in the current context. At the same time, creating favorable conditions for accessing information and potential investors, both domestic and foreign, is also an important factor to promote cooperation, improve raw material sources, technology transfer and investment.

Article and photos: Chi Pham