Crazed consumption on Online Friday

Online Friday 2017, the largest annual shopping event for the e-commerce business and consumer communities in Viet Nam, took place on Friday with discounts ranging from 30 to 50 per cent.

The programme runs from midnight to midnight on the first Friday of each December, beginning in 2014. It provides opportunities for consumers to acquire quality products at a discount.

Online Friday 2017 attracts the participation of manufacturers, goods and services suppliers, delivery enterprises and banks and organisations providing payment services.

It also helps businesses strengthen their connection with partners, promoting the development of a professional e-commerce supply chain.

More than 5,000 guaranteed products from 50 guaranteed enterprises are beinge offered. Businesses taking part include Adayroi, Lazada, Shopee and Nagakawa, as well as Sunhouse, Anbico, Sendo and Leflair.

Customers can easily shop and interact with businesses through online and offline activities, along with many available surprise promotional offers.

The promotional programmes also offers free deliveries. If consumers know how to hunt discount codes, they may win top products for extremely cheap prices.

To try and win a super cheap iPhone X VND4.990.000 (US$219), customers need to visit the website www.onlinefriday.vn, download the Online Friday application through the Appstore or CHPlay, then scan the quick response code to get an immediate discount code. After scanning the code, the system randomly selects the winners.

Chu Quang Hao, deputy director of Viet Nam Post Corporation (VNPost), estimated that the growth rate of online payments via the Quick Response (QR) Code will increase from 300 to 400 per cent on this day.

The technology is popular throughout the world and is being introduced gradually in Viet Nam in many fields, such as post offices, security, goods delivery, medical and trade.

Using the QR code for payment gives customers quick and accurate purchases and enables them to search for goods as well.

The organisers have co-operated with price comparison partners, including Websosanh.vn, Topgia, to make sure the promotions are genuine and not good that have been marked up - and then marked down again.

The event has been organised by Viet Nam E-commerce and Information Technology Agency (Vecita) under the Ministry of Industry and Trade.

Online Friday, approved by the Government, is an annual event held since 2014.

Last year, the total sales of 30 large companies hit VND664 billion ($28 million), tripling the sales of the previous year.