Efforts from supermarkets to stabilise prices

The efforts of supermarkets to stabilise prices

Until the close of business on March 23, GO!, Big C, and Tops Market – the retail chain owned by Central Retail Vietnam – are offering consumers a Supersaver promotion to reduce the pressure caused by the rising cost of fuel.

At GO! and Big C, a discount of up to 50 per cent is being applied to 390 products including fresh food, fast-moving consumer goods, cosmetics, household appliances, and apparel.

Many of their suppliers have also responded to the Supersaver programme. Customers who buy VND80,000 ($3.50) of Vifon products can save VND15,000 (65 US cents). Buying the same amount of Kinh Do products will save them VND10,000 (43 US cents) and any purchase of at least VND169,000 ($7.30) from the Vinamilk range will come with one free batch of fresh milk.

On March 7, the retailers launched a nationwide programme that applies a 10 per cent discount on all pork products and a 30 per cent reduction on all vegetables up to 10am.

At the Tops Market chain, the Supersaver programme offers a discount of up to 50 per cent. There is a buy two, get one free deal, and 50 per cent off when buying a second product of the same price.

More than 400 products are included in this offer, including vegetables, fresh meat and fish, and delicious imported food. The promotion, which runs until March 23, will provide a fun shopping experience for families across the nation.

Nguyen Thi Bich Van, head of communications at Central Retail said, "Petrol prices have continued to rise, putting pressure on suppliers, especially those of fresh food. It is difficult to predict how the price will change in the future, so as a responsible retailer, we negotiate with our partners daily to ensure the best prices for consumers. With our aim to provide the best value for money for our customers, we always apply a policy of price stabilisation."

Director of Hanoi Co.opmart Nguyen Thi Kim Dung said that they often sign contracts for the supply of goods at the beginning of the year, so the temporary increase in gasoline prices does not affect its supply contracts. However, because the price of input materials such as flour, butter, and cooking oil has increased, some suppliers have asked to increase their prices.

A representative of AEON Vietnam confirmed that there will be no case of sudden price spikes at its department stores and supermarkets. The retailer is working with suppliers to stabilise commodity prices over the coming months.

WinMart supermarket is also committed to keeping prices stable, with no shortage of goods and no increase in prices. A spokesperson from the company said that it always ensures the full supply of goods in all categories, especially essential items.

At wet markets, the cost of all meat and vegetables is climbing.

In the opinion of economist Vu Vinh Phu, although the increase in petrol prices puts pressure on essential consumer goods, commodity prices should not be adjusted immediately.

"There should be a delay after the supermarket sells out the available goods and receives new batches," Phu said.

He forecasted that at the end of the month, supermarkets would receive requests from suppliers to increase their prices if the cost of fuel remains high.