'Golden Price Shock Day' lures consumers

According to Hanoi Centre for Investment, Trade and Tourism Promotion (HPA), ‘Golden Price Shock Day’ took place simultaneously at 50 separate shopping spots, including major supermarket and store brands in Hanoi, such as Big C, BRGMart, MediaMart, MM Megamarket, Nguyen Kim, Saigon Co.opmart, and Winmart.

The shopping venues offered consumers more than one million products carrying discounts from 20 per cent to over half off, with some items even offering huge discounts of over 70 per cent.

These tempting offers helped draw in droves of shoppers, resulting in an almost triple increase in retailer revenue. Hanoi Promotion Month began on October 27 and is slated to end on November 30.

Sale at Big C

Le Manh Phong, managing director of Big C and Go! store chains under Thai-backed retailer Central Retail Vietnam, said "After the first week, sales revenue for Big C in Thang Long had improved by 10.6 per cent compared to the previous month. In parallel to Hanoi Promotion Month, Big C is running a specific scheme offering the consumers thousands of ‘always low price’ products, focusing on essential goods with most price incentive to customers."

On ‘Golden Price Shock Day’, BGRMart ran a scheme allowing consumers to taste many products, along with offering up to 50 price discounts on a number of essential goods, with a focus on beverages, rice, cosmetic items, and processed food.

According to a source at the retail group, BRGMart's revenue so far this month has seen a 60 per cent jump on-year. Confectionery has seen a 65 per cent jump, beverages have spiked 227 per cent, fresh food has surged 42 per cent, and pharmaceutical products are up 35 per cent.

Sales promotion at Media Mart

Meanwhile, electronic goods chain MediaMart set aside a budget approximating $84,400 for running promotion schemes on 'Golden Price Shock Day 'and a budget of around $422,000 for the whole promotional month.

Nguyen Thi Van Anh, director of MediaMart in Hai Ba Trung street, said, "Our company expects to see our revenue from 'Golden Price Shock Day' to soar 350-400 per cent compared to regular days."

The upbeat outcomes of the Hanoi Promotion Month show that the initiative serves as a bridge to help firms boost exposure of their brands while the consumers have a chance to access and grab quality products at competitive prices.

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