HCMC – The HCMC Department of Industry and Trade has kicked off a large-scale promotion program from June 1 to July 30, allowing firms to offer discounts of up to 100% on the prices of products and services for the very first time.
Alongside the program, the municipal department will organize a consumption promotion fair in Thu Duc District from July 2 to 5, which is expected to ramp up domestic consumption and help enterprises recover trade and production activities after the coronavirus pandemic is effectively controlled.
The department is also planning to organize a conference on the connection between the seller and the buyer in September.
Multiple supermarkets, commercial centers and some major electronics retailers such as Nguyen Kim and Thien Hoa have committed to participating in the program, stated the city’s department.
Le Thi Thanh Lam, deputy general director of Saigon Food, told Thanh Nien newspaper that the firm will offer discounts to customers on various goods. Frozen products will be discounted by up to 50%, while the firm will offer higher discounts on clothes, footwear and handbags, she noted.
A director of a fashion store chain stressed that although promotions can go up to 100%, very few firms would offer this rate. Most of them will offer discounts of up to 70% on some products, the director added.
He also said that with the cap on promotions lifted, enterprises will have the opportunity to promote sales, which had dropped due to the coronavirus pandemic.
Stating that the demand for goods at many member firms of the HCMC Rubber and Plastics Association is declining, Nguyen Quoc Anh, chairman of the association, said that offering discounts and promotions might be a solution to stimulate consumption.
However, as the profit margins on the production activities of this industry are not high, many products including plastic washtubs, baskets and rubber tires will only be discounted by up to 20%.
Anh hoped that more such programs and policies to support the poor and struggling firms would be launched.