The main shopping season of the year is about to begin and electronicscompanies are focusing on sales as part of the efforts to improvedisappointing turnover since the beginning of the year, said VietnamEconomic News.
Increasing phone and computer purchasing power
According to retailers, the sale of electronic goods in the thirdquarter was better than in the second quarter and it is expected toincrease in the fourth quarter of this year.
Thedomestic retail market warmed up in September and October, with recordedincreases in sales of laptops, tablets, and smart phones, compared withthe previous months. Dang Thanh Phong from Thegioididong.com said "mobile phone sales in the third quarter rose approximately 15 percent,laptops by about 80 percent, and tablets by 70 percent, fairly highpercentages compared with the same period last year.”
According to the representative of FPT Shop, smart phones priced from VND4-6 millions sold well due to their good value.
According to Chairman of the Vietnam Electronics Enterprises’Association (VEEA) Le Ngoc Son, the phone market had tended to rise overthe previous year. However, the electronics market was generallygrowing slowly.
Creating market stimulus
According to Deputy Minister of Industry and Trade Le Duong Quang, inthe last months of this year, the Ministry of Industry and Trade andother relevant departments will take drastic measures to improveproduction capacity and market demands.
Forelectronics, cars and motorcycles, it is necessary to strengthen thedistribution system to provide consumers with lower prices, in order toreduce inventory and boost production. In addition, the Ministry ofIndustry and Trade will also implement the agreement on priority use ofthe products produced by the enterprises under the ministry’smanagement.
To create momentum for the end-yearshopping season, electronics companies must adopt solutions to stimulatethe market especially through promotion programs. Most electronicsstores like TopCare, Tran Anh, Pico, HomeCenter, and Media Mart preparedto launch promotions to attract consumers, according to VEEA.
For example, Nguyen Kim retail chain announced its five-star servicefor smart phone buyers who buy phones from them will be able to changethe item within seven days and be granted the maintenance and upgradingvouchers.
Many other electrical retailers alsopromised to offer up to 50 percent discounts and have partnered withbanks and financial institutions to implement sales programs withincentives such as low interest payments and zero percent interestinstallments.
According to Le Ngoc Son, in additionto promotion policies, these supermarkets also have actively changedsales policies such as decisions to cut down intermediaries to reduceproduct prices, creating competitive advantages. The removal ofintermediaries can cut costs from 3-10 percent.
Hanoi-based Tran Anh Electronics’ Business Director Ngo Thanh Dat said“There is a further advantage for us as rental fees have fallen sharply.In Hanoi, for example, the monthly rent was only 10 USD per squaremeter. This is also a good opportunity for electronics companies.”.-VNA
Increasing phone and computer purchasing power
According to retailers, the sale of electronic goods in the thirdquarter was better than in the second quarter and it is expected toincrease in the fourth quarter of this year.
Thedomestic retail market warmed up in September and October, with recordedincreases in sales of laptops, tablets, and smart phones, compared withthe previous months. Dang Thanh Phong from Thegioididong.com said "mobile phone sales in the third quarter rose approximately 15 percent,laptops by about 80 percent, and tablets by 70 percent, fairly highpercentages compared with the same period last year.”
According to the representative of FPT Shop, smart phones priced from VND4-6 millions sold well due to their good value.
According to Chairman of the Vietnam Electronics Enterprises’Association (VEEA) Le Ngoc Son, the phone market had tended to rise overthe previous year. However, the electronics market was generallygrowing slowly.
Creating market stimulus
According to Deputy Minister of Industry and Trade Le Duong Quang, inthe last months of this year, the Ministry of Industry and Trade andother relevant departments will take drastic measures to improveproduction capacity and market demands.
Forelectronics, cars and motorcycles, it is necessary to strengthen thedistribution system to provide consumers with lower prices, in order toreduce inventory and boost production. In addition, the Ministry ofIndustry and Trade will also implement the agreement on priority use ofthe products produced by the enterprises under the ministry’smanagement.
To create momentum for the end-yearshopping season, electronics companies must adopt solutions to stimulatethe market especially through promotion programs. Most electronicsstores like TopCare, Tran Anh, Pico, HomeCenter, and Media Mart preparedto launch promotions to attract consumers, according to VEEA.
For example, Nguyen Kim retail chain announced its five-star servicefor smart phone buyers who buy phones from them will be able to changethe item within seven days and be granted the maintenance and upgradingvouchers.
Many other electrical retailers alsopromised to offer up to 50 percent discounts and have partnered withbanks and financial institutions to implement sales programs withincentives such as low interest payments and zero percent interestinstallments.
According to Le Ngoc Son, in additionto promotion policies, these supermarkets also have actively changedsales policies such as decisions to cut down intermediaries to reduceproduct prices, creating competitive advantages. The removal ofintermediaries can cut costs from 3-10 percent.
Hanoi-based Tran Anh Electronics’ Business Director Ngo Thanh Dat said“There is a further advantage for us as rental fees have fallen sharply.In Hanoi, for example, the monthly rent was only 10 USD per squaremeter. This is also a good opportunity for electronics companies.”.-VNA
