Enterprises hope to boost sales during the discount month
HCM City Department of Industry and Trade said about 750 enterprises have registered for the discount month starting September 1. Although the number of registered enterprises has only increased by 7%, the amount of money spent is forecasted to be much higher than 2011.
Hoping to boost their sales during one of the biggest promotion months of the city, business owners have no hesitation in spending tens of billions of VND on their advertising.
Nguyen Minh Thu, Vice Director of Thien Nam Hoa Trading and Services Company said it would spend VND22 billion (USD1.1 million), an increase of VND7 billion compared to last year. The company will also co-operate with 20 electronic groups and banks to offer discounts of 10-49% on products, with an additional 10-15% discount for customers using credit cards.
Despite higher expenses, the company are anticipating their sales to increase by 170%, down on the 180% recorded last year.
Tran Thi Tuyet Hoa, Deputy General Director of the Co-operative Union Trade Ho Chi Minh City (Saigon Co-op) said the union will double their spending in this discount month to VND100 billion.
VND80 billion will be discounted from the goods and VND20 billion will be used on vouchers. The number of suppliers has also stepped up from 450 to 600.
"Businesses have experienced a slump since early this year so we’ve only recorded 10% growth. With the discount programmes, we’re hoping for 30-40% growth we had last year." she said.
The month-long discount is an annual city event, held by the local Department of Industry and Trade and the Department of Culture, Sport and Tourism to stimulate consumer spending. Aside from the sales, lucky draws and gifts, the organisers will also set up mobile sales outlets in rural areas this year.
