Join hands to stabilize prices of essential goods

In Binh Duong province, retail businesses are actively implementing various solutions to control and stabilize prices despite pressure to increase input costs, thus enhancing purchasing power in the market as the lunar year draws to a close.

The Lunar New Year in 2025 is approaching, and supermarkets and shopping malls in Binh Duong are proactively preparing their plans to offer Tet goods. They anticipate an output increase of 10-20% compared to regular days. With various discount promotions, businesses and retailers expect a significant rise in purchasing power as Tet approaches. Some retail businesses said they have been preparing raw materials for Tet goods since mid-June 2024.

In Binh Duong, 17 businesses and supermarkets have registered with the Provincial Department of Industry and Trade to sell five groups of essential food items at stable prices. Mr. Duong Bao Khuong, the Deputy Director of Co.opmart Binh Duong supermarket, mentioned that, despite rising operating costs for the retail sector, the supermarket is willing to accept lower profits, even to the point of breaking even, in order to increase sales volume and help stabilize the market. In preparing for market stabilization and the reserve of essential goods for 2025, Co.opmart has organized a diverse range of products with a total value of approximately VND393 billion 613 million, including food, technological food, garments, and other essential goods. The supermarket is committed to fully meeting consumers' Tet shopping needs.

Ms. Nguyen Thi Bich Van, the Marketing Director of Central Retail Vietnam (which manages GO! Big C supermarkets), announced that the affiliated supermarkets have already developed their business plans for Tet early on. They have prepared numerous discounts and have not increased prices for over 10,000 fast-moving consumer goods six weeks before Tet 2025. Central Retail Vietnam is also planning to supply approximately 10% more fresh food for this upcoming Tet holiday compared to the same period last year. Notably, Central Retail will collaborate with suppliers nationwide to ensure a steady supply of goods throughout Tet, including fresh food items, both before and after the holiday.

Mr. Vo Van Lot, the Director of Operations at Aeon Vietnam Company for Binh Duong and Dong Nai, stated that the company has made thorough preparations for Tet. Aeon Mall Binh Duong Canary has increased its stock of Tet products by approximately 5% compared to last year's Tet, which is 20-30% higher than regular inventory levels. For certain items that see high demand during Tet, such as Chinese sausage, pork roll, and spring rolls, Aeon Binh Duong has boosted its stock by as much as 50% compared to typical days. Aeon Binh Duong has a plan to stabilize the essential goods market in 2025 with a total value of VND841 billion 151 million; of which the Lunar New Year accounts for VND212 billion 996 million. Currently, Aeon Binh Duong is also flexibly coordinating with suppliers and partners to minimize costs and reduce profits to bring reasonable prices to customers during the upcoming Tet holiday.

Join hands and contribute

According to the plan to stabilize the market of essential goods in 2025, the Lunar New Year and respond to natural disasters in the province, in addition to selling stabilized goods at supermarkets and shopping centers, Provincial Department of Industry and Trade also requires businesses participating in market stabilization to coordinate with localities to conduct mobile sales, organize promotional programs, fun markets, Vietnamese goods, spring flower festivals, etc. to increase opportunities for people to buy stabilized goods.

Ms. Dang Thi Thao Nguyen, a resident of Vinh Tan Ward in Tan Uyen City, shared that price stabilization stores set up in rural areas have enabled people to purchase essential goods at 10-15% lower than those in the market. Additionally, all these products are produced by domestic enterprises and have clear origins, allowing consumers to avoid counterfeit or low-quality items.

Ms. Nguyen Thanh Ha, Deputy Director of Provincial Department of Industry and Trade, said that the prices of essential goods for the upcoming Lunar New Year are guaranteed to be 5-10% lower than market prices at each time. Provincial Department of Industry and Trade will work with People's Committees of districts and cities to deploy solutions to stabilize the market, urge markets, supermarket systems, and convenience stores to focus on monitoring and grasping the market. In addition to retailers preparing supplies, strictly implementing regulations on price listing, goods with clear origin, ensuring food safety, the market management branch and Market Management Boards have increased inspection and price control, strictly handling violations of smuggled goods, counterfeit goods, and poor-quality goods, etc.

Ms. Nguyen Thanh Ha added that to contribute to the province overcoming difficulties in economic development, businesses and supermarkets have also proactively proposed solutions to overcome difficulties for themselves, specifically cutting unnecessary costs. Provincial Department of Industry and Trade encourages businesses to increase activities to stimulate purchasing power and attract customers during the upcoming Tet shopping season.

Reported by Thanh Hong - Translated by Ngoc Huynh