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Boosting Year-End Goods Consumption

(News Portal – Dong Nai) - At the end of the year, the demand for goods and products increases significantly, providing an opportunity for businesses, particularly those in the food and consumer goods sectors, to ramp up production and stimulate consumption through various strategies. 

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Shopping at Cong Thanh Electronics Center

Actively participating in trade promotion programs and shopping fairs, along with stimulating consumer spending through customer support policies, discounts, promotions, and lucky draw programs, are some of the methods being implemented by businesses.

Preparing for Tet

Truong Giang Phat Co., Ltd. (located in Bien Hoa City), specializing in processing and trading fresh pork, supplies an average of 5 tons of pork daily to the market. However, in the month leading up to the Lunar New Year, the company plans to triple its supply due to a surge in contracts during the Tet season.

"At the end of the year and during Tet, market demand for food will increase, but the company will strive to maintain stable prices for customers," shared Mr. Vu Van Tu, the company's Director.

Similarly, Domilk Joint Stock Company (specializing in confectionery in Long Thanh District) is focusing on year-end production. Besides increasing production volume, the company is launching various dynamic activities during the Tet season to strengthen market connections and stimulate demand. In addition to offering attractive promotional programs for distributors and retailers, the company will conduct free product sampling campaigns at supermarkets to introduce its new product lines to consumers.

For retail businesses, a representative from Cong Thanh Electronics Center (in Bien Hoa City) shared that in December, the center is offering attractive programs for customers, such as electricity bill subsidies, product sales hunts, and a special collaboration with Panasonic to run a lucky draw program with prizes worth up to 40 million VND.

According to businesses, domestic consumption is one of the critical solutions to boost economic growth and increase sales revenue. Therefore, the year-end shopping season is seen as a significant opportunity for businesses to clear inventory. However, ensuring that Vietnamese businesses can sell their products while consumers have the financial means to shop requires, in addition to stimulation programs, effective support policies.

Actively Supporting Businesses in Trade Promotion

The Ministry of Industry and Trade has directed the implementation of measures to ensure supply-demand balance and stabilize the market during the end of 2024 and the Lunar New Year 2025. Additionally, in 2025, the goal is to achieve a 9% growth in total retail sales of goods and consumer service revenue. The Ministry continues to coordinate with other ministries, sectors, and localities to closely monitor market conditions and implement measures to ensure supply-demand balance, especially during peak Tet periods, while stimulating consumption and promoting domestic trade.

In Dong Nai, the Department of Industry and Trade will work with localities and businesses on balancing the supply and demand of essential goods for the 2025 Lunar New Year. The department will monitor inventory levels at production and business facilities, estimate purchasing power, and forecast price trends for essential items before and during Tet. New distribution points will be calculated and opened during this period to meet increased customer demand and serve as contingency plans in case of price volatility or supply shortages.​

Additionally, industry associations are launching their own programs. The wood industry in Dong Nai will host the 2024 Year-End Furniture Fair (Tavico Home VieFurn), scheduled to take place from December 19, 2024, to January 19, 2025. This is the wood industry's largest annual shopping festival, aimed at meeting consumer demand for home shopping, decoration, and interior design. The event will bring together hundreds of major players in the wood product value chain, from raw material suppliers and furniture manufacturers to top-tier interior and exterior design and decoration units. 

Author: Bao Nguyen

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