The main shopping season of the year is about to begin and electronics companies are focusing on sales as part of the efforts to improve disappointing turnover since the beginning of the year, said Vietnam Economic News.

Increasing phone and computer purchasing power

According to retailers, the sale of electronic goods in the third quarter was better than in the second quarter and it is expected to increase in the fourth quarter of this year.

The domestic retail market warmed up in September and October, with recorded increases in sales of laptops, tablets, and smart phones, compared with the previous months. Dang Thanh Phong from said " mobile phone sales in the third quarter rose approximately 15 percent, laptops by about 80 percent, and tablets by 70 percent, fairly high percentages 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 over the previous year. However, the electronics market was generally growing slowly.

Creating market stimulus

According to Deputy Minister of Industry and Trade Le Duong Quang, in the last months of this year, the Ministry of Industry and Trade and other relevant departments will take drastic measures to improve production capacity and market demands.

For electronics, cars and motorcycles, it is necessary to strengthen the distribution system to provide consumers with lower prices, in order to reduce inventory and boost production. In addition, the Ministry of Industry and Trade will also implement the agreement on priority use of the products produced by the enterprises under the ministry’s management.

To create momentum for the end-year shopping season, electronics companies must adopt solutions to stimulate the market especially through promotion programs. Most electronics stores like TopCare, Tran Anh, Pico, HomeCenter, and Media Mart prepared to launch promotions to attract consumers, according to VEEA.

For example, Nguyen Kim retail chain announced its five-star service for smart phone buyers who buy phones from them will be able to change the item within seven days and be granted the maintenance and upgrading vouchers.

Many other electrical retailers also promised to offer up to 50 percent discounts and have partnered with banks and financial institutions to implement sales programs with incentives such as low interest payments and zero percent interest installments.

According to Le Ngoc Son, in addition to promotion policies, these supermarkets also have actively changed sales policies such as decisions to cut down intermediaries to reduce product prices, creating competitive advantages. The removal of intermediaries 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 square meter. This is also a good opportunity for electronics companies.”.-VNA