HCM City businesses have sold a large number of inventories and have increased sales thanks to active participation in Sales Promotion Month (August 28-September 30).

Businesses and retailers have doubled or tripled revenue compared to last month, Tin Tuc (News) newspaper reported on September 26.

According to the HCM City Department of Industry and Trade's figures, sales have increased by 40-50 percent in the past month.

Fresh foodstuff, household appliances, electronics, and clothing have been the most popular.

Nguyen Thanh Nhan, director of Co.opmart supermarket chain, said the chain had seen good growth in the number of shoppers and sales turnover.

Fresh foodstuff saw the highest increase, 80 percent, compared to non-sale days.

Tran Tan Hoang Hau, marketing director of Thien Hoa electronics centre, said the Sales Promotion Month is an opportunity for businesses to stimulate demands and increase sales, as well as help them to clear inventories to prepare for new products for the Lunar New Year 2014.

After discounts of 49 percent, sales turnover increased 200 percent compared to the previous month. Customer traffic also went up, with more than 50,000 shoppers coming to the centre in the weekend.

Sales are expected to continue to be strong during Sales Promotion Month, Hau said.

According to experts, the Sales Promotion Month has helped both consumers and stores considerably.

Le Van Khoa, deputy director of the HCM City Department of Industry and Trade, said that positive signs from Sales Promotion Month had given retail businesses more motivation to work closely with manufacturers and suppliers to prepare sources of goods for the peak shopping time in the year-end.

Many promotions will be launched in the near future to stimulate market demand, he added.-VNA