HCM City to organise fair to stimulate consumer demand hinh anh 1The HCM City Department of Industry and Trade will organise the Consumption Stimulus Fair from July 2 to 5 this year to revive demand that has slumped due to the COVID-19 pandemic. (Source: VNA)

Ho Chi Minh City’s Department of Industry and Trade will for the first time in several years allow businesses to offer promotions of up to 100 percent in June and July to boost demand that has taken a hit from the COVID-19 pandemic.

For the last few years, businesses have not been allowed to offer one for one and other similar promotions except during national holidays like the Lunar New Year, Independence Day and Reunification Day.

It will also allow free participation for businesses at the 2020 Consumption Stimulus Fair from July 2 to 5 in ThuDuc District.

There will be supermarkets, malls and electronics retailers like Thien Hoa and Nguyen Kim participating in the programme, according to the department.

It expects the event to boost economic recovery and normalise commercial activities in the city.

The fair, financed by firms and the Government’s trade promotion funds, will have 500 booths showcasing consumer products, agricultural goods, foods, and export items.

There will be promotional and discount programmes to stimulate consumption and help firms liquidate their stocks.

Le Thi Thanh Tam, deputy director of Sai Gon Food Company, said her company would offer promotions of up to 50 percent and free trials of goods.

Le Viet Thanh, director of K&K Fashion, said while major annual promotional programmes such as Black Friday and for Reunification Day (April 30) always attract a lot of customers, many shops mark up prices before them or sell old, counterfeit and poor-quality goods products that disappoint users.

The department therefore needs to strictly control the quality of products to be sold at the fair and take severe action against businesses that violate buyers’ trust, he said.

The promotions need to be promoted on different channels, especially social networks and digital media, to reach more young people, he said.

The city should get banks and financial companies to offer low-interest loans at the fair for high-value of goods such as air conditioners to stimulate demand, he added./.