Stimulating domestic consumption

Identifying domestic consumption as one of the growth drivers of the economy, in recent times, the Provincial People's Committee has directed sectors, localities, and enterprises to carry out a lot of solutions to stimulate consumption and promote the development of the province's retail market.

The province’s market management force inspects goods at BRG Mart Pho Noi Supermarket (Yen My) to protect the brands of manufacturers and consumers

According to the Department of Industry and Trade, since the Covid-19 pandemic, people have tended to tighten spending and pay attention to essential consumption products. Therefore, the Department has guided and requested enterprises supplying goods in the province to organize shopping stimulus programs, concentrated promotions, etc. to boost consumption of goods and increase revenue; the procedures for registering for promotional programs have been carried out online, helping businesses and business establishments save time and costs, thus attracting a large number of goods distribution businesses to participate in. According to Ms. Dang Thu Trang, manager of K-Mart Ecopark supermarket in Ecopark Urban Area (Van Giang), the registration for participation in concentrated promotional programs organized by state agencies is now performed on the software system, helping businesses have more time to find reputable and quality product suppliers with a lot of preferential promotional programs for customers.

In order to improve competitiveness in the market, businesses and business establishments in the province have also proactively organized many activities to stimulate product consumption throughout the year such as: Discounts, points accumulation, gifts, vouchers, flat-price sales, preferential policies exclusively for member customers or online shopping... to stimulate consumers to shop. For example, TMart supermarket in Hung Yen city has implemented many promotional and discount programs since the beginning of the year to stimulate consumption. Currently, the supermarket is conducting a promotional program to celebrate the International Women's Day, March 8, such as: Buy 1 get 1 free for some fresh milk products; fish balls and beef balls are applied with a promotional price of 59,000 VND; orders with a total bill of 200,000 VND or more will be able to buy 1 of 3 products: Russian sunflower oil, TH yogurt drink and combo of 2 packs of toilet paper at a preferential price...

Currently, people's consumption trends have changed positively when the demand for shopping and using Vietnamese branded products is increasing due to guaranteed quality, diverse designs and reasonable prices. Therefore, in order to boost consumption demand for domestically produced goods, the Department of Industry and Trade has mobilized and encouraged businesses and goods distribution units in the province to respond to the Campaign "Vietnamese people prioritize using Vietnamese goods" through organizing activities to display and promote products with Vietnamese brands and local strengths; bringing Vietnamese goods to rural areas; building points of sale and introduction of OCOP products in localities in the province... Thereby, helping businesses and production establishments develop business activities and expand consumption markets; creating conditions for consumers to buy good quality products at the most reasonable prices. Up to now, the whole province has built a total of 14 points of sale and introduction of OCOP products. Ms. Vu Thi My in Phu Tho commune (Kim Dong) said: Since the OCOP product introduction and sales point at 18/4 Community Company Limited has been operating, I do not need to go to Hung Yen city to buy longan, lotus seeds, and tapioca flour like before. During Tet, the store also sells many gift baskets of OCOP products from production facilities in the province at competitive prices and diverse designs, so I feel secure in choosing to buy them as gifts for relatives and friends.

In 2024, the Provincial People's Committee organized a lot of activities to boost and introduce local products and agricultural products such as: Hung Yen longan week in Hanoi, Hung Yen orange market, Hung Yen lychee market... attracting over 100,000 visitors and shoppers. The Department of Industry and Trade supported province’s enterprises to display products at the VietnamExpo Fair; implemented the National E-commerce Project... With focused solutions to stimulate domestic consumption, in the first two months of this year, the total retail sales of goods and service revenue of the province reached nearly 17.7 trillion VND, up 7.32% over the same period last year; of which, retail sales of goods attained over 6 trillion VND, up over 27%, other service revenue reached over 11 trillion VND, up 3.44%.

To continue to create momentum for growth in the consumption of goods in the domestic market, the province is currently boosting investment attraction to develop commercial infrastructure, build a modern retail system to serve the shopping needs of the people. To increase activities connecting supply and demand, trade promotion to support the consumption of goods; effectively promote the Campaign "Vietnamese people prioritize using Vietnamese goods", combined with preventing and combating smuggling, counterfeit goods, and fake goods to protect manufacturing enterprises and protect consumer rights; continue to promote the development of e-commerce, stimulate online shopping... According to Mr. Vu Quang Thang, Director of the Department of Industry and Trade: In order for the domestic market to play the role of a "support" for enterprises in the province in particular and in the country in general in all situations, enterprises, production and business establishments need to proactively diversify products with competitive prices; create links to get the most reasonable costs at each stage to help products reach domestic consumers quickly and effectively; closely follow market developments to make specific production plans, balance appropriate output for each product...