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Electronics retailers expect good sales

Update: December, 04/2013 - 09:01
People shop for mobile phones at a Nguyen Kim electronics store in central Da Nang Province. Electronics retail companies expected good sales from the end-of-the-year shopping season. — VNA/VNS Photo Tran Le Lam

HA NOI (VNS)— The main shopping season of 2013 is about to begin and electronics companies are focusing on sales, as they seek to overcome the year's disappointing turnover, reports Vietnam Economic News.

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

The domestic retail market warmed up in September and October, with increases in sales of laptops, tablets, and smart phones, compared with previous months.

Dang Thanh Phong from Thegioididong.com said, "Mobile phone sales in the third quarter rose approximately 15 per cent, laptops by about 80 per cent, and tablets by 70 per cent, which are fairly high percentages compared with the same period last year."

According to a representative of FPT Shop, smart phones priced from VND4-6 million sold well due to their perceived value.

Chairman of the Vietnam Electronics Enterprises' Association (VEEA) Le Ngoc Son said the phone market has risen since last year. However, the electronics market was generally growing slowly.

Creating stimulus

Meanwhile, Deputy Minister of Industry and Trade Le Duong Quang said that in the last months of this year, the Ministry of Industry and Trade and other 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 products produced by enterprises under the ministry's management.

To create momentum for the year-end shopping season, electronics companies must adopt solutions to stimulate the market, especially through promotional programmes.

Most electronics stores, such as TopCare, Tran Anh, Pico, HomeCenter, and Media Mart, have prepared promotions to attract consumers, according to VEEA.

For example, the Nguyen Kim retail chain announced its five-star service for smart phone buyers who purchase phones from them. This will allow customers to exchange their purchases within seven days and be granted maintenance and upgrading vouchers.

Many other electrical retailers also promised to offer up to 50 per cent discounts and have partnered with banks and financial institutions to create sales programmes with incentives, such as low interest payments and zero per cent interest installments.

According to Son, in addition to promotional policies, these supermarkets also have actively changed sales policies, such as decisions to cut down on intermediaries to reduce product prices, creating competitive advantages.

The removal of intermediaries can reduce costs from 3-10 per cent, he added.

Also, Ha Noi-based Tran Anh Electronics' Business Director Ngo Thanh Dat said, "There is a further advantage for us as rental fees have fallen sharply. In Ha Noi, for example, the monthly rent was only $10 per square metre. This is also a good opportunity for electronics companies." — VNS


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