Retailers make efforts to control prices

March, 17/2022 - 08:25

In the face of rising domestic gasoline prices, many retail businesses have been making efforts to control the price of goods to ensure supply and stabilise the market.

Customers shop at Aeon Long Biên supermarket, Hà Nội. — VNA/VNS Photo Trần Việt

HÀ NỘI/HCM CITY — In the face of rising domestic gasoline prices, many retail businesses have been making efforts to control the price of goods to ensure supply and stabilise the market.

A representative of WinCommerce, which manages and operates the WinMart/WinMart+ supermarket chain, said that the consumption market was tending to enter a new price level when many suppliers and traders adjusted prices due to the impact of rising gasoline prices.

"We have also received offers to adjust prices from many suppliers. However, WinCommerce actively negotiates with partners to delay the price increase, especially for the group of necessities," the representative said.

At the same time, WinCommerce is also implementing many solutions to stabilise prices and stimulate consumer demand such as applying promotions and discounting hundreds of items to share difficulties with consumers.

A representative of LOTTE Mart also said that the continuous increase in petrol prices has put a lot of pressure on suppliers, especially fresh food suppliers. And it was difficult to predict how the price would change in the near term.

However, in order to support consumers during this time, LOTTE Mart continuously negotiates daily with partners to propose the best price for customers, ensuring adequate and abundant goods. In parallel, there are a series of promotions for essential products, and fresh food.

The LOTTE Mart representative added that the market had seen an increase in the prices of some items such as rice and cooking oil, but up to this point, the supermarket system was still trying to extend the time to raise the price, and the old price was still applied, at the same time, ensuring a stable supply of goods to serve consumers.

Trần Lâm Hồng, deputy general director of the Saigon Union of Trade Cooperatives (Saigon Co.op), said since before Tết (Lunar New Year) – at the end of January  some suppliers of consumer products and foodstuffs have been seeking an increase in prices, but Saigon Co.op’s supermarket chains negotiated with them to keep prices unchanged.

But with petrol prices increasing to their highest ever levels, leading to a sharp increase in production and transport costs, manufacturers and distributors would suffer heavy losses if they do not increase prices, he said.

The prices of fresh foods, vegetables and fruits at traditional markets in the city have tended to rise in recent days due to the increased transport costs.

The prices of essential items will remain stable until the end of March, the HCM City Department of Industry and Trade has assured.

Due to the impact of the prices of packaging, raw materials and petroleum all increasing simultaneously, production costs have risen, leading to an increase in goods prices, but city leaders have been working with retailers to keep prices stable, Nguyễn Nguyên Phương, Deputy Director of HCM City Department of Industry and Trade said. — VNS

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