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Vietnam turns into the consumer of the world’s inventories? (31/5)

31/05/2012 - 12 Lượt xem

Vietnamese manufacturers have been worried stiff with the big inventories. The unsalability of products has been attributed to the weak domestic demand, since people have to fasten their belt in the context of high inflation.

However, the reason proves to be unconvincing, because domestic manufacturers cannot explain why foreign made products still have been flooding the market, while Vietnamese consumers still choose imports when they need non-essential goods.

The answer to the question--why import products still can be sold well lies in the attractive promotion campaigns offered by manufacturers and distributors.

Samsung Galaxy S3 9300 products would only be available on the Vietnamese market from June 1-5, 2012. However, the market has got boisterous already, since Media Mart, the distributor, and Samsung, the manufacturer--have promised attractive gifts for the clients who register to buy the products in advance.

The total value of the gifts would be 11.6 million dong, including a coupon for purchasing goods at Media Mart worth 1 million dong, a Data 3G Viettel worth 6.4 million dong, a 50GBn Dropbox worth 4.2 million dong. Meanwhile, the price of Samsung Galaxy S3 9300 to be sold at Media Mart is 15.89 million dong only.

A similar sale promotion program is also expected to be launched into the market by Pico and Samsung later this month, which would be applied to Galaxy S3 9300 buyers.

Big discount rates have also been offered by distributors and manufacturers for other electronic products. Buyers could enjoy the price discount rates of 30-50 percent, plus the gifts in cash.

Those, who hold JCB cards of Vietinbank, would be able to enjoy sale price discounts twice. They can enjoy the price discounts offered by the distributors, and enjoy another 30 percent discount when making payment with the cards.

Recently, Vietinbank has joined forces with Media Mart to launch a sale promotion program for the “2012 Euro season.” Under the program, besides the 30 percent price reduction, another 10 percent price discount would be offered to the clients who make payment with VietinBank or HOT Friday cards. Especially, the five percent price discount would be applied to those, who make payment with VietinBank card on every Friday.

Meanwhile, there has been no big-scale sale promotion campaigns kicked off by domestic manufacturers. Besides the sale promotion programs carried out by Big C or Metro, in cooperation with some banks, consumers cannot see any big and attractive campaigns.

An analyst has commented that why foreign manufacturers have been very professional with their efforts to boost sales and stimulate the demand, domestic manufacturers do not know what to do, except complain.

The figures about the import volume can show that Vietnam has become the place which consumes the world’s inventory products. The General Statistics Office showed that the trade deficit in May was 700 million dollars, or 7.7 percent of the import turnover, while the trade deficit in the first five months of the year has reached 622 million dollars, or 1.5 percent of import turnover.

The trade deficit in the first five months of 2012 was lower than that in the previous years. However, this cannot be attributed to the imports decreases.

The import turnover in May was 9.8 billion dollars, an increase of 9.4 percent over April. The figure represents a 13 percent increase in comparison with the figure of May 2011.

Source: Doanh Nhan