Hanoi Midnight Sale - a push for night-time economy
For the first time, the city held the "Hanoi Midnight Sale" event with sales and discounts of up to 100%.
The Hanoi Midnight Sale event created a shopping fever in the capital, helping stimulate consumer demand at the end of the year and laying the foundation for the development of the night-time economy.
Local consumers are buying stuff at Big C supermarket. Photo: Tran Viet |
During the last two days from November 27-28, Big C Thang Long supermarket attracted a large number of customers thanks to the event. Since 17:00 on November 27, the number of visitors to Big C Thang Long increased 5-6 times compared to normal days while revenue rose by 141% against the same period in 2019, said the director of the supermarket, Ms. Nguyen Mai Phuong, Director of the supermarket.
Not only at Big C Thang Long, the Hanoi Midnight Sale event also took place simultaneously at 200 venues, including supermarkets, shopping malls, and large distribution networks such as AEON, Lottemart, Vinmart, MediaMart, Pico, Ivy Moda, NEM, Tokylife, Fomat, BRG Mart, M2, among others.
Offering 70% off and many items at one price, the Fomat fashion retailer at 251 Cau Giay saw that the number of customers late at night was three times higher than on normal days.
At electronics supermarkets, long queue of customers waiting for the time of steep discount on many items including televisions, refrigerators, and other electronic appliances.
According to a quick report from the Hanoi Department of Industry and Trade, revenue from the Hanoi Midnight Sale this year increased sharply. Specifically, AEON Mall Ha Dong's revenue increased by 314.7% while AEON Mall Long Bien’s saw an increase of 206.6%; Big C Thang Long revenue rose 141% compared to the Black Friday 2019 promotional event. Other retail stores saw their sales increase 150 - 200%.
Premise for nigh-time economy
According to retail experts, Hanoi Midnight Sale event drew a large number of customers. This is the premise for the city to develop the night economy.
Chairwoman of the Vietnam Retailers Association Vu Thi Hau said that this event will be the beginning of the night economy development, as well as change the shopping habits of consumers on the day and at night, towards combining shopping with catering, entertainment, and tourism services.
"However, to develop the night economy, retailers in Hanoi expect the authority to have methodical night economy development plan, thereby stimulating consumption demand and creating opportunities for tourism businesses to launch more unique products, and create conditions for other economic and service sectors to develop,” Ms. Hau said.
Deputy Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan said that this activity will support the development of the night-time economy model. This will be the most effective solution to help retail growth in the city. Therefore, the Department of Industry and Trade will advise the City People's Committee to include similar programs in the 2021 stimulus plan.
