Hanoi's corporate revenues to rise 20-30% in promotion month

Local companies expect their revenues will increase by 20-30% during the Hanoi Promotion Month in November, partly thanks to online shopping.

People shop at MM Mega Market Thang Long supermarket in Hanoi's Bac Tu Liem District on November 12. Photo: Hoai Nam/The Hanoi Times

The news was released at a meeting with the Hanoi Promotion Agency (HPA) on November 12.

Nguyen Van Ngoc, Director of MM Mega Market Thang Long, said that the company has seen its revenue rise about 20% since the Hanoi Promotion Month began on November 4. “Online sales have risen 25-30% in comparison with the pre-promotion month period,” he said, adding that the number of customers soars by 40-50% during the weekend compared with weekdays.

In the month-long promotion, MM Mega Market offers discounts of up to 49% on thousands of items, especially on One Commune - One Product (OCOP) program commodities, Ngoc said.

In November, MediaMart My Dinh offered discounts of up to 70% on half of the products on the shelf, said manager Nguyen Quy Tan."We have successfully negotiated with suppliers to buy a wide range of products and promotional gifts at reasonable prices to meet demand during the last few months of the year," Tan said.

"With more than 30,000 items on the shelves, including TVs, refrigerators, washing machines, and air conditioners, we are confident of having sufficient supply for the market until the end of the year," he said.

MediaMart is offering a 3-5% rebate to schools and teachers on purchasing computers, projectors, printers, and teaching materials on the occasion of Vietnamese Teachers' Day. MediaMart expects revenues to soar during "Golden Promotion Days" on November 12 and 13, as purchases may double or even triple, he said.

He said that the electronic retailer offers an additional rebate of 3-5% for online orders and supports customers with a zero percent installment policy.

At nine BRG Mart stores, customers may enjoy up to 50% discount on more than 300 products, including rice, cooking oil, and fruits.

“After the Covid-19 pandemic, the Hanoi Promotion Month helps us, the low-income people, to save some money. I am happy with different options displayed on the shelf, especially when market demand is on the rise during the last two months of the year,” Nguyen Ngoc Bich, a resident in Thanh Xuan District, said when shopping at BRG Mart.

"We hope Hanoi Promotion Month will become a suitable time for businesses to show their respect to Vietnamese customers, thus increasing purchasing power at the end of the year," said the Hanoi Promotion Agency's Deputy Director Bui Duy Quang, who added that the Hanoi Promotion Month 2022 is among the best solutions that help local enterprises navigate through the tough times, recover in the post-pandemic time, and assure a sufficient supply of goods and services in the city.

Hanoi Promotion Month is an annual event held in November each year. Since its debut in 2009, it has boosted local market consumption, connected producers with distributors, and contributed to the city's socio-economic development.