09:05 | 10/05/2019 Trade
(VEN) - Consumer electronics and appliance retailers in Hanoi are recording poor sales despite major promotion programs.
Although they are offering a 20-50 percent discount in product prices and free equipment maintenance and installation, Media Mart electronics supermarkets have attracted a small number of customers, sometimes even smaller than the number of their salespeople.
Pico stores offer consumers an array of products at discounted prices and gifts as part of a Summer Promotion program. Specifically, the price of a 12,000-BTU TCL air conditioner has been reduced from VND6.29 million to VND4.99 million, while that of a BOSS air cooler has decreased from VND 6.1 million to almost VND4 million. The stores are also offering a 49 percent reduction in the price of standing Vinawind electric fans and a reduction of VND3-4 million in the price of refrigerators.
Poor sales are also affecting some other big electronics, refrigeration supermarkets in Hanoi, such as HC and Nguyen Kim. Despite a series of big promotion programs, these two giants have attracted very few buyers. Electronics, refrigeration stores on the capital’s Hai Ba Trung, Cau Giay and Ho Tung Mau streets are experiencing the same problem. An electronics and refrigeration store owner on Cau Giay Street said the number of buyers has decreased considerably compared to previous years.
Another electronics and refrigeration shop owner on Ho Tung Mau Street said sales remain so poor this year although promotions are bigger than last year. Sales are expected to increase sometime before summer, he predicted. Experts attribute the poor sales to the lifetime of electronic and refrigeration products, which lasts 7-10 years. With demand for these products having peaked several years ago, no major increase is expected in the coming year or two.
This is a good time for consumers to buy electronics and refrigeration equipment with major promotions pushing down
prices and shops eager to sell, experts say.