Retail stores making efforts to stay firm in the market

In recent years, various suppermarkets have been established in the province, prompting retail stores to compete for market shares. To maintain their customers, the stores have proposed attractive programs in a bid to stay firm in th fierce competition.

In recent years, various suppermarkets have been established in the province, prompting retail stores to compete for market shares. To maintain their customers, the stores have proposed attractive programs in a bid to stay firm in th fierce competition.

The race for market shares

The old-time local sellers of electric appliances in the province, now, are facing competition of modern suppliers of bigger customer attraction. Aside from brand-name prestige and original goods, those modern suppliers offer great promotion to the customers.

Represetative of Trung Thao Store in Thu Dau Mot City said that the store is facing harder time as customers may require for promotion, discounts, supplying services, and preferential warranty.

Buyers are window shopping at Trung Thao Electric Appliance Store in Thu Dau Mot City. Photo by D. Tuan.

The appearance of giant retailers such as Big C, CoopMart, and Metro has driven stores to the edge of competition.

Hieu Thao Store, one of the major supplying store on DT743 Street in Thuan An Town, eyed reduction of customers for the appearance of such giants who could supply far more variety of goods and promotional programs.

However, such race for market shares does not happen in retail stores alone as the giants themselves have to compete. Majority of them offer grand promotion at their first appearance in the provincial market.

According to Mr. Ho Van Binh, Deputy Director of Department of Industry and Trade, the apperance of major supermarkets should prompt retail stores to change their business strategies. In the current stage of competition for market shares, consumers shall earn more benefits in terms of prices, customer services and choices. However, he warned consumers to be cautious for brands, warranty, and expiration of the products in promotional programs.

To change business ways

Many consumers prefer shopping in supermarket than in retail stores for the presence of promotional programs and spacious shopping spaces including recreation sites for kids.

To sustain in the market, the retail stores have sorted out various strategies to attract the consumers including promotional programs, purchase through phones, delivery services, better product quality, post-buying services, etc.

Binh added that the retail stores were forced to reform for their existence in the current competing market. They have to change their sales method and practice modern commercial approaches to sustain in the market.

Reported by Do Tuan – Translated by Vi Bao