Electronics retailers report disappointing holiday sales

Consumer demand for electronic goods in major cities in the run-up to Tet has failed to meet retailers expectations, despite enticing promotional campaigns.

Consumers have more electronic goods such as LCD televisions and mobile phones to choose from than ever before, yet sales have been disappointing, said Nguyen Thi Quyen, deputy marketing director of the Thien Hoa centre.

Nguyen Quoc Bao, chairman of Thanh Cong Mobile, said sales of mobile phones were down by 30 per cent on the same period last year.

Despite sluggish sales in most major urban centres, Ha Noi, has faired slightly better – a factor attributed to well-targeted promotional campaigns and enticing discounts.

Pico Plaza forked out VND20 billion (US$11 million) on marketing its products over the last few months and reduced prices of electronic goods by 8-12 per cent.

“Sales in my centre this Tet are double last year’s figure. However, we don’t expect sales this month to be anything like last October, which was also a promotional month,” said Nguyen Thanh Dat, who works at Pico Plaza.

Dat said consumers were no longer waiting for the Lunar New Year, when they receive their annual bonuses, to buy goods because prices had fallen markedly last year.

VietNamNet/Viet Nam News

Tags: Vietnam Electronics retail market, Vietnam retail market