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Wednesday, July 24, 2024

Retailers grappling with price competition

By Hung Le

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As consumers grapple with economic hardships, retailers find themselves embroiled in an increasingly fierce price war. However, pricing pressures are just one aspect of a larger issue which vendors at traditional wet markets are dealing with. Price competition hits traditional wet market vendors Vendors in traditional wet markets are grappling with the difficult task of attracting customers and increasing sales, particularly in the face of fierce competition from supermarket chains and convenience stores. Nam Thu, a vendor at Tran Huu Trang Market in Phu Nhuan District, HCMC, said that her business has seen sales declining over the past year. In the past, she used to sell over a thousand eggs daily, but now she can only manage to sell 300 to 400 eggs per day. Her neighboring Bach Hoa Xanh store has maintained egg prices at VND25,000 per tray for more than six months, which is around VND5,000 lower than her stall’s prices. Consequently, she can only make a profit of VND2,000 per tray. Her stall struggles to attract loyal customers, as well as those unaware of the store’s lower-priced eggs. Hai Cuc, a vendor selling fruits and vegetables at the same market, said that she can only sell vegetables […]
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