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Electronics stores launch final sales   2008-12-14 - VNS

Clients buy electronics at Media Mart on Hai Ba Trung Street in Ha Noi. Many electronics stores in the capital and in HCM City started their end-of-year sales last Wednesday, offering huge discounts.

VietNamNet Bridge - Sales at electronics superstores in major cities have increased considerably thanks to end-of-the- year promotions.

Many electronics stores in HCM City, including Cho Lon, Thien Hoa, De Nhat Phan Khang and Ideas, started their end-of-the-year sales last Wednesday, offering huge discounts of between 5-50 per cent.

Lien An Thach, business director of Cho Lon Electronics Market, said that they’ve seen three times more buyers since they started their sales compared to previous weeks.

According to the deputy head of the business division at Thien Hoa Superstore, revenue has gone up 112 per cent since they posted their sales. Discounts have focused on LCD televisions, digital products and home appliances.

Thach noted that with new LCD television models coming out every year, they often lowered the price of older versions ahead of the new year.

Tran Khoa Van, deputy head of the market analysis firm GFK Viet Nam, said that the prices of electronics had fallen recently because consumption had reduced. Van said that these recent promotions had been partially aimed at boosting consumption, helping stores boost their sales to meet annual revenue targets.

Large electronics stores in Ha Noi, including Pico Plaza, Media Mart and Ha Noi Cho Lon, have also started their end-of-the-year promotions, with those sales partially paying off.

Since the beginning of the month, revenue at Media Mart on Hai Ba Trung Street has been three times higher than in previous months thanks to big promotions and heavy discounts of 30-50 per cent, according to Nguyen Thanh Duong, deputy general director of Media Mart.

Duy Hai, head of public relations at Ha Noi Cho Lon electronics superstore on Pham Van Dong Street, said that his store had also pulled out the red marker for this sale season.

However, the sales aren’t paying off like the superstore did last year. Revenue is expected to drop 20 per cent compared with their last sale season, according to Hai. The drop is attributed to the economic downturn, and the anticipation of the country’s retail market opening up next year under WTO agreements.

Customers are looking for the cheapest deals possible, like Anh Duc who lives on Cau Giay Street. He said that he wanted to buy an LCD television, but he had put it off because his friends said that prices would drop even further once import taxes are dropped next year on electronics.

Nguyen Anh Dung, a customer visiting Media Mart to check out the price of an LCD television, also said he was waiting out until the price drops even further.

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