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Tag: Sales

  • TV sales boom a week before football World Cup

    TV sales boom a week before football World Cup

    Television sales have soared in the last two days as the football World Cup 2022 began unlike previous events when demand would skyrocket a month before kickoff.

    Hoang Thinh, 32, who was leaving an electronics store on Nguyen Trai Street, Hanoi, on November 22, said he had just bought a 65-inch TV to watch the World Cup.

    “I first considered buying a new one because of doing a lot of things at the end of the year and having limited financial capacity,” he said.

    Early figures from some supermarkets and electronics stores show a boom in TV sales in the last few days.

    Le Quang Vu, general director of electronics supermarket chain MediaMart, said TV sales have increased by nearly 60% from last week, especially on the opening day of the World Cup.

    “With the 2018 World Cup, we saw sales surge a month before the opening ceremony, especially a week before the event began. However, this year is different.”

    Nguyen Lac Huy of CellphoneS said TV sales last weekend were nearly 70% higher than at the beginning of November.

    Besides, consumers’ demands have also changed, he said.

    The most popular this year are 55-65-inch TVs while 40-50 was best-selling four years ago, he said.

    The 65-inch segment with prices of VND13-15 million is the bestseller at most places. “TV sales for this World Cup are not equal to 2018, but the revenues are slightly better,” Vu said.

    The owner of an electronics store in District 1, Ho Chi Minh City, said the reason why many people bought TVs late had to do with promotion programs. “Only last week some brands ran a program for the World Cup. They offered a 20% discount and many gifts.”

    Many customers also opted for large TVs of up to 70 inches, which were considered oversized in the past.

    Brands such as Samsung, LG, Coex, and Xiaomi reported strong growth in sales.

    Projector sales have also soared. MediaMart reported growth of about 20% with Epson, Sony and Panasonic being the top sellers.

    Cellphones reported that sales of projectors, mainly Samsung and Xiaomi, have tripled over normal days.

    Prices in the most popular segment are VND8-15 million ($320-$600).

  • September auto sales up 8.5%

    September auto sales up 8.5%

    Auto sales rose by 8.5% in September to 33,463 units as the market slowly recovered amid tightening global spending. September marked a third straight month of increase in sales, according to the Vietnam Automobile Manufacturers Association (VAMA), which excludes the TC Group (which makes Hyundai cars) and VinFast.

    It represented a 247% rise year-on-year, admittedly from a low base as Covid-19 raged at this time last year.

    But it was far below this year’s peak in May when over 43,800 units were sold.

    In the first nine months sales rose 157% year-on-year to 296,403 units. Truong Hai Auto Corporation (Thaco) led with 101,614 units as sales rose by 54%.

    It was followed by Toyota (64,130 units) and Mitsubishi (30,296). Honda and Ford rounded off the top five. TC Group reported sales of 56,320 units, but VinFast has not released numbers.

  • Vietnam national brand value gains 11%

    Vietnam national brand value gains 11%

    Vietnam saw its national brand value increase by 11% this year to $431 billion thanks to its foreign direct investment policies. Its increase of $184 billion year-on-year was the third highest of any country, U.K. consultancy Brand Finance said in a recent release.

    The country went up one place to 32nd, just behind Thailand and the Philippines.

    “The country has gained momentum as an attractive destination for foreign investment thanks to successful fiscal and monetary policies and investments in human capital, but also amid trade disruptions from China’s lockdowns and continued tensions between Beijing and Washington,” the release said.

    Among the 50 most valuable corporate brands in Vietnam, telecommunications giant Viettel led at $8.8 billion, up 44% from 2021. It was followed by another state-owned telecom firm, VNPT, at $2.9 billion. Other places in the top five were claimed by dairy giant Vinamilk, property developer Vinhomes and brewer Sabeco.

    The top sectors in terms of brand value in Vietnam are telecom, banking and food.

    Globally, the U.S. claimed top spot in the national brand list at $26.5 trillion, followed by China, Germany, Japan, and the U.K.

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  • Auto sales rise 3rd month in a row

    Auto sales rise 3rd month in a row

    Auto sales in Vietnam went up for the third month in a row with 30,846 units sold in August, up 247% from the low base in the same month last year. Sales were highest since May when over 43,800 units were sold, according to data from Vietnam Automobile Manufacturers Association (VAMA).

    But it rose only 2% month-on-month, against 20% in July.

    The most popular car sold in August was the MPV Mitsubishi Xpander at 2,842 units.

    For the first eight months, 262,940 cars were sold in Vietnam, up 49.9% year-on-year.

    Truong Hai Auto Corporation (Thaco) led in sales in the period at 93,347 units, up 54% year-on-year.

    The three following brands, Toyota, Mitsubishi and Honda, all posted double-digit growth in sales.

    Ford ranked fifth with a sales decline of 6.7%.

  • Auto sales rise 20% in July

    Auto sales rise 20% in July

    Auto sales resumed in July with 30,254 units sold, up 20% from June, showing signs of recovery.

    The increase came after June sales plunged to a three-month low as the government’s decree to cut registration fee by 50% ended in May.

    The multi-utility vehicle Mitsubishi Xpander was the best selling model in July at 2,711 units, followed by Hyundai Accent, 1,423, and Toyota Veloz, 1,395.

    In the first seven months, 232,094 units were sold, up 39% year-on-year.

    Truong Hai Auto Corporation (THACO) led with 83,201 units sold, up 46% year-on-year.

    It was followed by Toyota with 48,650 units and Mitsubishi, with 22,361 units.

    Honda and Ford made up the rest of the top five.

    Last year, auto sales dropped 3% from 2020 to 383,444 units.

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  • How To Ensure A Balance Between Inventory And Sales?

    How To Ensure A Balance Between Inventory And Sales?

    With the recession taking place, many businesses that deal with physical products are considering overstocking the items to cut higher costs in the future. However, blindly overstocking the products can expose the businesses to the changes and further mercy of the consumer behaviour. Therefore, inventory management is a crucial part of businesses right now. There is a need to maintain a perfect balance between inventory and sales.

    With inventory management, the business can increase and improve customer service, cash flow cycle, resource capacity utilisation and supply chain efficiency. Furthermore, it reduces working capital requirements and inventory loss. Listed below are few tips for proper inventory management.

    Anticipating Customer Demand Is Essential 

    Consumer demand is dynamic; it keeps changing according to the economic condition. Even though it might seem a good idea to overstock the items and ship them through Ninja Van and other prominent shipping services like Shopee Xpress, it is essential first to ensure that there will be consumer demand. Overstocking inventory can put the business at risk as the inventory value has a chance to drop, and the business will be forced to push out the stock at heavy discounts. 

    Sales forecast plays a vital role in inventory management. It is essential to conduct thorough market research and collect all the necessary data to check whether the sales will be high or low. It is only through this information that it is possible to create the perfect inventory balance. 

    Identify The Risk Inventory And Get Rid Of It 

    Even though inventory acts like a shock absorber, it is critical to identify the risk inventory and eliminate it for its proper functioning. Identifying the risk inventory enables the business to reduce the cost of inventory management. Dead and obsolete inventory should be removed to ensure that the businesses have more cash on hand. 

    Alignment Between Sales And Stock

    When you keep the sales and stock levels in alignment, it is possible to ensure that you do not undertake or overstock the inventory. Keep real-time stock level data and adjust it whenever a transaction happens. There are plenty of tools out there that provide good recommendations about the items that need restocking. Further, keep the past trend in check to predict what you can consider in the future by considering the necessary variables. 

    Analyse Supplier Performance 

    A reliable supplier makes it easy to take care of the stock whenever it is required. On the other hand, an unreliable supplier can create plenty of problems. Keep the supplier’s performance in check and ensure that they are reliable. Further, the businesses should switch if the supplier is unreliable. Not only a reliable supplier is vital, but it is also essential to ensure that it provides the stock at competitive pricing. 

    Keep 80/20 Inventory Rule In Mind 

    The items that fetch the most money for a business should always stay in stock. In business, 80% of the company’s profits come from 20% of the stock. A business should identify this 20% of the stock and prioritise them in the inventory. Further, a complete understanding of the sales lifecycle of these items is important. Developing this understanding is possible when these products are closely monitored. 

    Track Sales And Understand The Pattern 

    During tough times, like the current recession, tracking sales daily is essential. Further, not only tracking the sales is important, but it is also crucial to understand the underlying pattern of the sales too. Analysing the sales data will shed light on the bestselling products and, further, identify the seasonal trend too. It will give the business the understanding that is required to restock the inventory at the right amount. 

    Inventory management might look tough, but it is not always tough with the right analysis and understanding. Keeping a tab on the inventory-to-sales ratio is vital to ensure that the inventory management is doing okay. Most of the time, the amount of inventory that needs to be kept is guesswork. However, it is possible to make intelligent guesswork with the right tool. 

    During the recession, taking inventory management seriously is extremely important. The items should neither be overstock nor understock. With proper planning, analysis and work, it is possible to engage in efficient inventory management that can ensure business profit even during tough times. 

     

  • LVMH sales soar despite China slowdown

    LVMH sales soar despite China slowdown

    LVMH sales jumped in the second quarter as the owner of Louis Vuitton and Dom Perignon continued to thrive in spite of concerns about slowing economic activity.

    The luxury conglomerate was helped by strong sales of its fashion and leather goods. Solid results in Europe, the US and Japan also helped offset a poor performance in China, which suffered due to lockdowns in the second quarter.

    The results underscore the French company’s resilience. LVMH’s diverse offerings — from handbags to spirits to luxury hotel stays — and global footprint are enabling it to withstand a worsening economic outlook. It also shows that well-heeled customers aren’t feeling a global surge in inflation that has caused lower-income shoppers to rein in spending at retailers such as Walmart Inc.

    LVMH’s biggest brand, Louis Vuitton, has been able to maintain profitability “at an exceptional level,” during the first half, the company said. Its executives have been actively restricting entry-priced products such as its classic monogram-coated canvas bags. Instead, the brand is promoting higher-priced leather handbags.

    “The top end of the portfolio has done better than the entry price, but it’s on purpose because we intend to rebalance the two,” LVMH Chief Financial Officer Jean-Jacques Guiony said about Vuitton’s strategy during the analyst call.

    Geographically, LVMH was helped by a 48 percent revenue recovery in Europe, followed by solid rebounds in Japan and the US. Asia, excluding Japan, barely grew during the quarter.

    LVMH’s outlook on the US economy isn’t “particularly gloomy and pessimistic,” Guiony said, citing recent quarterly performance. “We’re trying to manage the business for the growth it can generate.”

    Should there be a downturn, Guiony said LVMH would react swiftly by cutting costs and store openings. Past experience, notably during the 2008 global financial crisis, has shown LVMH has a “strong rebound capacity,” he added.

    In China, store traffic is still “way below” last year’s levels, Guiony said, adding that LVMH is waiting to see how demand evolves there.

    The luxury conglomerate didn’t experience pushback from customers after raising prices across the board this year, mostly in the first quarter. Guiony doesn’t expect LVMH’s fashion and leather brands to be very active when it comes to further price increases in the second half of the year. Thanks to the recent appreciation of the dollar against the euro, LVMH noticed more American tourists spending in Europe toward the end of last month, Guiony said.

    LVMH’s wine and spirits division was a notable outperformer during the period. The division — which suffered some supply constraints in the past — bounced back with organic revenue jumping 30 percent. It was helped by demand for Champagne in Europe, the US and Japan, as well as price increases for Hennessy Cognac.

    First-half profit from recurring operations rose to 10.24 billion euros ($10.35 billion). Analysts expected 9.51 billion euros. Organic revenue for its biggest fashion and leather goods unit in the second quarter grew 19 percent, better than the 17 percent gain analysts expected.

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  • Auto sales extends growth

    Auto sales extends growth

    Vietnam’s auto sales reached 42,359 units in April, with most major brands posting double-digit to triple-digit growth, according to the Vietnam Automobile Manufacturers Association (VAMA).

    This figure marked a 40 percent increase from the same period last year and brought four-month sales to 123,931 units, up 33 percent, said VAMA, which does not incorporate data of VinFast and TC Motor (assembler of Hyundai cars).

    Most top-selling brands posted a double-digit increase in sales compared to March last year.

    Truong Hai auto remained the top seller with 14,569 units, up 41.5 percent year on year.

    It was followed by Toyota with a 55.3 percent growth to 8,694 units.

    Honda and Suzuki saw a tripling in their sales, with the former rising by 216 percent to 6,100 units, and the latter by 173 percent to 1,111.

    Ford’s sales bucked the trend with a 25 percent drop to 1,933 units.

    With data from all brands included, the sedan Honda City was the top-selling model in Vietnam last month at 3,013 units. It was followed by the sedan Toyota Vios and the SUV Toyota Corolla Cross.

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  • iPhone doubles Vietnam market share

    iPhone doubles Vietnam market share

    iPhone’s market share in Vietnam increased from 4 percent in 2020 to 9 percent last year, making it the fifth-largest smartphone seller.

    The growth of 119 percent was the highest for any brand, Counterpoint Research said in a report.

    Apple was behind Samsung (34 percent), OPPO (19 percent), Xiaomi (13 percent), and vivo (11 percent).

    Strong growth in Apple products was seen in the last quarter of the year, with sales doubling year-on-year, the report said.

    This was when the company launched iPhone 13.

    Last year, taking advantage of the rising demand, several stores were set up to exclusively sell Apple products like FPT’s F.Studio, TopZone and Lazada Apple Flagship Stores.

    Counterpoint analyst Ivan Lam said: “Apple has always had a place in Vietnamese consumers’ hearts. Last year it expanded its distribution campaign in Vietnam.”

    The overall smartphone market grew by 7 percent last year, the report said.

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  • Auto sales down 3 pct in 2021

    Auto sales in Vietnam last year dropped 3 percent from 2020 to 383,444 units as the fourth Covid-19 wave forced dealers to shut down.

    The sales figure is a combination of data from the Vietnam Automobile Manufacturers Association (VAMA), TC Motor, and VinFast.

    VAMA, which includes Truong Hai Auto Corporation (Thaco), Toyota, and Honda, saw 277,203 units sold, down 2 percent from the previous year.

    TC Motor, which distributes Hyundai cars, saw sales declining 13.3 percent to 70,518 units.

    VinFast posted a growth of 21.2 percent to 35,723 units.

    In the third quarter last year, most auto units in the south were shut down as the Delta variant spread.

    But a 50 percent reduction in the registration fee, which came into effect in December and will last until the end of May this year, pushed up sales.

    VAMA members sold 43,526 units in December alone, the highest last year. December was the fourth month in a row that auto sales rose.

    Most media representatives of auto brands in Vietnam expect a recovery in sales this year as the Covid-19 pandemic seems to be under control.

  • China October smartphone shipment grows 30.6% from a year ago

    China October smartphone shipment grows 30.6% from a year ago

    According to the China Academy of Information and Communications (CAICT), China’s shipment of smartphones grew 30.6% year-on-year to 32.7 million handsets in October. This is a significant increase from a year ago, in October 2020, when shipments reached 25 million.

    An increase in shipment, compared to the decline experienced in the first half of the year, is largely driven by the release of the latest Apple iPhone 13 in China in September.

    When iPhone preorders were first released in September, demand was so high that Chinese retail websites reportedly went down. During the initial phase, as many as 5 million preorders were placed, signaling Apple’s continued popularity in the country.

  • Holiday train tickets in low demand

    Holiday train tickets in low demand

    Train ticket demand for the upcoming Lunar New Year Holiday is plunging due to fear of Covid-19 contagion as thousands of new cases nationwide are confirmed each day.

    Saigon Railway Station in HCMC opened its ticket sales for Tet 2022, the biggest annual holiday which falls in early February, but its nine counters were seen with few inquirers.

    Viet Truong, 37, showed up at 7 a.m., anticipating a large number of customers as what happened in previous years.

    “I got the tickets in only 20 minutes, while in previous years I had to wait the whole morning.”

    Tet tickets are being sold for five routes: four North-South routes and one HCMC-Da Nang route, while in previous years there were 20 routes.

    After two hours of opening sales, over 1,500 tickets were sold, which is the lowest in recent years.

    Hundreds of seats were still available as of lunchtime, even though tickets are being sold at a 10-15 percent discount in the first 10 days.

    Vietnam recorded over 8,200 new Covid-19 cases on average in each of the last seven days, with over 1,200 in HCMC alone.

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  • China Vehicle Sales Fall 9.4% In October 2021

    China Vehicle Sales Fall 9.4% In October 2021

    China’s auto sales fell in October for a sixth consecutive month, slumping 9.4% from a year earlier, industry data showed on Wednesday, as a prolonged global shortage of semiconductors disrupts production. Overall sales in the world’s biggest car market were 2.33 million vehicles in October, data from the China Association of Automobile Manufacturers (CAAM) showed. This time of year, known as “Golden September, Silver October”, is usually a high point in sales for the industry, with consumers making purchases after staying away from showrooms during the stifling summer months.

    One bright spot in the data was the strong sales of new energy vehicles (NEV), which grew 135% in October to 383,000 units, thanks to the government’s promotion of greener vehicles to cut pollution. These include battery-powered electric vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell vehicles.

    Tesla Inc sold 54,391 China-made vehicles in October, slightly less than 56,006 the previous month when it hit the highest monthly sales in China since it started production in Shanghai about two years ago, according to data of export, the China Passenger Car Association (CPCA) released on Monday.

    CAAM official Chen Shihua said chip supply is easing in the fourth quarter which is helping the country’s auto production to grow gradually.

    Chinese EV makers Nio Inc sold 3,667 cars last month and Xpeng Inc delivered 10,138 vehicles. Volkswagen AG said it sold over 12,000 ID. series EVs in China in October.

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  • iPhone 13 sees record sales in Vietnam

    iPhone 13 sees record sales in Vietnam

    Tens of thousands of iPhone 13 phones have been sold in Vietnam within days of its launch, with numbers exceeding those of Apple’s previous offerings.

    FPT Shop sold nearly 5,000 phones for nearly VND200 billion ($8.79 million) on the first day of sales on Oct. 22, breaking previous iPhone records, Nguyen The Kha, director of the chain’s mobile telecommunications division, said.

    Last year it sold 4,500 iPhone 12s on the first day.

    CellphoneS sold nearly 3,000 iPhone 13s compared to around 1,000 last year.

    Minh Tuan Mobile, which began selling Apple products for the first time this year, sold 1,000 iPhone in two days.

    Industry insiders said the large number of incentives that Apple is offering users this year is causing more buyers to go to authorized stores instead of buying them from sellers who pick up the devices in other countries and sell them in Vietnam.

    “Apple almost did not seem to care about the Vietnam market before,” a seller in HCMC’s District 1 said. “But now it offers a lot of support and commission to distributors and incentives to buyers, which makes the unauthorized market less appealing.”

    Another factor is that the iPhone 13 arrived in Vietnam one month earlier than the iPhone 12 last year, which came on Nov. 26.

    ShopDunk, a distributor of Apple products, said it opened five new Mono Stores (exclusively selling Apple products) on the first day of iPhone 13 sales.

    It also saw the number of pre-orders triple to 15,000.

    A spokesperson for Minh Tuan Mobile said only 50 percent of orders could be met so far, and others have to wait.

    iPhone 13 mini, the smallest and cheapest in the iPhone 13 lineup, is being sold in Vietnam at around VND18.4 million.

    The remaining models cost VND21.5-VND31.9 million.

  • September auto sales plunge

    September auto sales plunge

    Auto sales in Vietnam plunged 50 percent year-on-year to 13,537 units in September as Covid-19-triggered social distancing forced dealers to close.

    This is the second monthly lowest figure this year behind August with 8,884 units sold, according to Vietnam Automobile Manufacturers Association (VAMA).

    In the first nine months, sales rose 5 percent year-on-year, compared to 40 percent in the first half, showing a decline in sales in the third quarter when strict social distancing measures were imposed in Ho Chi Minh City and Hanoi.

    Truong Hai Auto Corporation (Thaco) led in sales in the first nine months with 65,764 units sold, up 10 percent year-on-year.

    The remaining four companies in the top five saw sales decline.

    Toyota came in second with 38,055 units sold, down 7 percent.

    It was followed by Mitsubishi, Ford and Honda.

    The hatchback VinFast Fadil was the best-selling car in September, followed by the sedan Hyundai Accent and SUV Kia Seltos.

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