Maintaining market momentum through price-stabilization measures

Against a backdrop of rising fuel prices and tightening consumer spending, many retailers say that without promotions, retaining customers is increasingly difficult, while the challenge of balancing stimulus and profitability becomes more acute. In Vietnam, the modern retail channel is being positioned as a key lever to stabilize prices and reduce cost pressures on consumers.

Consumer spending turns more defensive

As fuel prices fluctuate and input costs rise, spending pressure is weighing on Vietnamese households. According to the 2026 consumer behavior survey by the High-Quality Vietnamese Goods Association, about 40% of consumers have shifted to a “defensive consumption” mode, characterized by greater price sensitivity, preference for promotional items, and proactive cutbacks on nonessential expenses.

This shift is already showing up in business results. In Hanoi and Ho Chi Minh City shopping centers, the shopping mood is subdued. Mr. Vuong Ngoc Dung, Marketing Director of Saigon Cosmetics JSC (SCC), said that from the beginning of March 2026 to now, sales of products such as perfumes and shampoos have fallen by more than 40% compared with the previous month.

Similarly, Mr. Pham Van Viet, Chairman of the Board of Việt Thắng Jean Co., Ltd., said the company’s fashion revenue in March 2026 declined about 30% from February and is likely to continue to fall in the near future.

Retailers expand promotions to stabilize essential goods

Retailers say modern trade helps keep prices stable for essential consumer goods while allowing targeted promotions. AEON Vietnam, for example, launched the campaign “Price reductions with you - Peace of mind saving” throughout April 2026, alongside weekly promotions including “Low price every day” and “Happy Wednesday.” The product list focuses on essential items such as rice, detergent, toilet paper, and beverages. “Happy Wednesday” is held every Wednesday, offering promotions for fresh vegetables.

Within the Masan ecosystem, WinCommerce said it has more than 4,700 points of sale nationwide, which it uses to optimize operating costs, secure supply, and mitigate cost fluctuations in the distribution chain. The company also commits to stabilizing prices for essential goods while expanding promotions on items such as eggs, vegetables, and meat.

Saigon Co.op’s system launched a “Laundry Festival,” offering discounts of up to 50% for more than 200 products in laundry, washing, cleaning, and personal care groups. The program is expanded to over 1,000 fast-moving consumer goods and essential foods including rice, noodles, cooking oil, spices, milk, and practical household products, with discounts up to 50%. Fresh items in the “Go to market savings - fresh meat and eggs” program are rotated by region, with discounts exceeding 30%.

The GO! chain said it is implementing the program “Always unbeatable price - You see the lower price, we refund the difference” from March 26, 2026 to June 30, 2026 nationwide. Under the offer, customers who find a product of the same category, brand, and packaging sold at a lower price at supermarkets or convenience stores within a 3km radius will receive a refund of the price difference. The program covers more than 20,000 fast-moving consumer goods and cosmetics.

Local price-stabilization programs and supply linkage

In Hanoi, price-stabilization activities involve 19 production and business units participating in the program, providing price-stabilized goods through 10,700 points of sale. Hanoi’s program includes 131 supermarkets, 6,093 general stores, and 245 market stalls. The city is also promoting the linkage of more than 4,000 agricultural products, regional specialties, and 3,463 Hanoi OCOP products into supermarket networks and chain stores, aiming to support supply assurance, reduce price volatility, and boost consumption of local products.

“Price stabilization will continue to play a key role in controlling inflation, stimulating consumption, and stabilizing essential goods markets in Hanoi,” emphasized Mr. Nguyen The Hiep.

In Ho Chi Minh City, the Department of Industry and Trade announced a “Price Stabilization Program for 2026 and the Tet of 2027.” The program runs for 12 months, from April 1, 2026 to March 31, 2027, aiming to balance supply and demand, control inflation, and ensure social welfare.

Mr. Ngo Hong Y, Deputy Head of Trade Management, Ho Chi Minh City Department of Industry and Trade, said the program will continue under a socialized model, without using the budget to subsidize prices or provide interest subsidies to businesses. Instead, participating enterprises will use their own resources to supply goods.

A new feature this year is linking price stabilization with quality control through a “green score of responsibility.” Participating businesses are encouraged to build transparent supply chains and ensure product origin and quality, with the goal of strengthening consumer trust.

Impact and market direction

With consumers increasingly prioritizing quality and transparency, retailers and local authorities are leaning on promotions and structured price-stabilization measures to support essential goods markets. The electronics and home appliance market is also preparing for the summer season earlier, reflecting shifting consumer timing and purchasing patterns.