Recently, many of Da Nang’s businesses have become actively involved in expanding their markets in order to stimulate the consumption of their products.

Many business facing big challenges in expanding their consumer markets

Director of the Khai Minh An JSC Tran Van Hoa highlighted the significance of expanding markets in attempting to boost the consumption of domestic goods.

He, however, encouraged enterprises to diversify their products, as well as develop their new and attractive ones to affirm their brand names and increase product adaptability.

Mr Tran Ngoc Viet, the Director of the city-based Things Changing Technology Co Ltd, pointed out some difficulties faced by local enterprises in expanding consumer markets by distributing products to supermarkets or book stores. In particular, their products are required to meet national standard TCVN ISO 9001:2008.

He also underscored the necessity for businesses to open manufacturing plants to ensure sufficient supply of products to agents and distributors. Therefore, businesses are in need of massive inflows of capital to cover the costs of premises, manpower, and machinery.

Ms Truong Thi Phuong Linh from the Dana PlyWood Manufacturing and Commerce Company remarked her company’s products have been exported to such foreign countries as Japan, India and South Korea over recent years. Currently, her company is focusing on expanding consumer markets nationwide.

“By participating in the recent International Vietbuild Da Nang Exhibition 2019, I recognised that many domestic consumers show their keen interest in industrial wood and plywood products”, she added.

Ms Linh, therefore, suggested that enterprises should participate in international trade fairs to connect with their clients from many countries around the world, as well as learn about consumers' tastes and competitors’ business strategies.

The Director of the Minh Hong Biology Company, Mrs Trinh Thi Hong, stressed the need for relevant agencies to effectively handle the trading of fake, counterfeit and poor-quality items to protect the right of customers.

“Also, the focus should be on facilitate business to access bank loans at preferential interest rate in a bid to promote their production and business activities, and boost the publicity of Vietnamese-made products to both domestic and foreign customers”, Mrs Hong noted.