The fact that many people switch to shopping at modern retail channels is not only because of promotions, but also because of clear listed prices, traceable goods and a sense of security when spending. That is a sign of a market shifting from low prices to correct and reliable prices.
This change puts businesses in a different position. When input costs increase, it is inevitable for businesses to adjust prices. However, there are also many businesses that have chosen to "anchor prices" for a certain period of time, accepting slimmer profits, and optimizing operations to limit increases.
Now, businesses maintain prices not only to compete but also as a way to retain customers. From a business perspective, this may be a difficult decision. But from a market perspective, it is an investment in the long-term reputation of the business.
Because consumer confidence does not come from advertising words, but from the accumulated experience through each purchase. A stable price, clear information, or simply the feeling of not being "pushed up in price" when the market fluctuates... all contribute to creating long-term attachment.
On the State's side, in the past time, the Government has shown its role as a "saver" for the market by flexibly regulating and managing gasoline and oil prices in a short cycle, using the Price Stabilization Fund to limit strong fluctuations; and working with businesses to extend the price increase time and maintain market momentum...
In particular, the policy of being ready to use fiscal tools such as adjusting taxes on gasoline and oil in necessary cases, along with supply-demand connection programs, reducing intermediary costs, stimulating consumer demand... not only maintains the immediate price level but also contributes to stabilizing market sentiment.
To show consumers and believe that prices are reasonably controlled, they will be bolder in shopping. Otherwise, if prices continue to increase rapidly and spread to most essential goods, a tightening trend will appear and will entail chain reactions.
However, in the long term, the market still needs a more sustainable foundation from domestic production capacity, transparency in the supply chain and effective pricing tools to limit passivity when the market changes from outside.
