Over 120 cosmetics, footwear, bags, watches and other brands from Japan, the U.S. and Italy are among those selling their products in the steep discount program initiated by the city to boost consumption amid economic challenges.

People shop at the Flash Sale Holiday event hosted by Ho Chi Minh City on September 8, 2023.

Some 30,000 shoppers showed up on the opening day, Friday.

Prices range from VND200,000 (US$8.30) to VND100 million, and discounts, from 30% to 90%.

Oanh of Phu Nhuan District bought a handbag made by Italy's Furla for VND2.5 million, an 80% discount.

Hoang Quan of Tan Binh District bought a Casio watch for VND9 million, 25% lower than the market price.

Italian shoe brand GEOX offered some products at a discount of 80%, and more than 40 people made purchase within the first hour.

A Casio spokesperson said around 30% of shoppers made purchases and the Japanese brand expects to sell 50-80% of the products it brought to the two-day event.

Flash Sale Holiday is being organized for the first time this year, and the city plans to make it an annual event.

The city has been running various promotions in recent months to boost consumption.

In the year-to-date retail sales have been worth nearly VND453 trillion, up 9.6% from last year.

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Source: VnExpress