Many stores in Vinh City closed, returned premises, and offered shocking discounts.

Slow sales, high rental prices, and fierce competition from e-commerce have forced many businesses in Vinh City to close down and transfer their kiosks, and the wave of returning premises is spreading more and more.

Clip: PV

According to the reporter's records, currently on major roads in Vinh City such as Le Loi, Nguyen Van Cu, Le Nin Avenue, Le Hong Phong, Ha Huy Tap... many stores have closed and ceased business. This situation has lasted since the beginning of the year and is spreading. In the photo: A closed store on Ho Tung Mau Street, Vinh City. Photo: Reporter

Nguyen Van Cu Street is considered the busiest business street in Vinh City, however, it is also the street with the most closed stores today. In the photo: Business establishments at the intersection of Nguyen Van Cu and Ho Tung Mau streets were once considered "golden" locations, but have been closed for a long time. Photo: PV

It is known that the rental price of business premises on Nguyen Van Cu Street is also among the highest in Vinh City. The rental price ranges from 10 - 50 million VND/month, depending on location and area. This is a price that is very difficult for tenants to access in the current difficult business climate. Photo: PV

There are many reasons for the increasing number of premises being returned, mainly due to the difficult business situation, high rental prices, not to mention other operating costs, while the competition from e-commerce has made traditional sales methods increasingly difficult. Photo: PV

The largest spaces of 50 - ^100m2 are paid the most, the current trend of tenants is focusing on smaller shops to reduce costs. Photo: PV

In addition, according to the survey, part of the reason also comes from the fact that some stores are concerned about the issue of checking goods during this peak period, so they proactively temporarily stop selling for a while. Photo: PV

Not only on the streets, at shopping malls, purchasing power has also decreased significantly, many locations in supermarkets that were previously full of stalls are now empty. Photo: PV

Dang Thai Than Street is a street specializing in used clothing and motorbikes. While some kiosks have closed, the rest are still open with a sparse number of customers. Photo: PV

Even traditional markets are not spared from the bleak scene in the current difficult business times. In the photo: A corner of Vinh Railway Station market is deserted with shoppers. Photo: PV

To attract customers and reduce losses, stores are currently selling off their products, discounting prices, even 50-70% off. Photo: PV

Faced with market pressure and changes in consumer shopping behavior, store owners need to quickly adapt by applying technology and expanding online sales channels to avoid falling into the current prolonged business stagnation. Photo: PV

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Source: https://baonghean.vn/nhieu-cua-hang-o-tp-vinh-dong-cua-tra-mat-bang-giam-gia-soc-10300076.html