Small traders at traditional markets: Catching up with modern consumption trends

In recent years, small traders at traditional markets in the province have actively adapted and changed their business thinking, aiming to provide a variety of convenient services and focusing on improving product quality. Thereby, they gradually meeting the needs of consumers, increasing competitiveness in the market

Small traders at Gieng Vuong market, Lang Son city instruct customers to scan QR Code for payment

The traditional market is a place to trade goods and it plays an important role in the socio-economic development of each locality. However, at present, the strong development of the modern retail system (shopping malls, supermarkets, convenience stores …) and e-commerce activities have directly affected business activities of small traders at the traditional markets. Many consumers have tended to shop at modern retail channels or buy online instead of going to the market. Consequently, small traders at traditional markets have gradually changed and diversified their ways of service and product designs to catch up with modern consumption trends.

Ms. Le Kim Dung, owner of a stall selling household goods at Gieng Vuong market, Hoang Van Thu ward, Lang Son city said: “In order to keep and attract customers, along with focusing on product quality, I have changed my ways of selling, provided more services such as door-to-door delivery, non-cash payment… Besides, I also offer various types of goods, with many segments from affordable to high-end to meet the needs of customers. Thanks to that, now, my business activities are maintained stably, on average, I sell over 30 products per day.”

Mr. Nguyen Dinh Toan, Head of Gieng Vuong Market Management Board said: “Currently, Gieng Vuong market has about 700 small businesses. During increasing competition in the market, small businesses improve service quality and diversify the products for sales. In addition, in order to support small businesses to adapt to the modern payment trend, the Market Management Board has coordinated with a number of banks in the area including Lang Son branch of Joint Stock Commercial Bank for Industry and Trade of Vietnam, Joint Stock Commercial Bank for Foreign Trade of Vietnam … to open bank accounts and providing free QR codes for small businesses. Currently, over 80% of small businesses operating at the market have bank accounts and are equipped with QR codes for online payment.

Not only in the city, in rural areas – where the traditional market still acts as the main shopping and exchange channel for people, small traders have also quickly caught up and made certain changes in business activities. Typically, at Pac Khuong market, Thien Thuat commune, Binh Gia district. Mr. Hoang Van Hiep, Vice Chairman of Thien Thuat Commune People’s Committee, Head of Pac Khuong Market Management Board said: “The market opens once in five days on the 5th, 10th, 15th, 20th, 25th, 30th day (lunar calendar) of every month. On average, each time attracts nearly 200 small traders to do business. According to our survey, currently, more than 50% of small businesses have bank accounts, meeting the demand of online payment. Besides, some also provide services such as door-to-door delivery; preliminary processing of fresh food… As a result, trade activities at the market develop stably, meeting and better serving the needs of consumers.”

Currently, the province has over 80 traditional markets with about 6,000 small traders. According to a survey and assessment of the industry and trade sector, with factors including the initiative of small businesses in catching up with modern business trends, diversifying services and improving product quality and designs; many traditional markets receive investment in new construction and upgrading infrastructure; the shopping at the market is becoming more and more convenient in terms of travel and payment. These all help traditional markets in the past time to remain busy.

Ms. Hoang Thi Ngoc Luan, Tam Thanh ward, Lang Son city said: “Previously, when shopping at the market, the main type of payment was cash, which was sometimes quite inconvenient. However, nowadays, traders in markets, from those selling vegetables to clothes, shoes, home appliances… all have bank accounts or QR codes for a more convenient payment. Besides, they also provide shopping services as you wish, which makes me very satisfied.”

Mr. Tran Huu Giang, Head of Trade Management Division, Department of Industry and Trade said: “Currently, most of the small traders at traditional markets have changed their business methods to catch up with modern trends. As a result, this contributes to helping traditional markets in the province maintain effective operation. This is a very important factor which facilitates investment and development projects of market infrastructure proposed by the Division to the Department of Industry and Trade. At the same time, we continue to coordinate with functional agencies to promote business order management at markets, regularly inspect and control the market, ensuring the interests of consumers.”

It can be seen that, the change in service, product quality, the dynamism and sensitivity to catch up with the consumption trends of small businesses have contributed to creating new vitality for the traditional markets. Thereby, they help improve competitiveness, avoid the risk of being out-dated and gradually assert the position of traditional markets in retail.

Business efficiency from traditional markets contributes to developing busy trade and service activities in the province, meeting the needs of the people. Thereby, the total retail sales of consumer goods and services in the first seven months of 2023 is nearly 18,347 billion VND, reaching 68.2% of the plan, up 25.5% over the same period in 2022.