Enterprises focus on exploiting the domestic market

In Thanh Hoa province today, many enterprises have been exploiting the domestic market well to expand market share and maintain stable production and business activities.

Tien Son Group Corporation focuses on exploiting more domestic consumption market.

In the context of the world economy having many fluctuations, purchasing power in partner markets has decreased sharply, the domestic market is the "support" for many businesses at this time. Focusing on exploiting the domestic market well is one of the solutions to help businesses have more room to maintain long-term growth.

As a unit specializing in the production of construction stone and fine art stone for export, Quyet Chien Stone Co., Ltd. located in An Hung Ward (Thanh Hoa City) has encountered many difficulties when the export orders have been in short supply for the past 2 years, causing a decrease in revenue. Therefore, the company has shifted to the domestic market in the hope of helping businesses overcome difficulties in the context of a volatile world economy.

Company Director Nguyen Van Quyet said: “At this time, the domestic market will be a safe support, creating a proactive position for businesses. Therefore, since the end of 2022, in addition to existing export orders, we have produced additional goods to serve domestic consumers. If in previous years, the company's stone export proportion accounted for 85% of total revenue, now we have set a target that in 2024 the domestic proportion will increase to over 35%. At the same time, we will focus more on quality as well as price balance to meet market demand well.”

Similarly, for the garment industry, the slowdown in goods exports is both a difficulty and an opportunity for Tien Son Group Corporation to focus on exploiting the domestic market. Currently, the company has proactively researched and thoroughly learned market information to find out the trends and tastes of domestic consumers. From there, it restructures production and adjusts designs to better suit modern trends. At the same time, it focuses on improving product quality associated with optimal production organization to reduce commodity costs. According to the company's leadership, to develop well in the world market, first of all, enterprises need to develop sustainably and stably in the domestic market, thereby creating momentum to go further.

With a population of about 100 million people, the domestic market is considered to be relatively large and there is still a lot of room for exploitation. In particular, the trend of choosing goods produced by domestic enterprises is being supported by many consumers. This is a favorable condition for enterprises nationwide in general, and enterprises of Thanh Hoa province in particular, to promote exploitation of the domestic market.

However, besides the enterprises that have successfully conquered the domestic market, there are still some enterprises struggling to find a foothold in their "home field". The main barriers come from market differences or enterprises having difficulty connecting to bring their products to retail distribution facilities and systems; at the same time, enterprises have to compete with cheap products of the same type, even fake goods, as well as compete with the wave of imported goods that somewhat overwhelm domestic goods...

Therefore, in order for enterprises to exploit the domestic market well, according to the Head of the Trade Management Department (Department of Industry and Trade) Le Van Khoa, enterprises need to invest more in product quality because the requirements of domestic consumers are increasingly strict. Besides, enterprises also need to "listen" to the needs of the market, because consumer tastes are always changing rapidly, requiring enterprises to be dynamic and creative to stay ahead of the trend. In the long term, enterprises that know how to take advantage of and exploit the domestic market well will create a solid foundation, helping enterprises develop sustainably.

Article and photos: Chi Pham

Source: https://baothanhhoa.vn/doanh-nghiep-tap-trung-khai-thac-thi-truong-noi-dia-219418.htm