Electronics retailers are being driven to slash prices to keep up with their competitors and this is eating into profit margins which is deterring foreign investors, Ngo Quoc Bao, Senior Director of Corporate Customers and Customer Experience at FPT Retail has told Tuoi Tre.
Of note, the article mentions that as profit margins decrease retailers have to reduce the quality of the services they provide. But that’s not entirely true–They need to be better at balancing prices with quality with customer service. It sounds a lot like they are weighting their approach in favour of lower prices which may be due to a deep-seeded bargaining culture in Vietnam.