Houston Community News >> Golden Foods Supermarket
Actually, the grand opening was last Friday, May 27th, but a lot of people were not aware of the opening. "I had to ask around and finally someone said yeah, they opened last Friday," says Pham Nguyen. "I guess they wanted a subdued grand opening."
Whatever the reason, Golden Foods Supermarket is sure to make a mark in the highly competitive grocery store battle going on in Chinatown. Within a two block radius, there are a total of four supermarkets: Dynasty Supermarket, Diho Supermarket, Welcome Food Center, and now Golden Foods Supermarket. And to make things more interesting, Dun Huang Supermarket is slated to open later this year.
So what does this all mean? Shoppers will have the opportunity to get great deals on groceries as stores will have a price war to keep and attract more customers. The older supermarkets like Dynasty and Diho supermarkets will have a tough time competing with the newer supermarkets and the most popular supermarket in Houston Chinatown, Welcome Food Center.
All in all, one or two supermarkets in Chinatown will probably close its doors in the near future. "On an economics standpoint, supply (supermarkets) is way ahead of the demand (supermarkets) curve. Most likely, the older supermarkets will be hurt and eventually close down," says Yalin Cheng, an economics graduate student.
These are crucial times for these new supermarkets as well. Not far outside of Chinatown, you have Hong Kong Supermarket, Viet Hoa Supermarket, and HEB. Golden Foods will have to compete for those customers as well.
"Marketing is key. The management needs to ask themselves why should customers come to my store? What differentiates my store from the other stores? Those with creative marketing techniques and focus will survive and do very well," says Pham Nguyen.