Retailers fully prepared for soaring Tet shopping demand

As there are only a few days left before the Lunar New Year (Tet) holidays, purchasing power is rising sharply and retailers are ready to serve.

Despite some previous forecasts of modest consumption growth ahead of the biggest traditional festival due to economic difficulties, purchasing power recorded at retail networks, traditional markets, as well as e-marketplaces has been surging, reported Dau Tu (Vietnam Investment Review).

Retailers fully prepared for soaring Tet shopping demand | Business | Vietnam+ (VietnamPlus)
Fruits for sale at a supermarket. (Photo: VNA)

Paul Le, Vice Chairman of Central Group – the owner of the supermarket chains GO!, BigC, and Tops Market, said his firm has geared up a wide range of goods with discounted prices and many promotional programmes. In particular, it has prepared more than 3,000 essential goods such as confectionery, candied fruit, tea, coffee, rice, sugar, and cooking oil for Tet. The number of essential products stockpiled to serve Tet consumption demand increased by over 20 per cent from a year earlier.

Many retailers said the number of consumers coming to their outlets has surged three times compared to normal days. Sales of confectionery, candied fruit, and fresh food have risen considerably.

Supermarkets have readied abundant supply and launched a wide range of promotions to cater to Tet shopping demand.

The Hanoi Department of Industry and Trade said the value of goods prepared for this year’s Tet in the city is estimated at 40.9 trillion VND (1.7 billion USD), up 10 per cent year on year. Thirty-two units have engaged in a program to supply essential goods with stable prices at over 14,530 outlets across the city.

The volume of goods for sale at retail outlets has climbed 15 - 20 per cent, and up to 90 per cent of the supplies are Vietnamese products, it noted.

Le Viet Nga, Deputy Director of the Domestic Market Department under the Ministry of Industry and Trade, said the ministry has coordinated with businesses to increase the goods of the “One Commune, One Product” program at distribution systems to raise the share of domestic items in consumers’ Tet shopping baskets.

To gear up for Tet, WinCommerce – the owner of the Walmart retail chain – worked with suppliers three months ago to ensure quality and stable prices.

Besides, Walmart supermarkets will serve consumers until 11 pm each day and until noon on the 30th day of the last month in the Year of the Cat (February 9). They will reopen on the fourth day of the Year of the Dragon (February 13), said Deputy General Director of WinCommerce Nguyen Tien Dung.

Meanwhile, the Hanoi Trade Joint Stock Corporation (Hapro) has stockpiled 1 trillion VND worth of goods for Tet, including essential products with stable prices like rice, pork, chicken, eggs, aquatic products, cooking oil, vegetables, processed food, and confectionery.

Its Deputy General Director Do Tue Tam said Hapro built the 2024 Tet business plan early last year. It also has a strict examination process to guarantee product quality.

Though economic difficulties remain, total retail sales of goods and consumer service revenue in January still went up 8.1 per cent year on year to stand at 524.1 trillion VND as consumers have been in the mood to shop for Tet, according to the General Statistics Office.

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(Source: VNA)