Viet Nam’s total retail sales of goods and services in January was estimated at VND544.8 trillion (US$23.22 billion), up 5.2 per cent from the previous month and 20 per cent compared with the same period last year, according to the General Statistics Office (GSO).
The office explained that the hike was attributed to the growing consumption demand as Tet (Lunar New Year), the biggest and longest festival in the Southeast Asian nation, fell in the month.
Of the total, the retail sales of goods were VND435.4 trillion, a year-on-year rise of 18.1 per cent, with the biggest increase seen in garments (27 per cent).
The revenue from lodging and catering services reached VND56 trillion, representing a year-on-year rise of 37.3 per cent. Notably, tourism raked in VND2.2 trillion, a surge of up to 113.4 per cent from the corresponding time last year, with the highest increases recorded in localities such as Hai Phong (541.5 per cent), Da Nang (387.1 per cent), Tien Giang (380.2 per cent), Lao Cai (196.3 per cent), Ha Noi (113.8 per cent) and HCM City (98.7 per cent).
The revenue from other services was valued at VND51.2 trillion, up 16.8 per cent year-on-year.
The GSO said the purchasing power during the holiday rose about 8-10 per cent against other months and was equivalent to the same period last year, with the strongest growth seen in food, foodstuffs and essential goods.
Hoang Anh Duong, Deputy General Director of the Market Surveillance Agency under the Ministry of Industry and Trade, said market management forces had intensified inspections and supervision, especially on e-commerce platforms and social networks, while coordinating with other competent agencies in controlling the quality of oil and gas products.
Consumer demand yet to recover after Tet in HCM City
Goods are pouring into wholesale markets and traditional retail markets in HCM City after Tet (Lunar New Year) but demand has been sluggish.
Supermarkets like Co.opmart, MM Mega Market and BigC and convenience stores like Satrafoods and Coopfood too have yet to return to normalcy.
According to Dinh Quang Khoi, head of MM Mega Market’s marketing department, said many city dwellers travelled during Tet and are yet to return home.
Besides, people tend to mainly buy vegetables and fruits now since they are fed up with greasy and protein-rich foods they consumed during Tet.
The prices of fresh seafood, including shrimps, crabs and squid are high compared to normal days.
Representatives of wholesale markets said prices were steady and the volume of goods coming into the markets was nearly as much as on normal days but demand was low.
To stimulate demand, retail systems have offered big promotions.
Co.opmart has a promotion on confectionery, milk and dairy products, vegetables, fruits, utensils, chemicals, fashion, and apparel items.
Supply of vegetarian food items has doubled and there are big promotions targeting customers seeking to eat healthy after Tet.
Emart supermarket is offering discounts of up to 50 per cent on more than 500 essential items.
MM Mega Market is offering discounts of 30-50 per cent on nearly 1,000 fresh food items, especially fruit and vegetable products. — VNS