Retail spending rises sharply during holidays in HCM City

Monday, May 08, 2023 06:58

Customers shopping at a supermarket in HCM City. — VNA/VNS Photo

Retail spending in HCM City during the Reunification Day holidays (April 29 to May 3) increased by 100 to 200 per cent as many families spent the five-day holiday at commercial centres and supermarkets.

Reports from a number of commercial centres and supermarket chains in the city show that spending on essential consumer goods during this holiday increased two or three times compared to normal weekdays.

The increased spending focused on vegetables and fruits, sea food, frozen and semi-processed foods, convenience store food, beer and soft drinks.

A representative of LOTTE Mart said the number of customers at the shopping centre expanded by about 80 per cent and its revenue grew by 45 per cent compared to normal days thanks to various promotion programmes and entertainment activities.

Strong spending was also reported at supermarkets such as Big C and Co.opmart, as well as in traditional markets such as Ben Thanh, Tan Dinh, Nguyen Van Thoi and Ba Chieu.

The trend is expected to continue in the next few days when people return to the city after the holiday.

Retailers have offered abundant quality products and services at stable prices in an effort to promote their prestige and raise consumer confidence.

According to a report by the City Statistics Office, in April 2023, sales of a number of goods and services grew, including food and food retail, which increased by over 4 per cent; household appliances increased by 11.4 per cent; phones, computers and electronic components surged by 33.8 per cent.

Total retail sales of consumer goods and services in April 2023 increased by 12.2 per cent over the previous month and up 6.2 per cent compared to April 2022. Through the first four months of 2023, sales increased 5 per cent over the same period.

Many discounts and promotions taking place to stimulate consumer demand during this holiday also brought positive results to retailers and businesses with higher spending than usual.

However, compared with the time before the COVID-19 pandemic, the growth of commercial and service activities is still slow because the number of international visitors to the city has not increased much, therefore eating, drinking and entertainment activities have not yet recovered strongly, people's incomes have not increased as expected and there is still a saving mentality. — VNS

Comments (0)