Beer and soft drink companies, which traditionally used to increase prices ahead of Tet (the Lunar New Year), are instead offering promotions this year as the sluggish post-COVID economy has hit demand.
With their incomes decreasing, people are not willing to spend much on beverages for Tet this time, experts said.
Bach Hoa Xanh stores in HCM City have cut the prices of a 12-can carton of Tiger Beer (500ml) from VND275,000 to VND255,000 (US$11.7-10.85) and Viet beer (330 ml) from VND135,000 to VND123,000(US$5.74-5.23).
They are offering a ‘buy 4 get 1 free’ promotion for Strongbow beer.
Co.opmart supermarkets have cut the prices of 330ml Tiger beer cartons (24 cans) from VND374,500 to VND366,000 and Larue beer from VND262,600 to VND199,000.
Other supermarkets such as MM Mega Market and Emart are offering discounts of 3-8 per cent on many beers.
Coca-Cola cartons are seeing their prices reduced by VND10,000-24,000 at many supermarkets, which are also offering gifts to buyers.
On e-commerce websites like Shopee and Lazada too, there are discounts of 10 - 30 per cent, even 50 per cent, on beverages such as Mirinda, Coca-Cola, Vinh Hao, and Bidrico.
With supply being high and demand 20-25 per cent below normal, beer and soft drink prices seem set to fall further. — VNS