Consumer demand up 20-30% in run-up to Tết
A surge in consumer demand, particularly after the Kitchen God's Day, has been recorded through Hanoi, with a notable uptick ranging from 20-30%, reported a working delegation of the Ministry of Industry and Trade and the municipal People’s Committee following their inspection on February 5.
A surge in consumer demand, particularly after the Kitchen God's Day, has been recorded through Hanoi, with a notable uptick ranging from 20-30%, reported a working delegation of the Ministry of Industry and Trade and the municipal People’s Committee following their inspection on February 5.
Supermarkets and businesses, which anticipated an increasing demand in the run-up to the Lunar New Year (Tet) Festival, have strategically formulated plans and inked contracts to augment the supply of goods by an average of 7-25% compared to the same period last year. The focus was primarily on essential goods, particularly food and groceries. At retail points, the inventory has increased by 15-40% to satiate demand, with 90% of the products being of Vietnamese origin.
Businesses are also escalating their efforts in the digital arena, from fortifying online sale channels to the seamless integration of electronic payment methods. They are also providing home delivery services and proactively connecting with cities and provinces to promptly supply goods to Hanoi when there is high demand or unforeseen fluctuations.
At present, Tet goods at distribution systems are abundant and diverse, with prices remaining stable, ready to meet shopping needs of residents.
So far, a total of 32 firms have joined the market stabilisation programme for essential food items, including industry leaders such as Saigon Co.op, Satra, Bach Hoa Xanh, Central Retail, MM Mega Market, Lotte, Aeon and key suppliers like Vissan, CP Vietnam and Ba Huan. — VNS
