Purchasing power for the traditional Lunar New Year will increase 10% from the same time last year. (Photo: VNA) Businesses have been stockpiling essential goods to ensure supply during theTet season, with the volume of inventory rising 10-25% year-on-year.
A latest report from the ministry showed that total retail sales of goods andservices in December 2023 expanded 2.6% from the previous month, and 9.3% ascompared to the same time in 2022.
Demand for food, accommodation, catering services and travel was on upwardtrend in the end of the year 2023.
Deputy Minister of Industry and Trade Phan Thi Thang said that localitiesnationwide have issued plans to roll out market stabilisation programmes duringthe year end and Tet holiday.
Accordingly, they assigned tasks to businesses to proactively prepare goods and arrange fixed and mobile sales pointsto bring Tet products to all people at stable prices.
In the context of economic difficulties, many enterprises are planning to runpromotional programmes and discounts on many essential consumer products,especially in the month leading up to Tet, she said.
The Departments of Industry and Trade in big cities like Hanoi andHCM City have also worked with competent sides to implement market stabilisationand promotion programmes, and coordinate with other provinces and cities to ensure stable supply of quality goods to servethe cities' great needs.
A representative from Lotte Mart said purchasing power for Tet holidaymay surge around 20%, adding the supermarket will focus on Tet essential goodssuch as confectionary, gift sets and beverage.
Wincommerce, the retail arm of Masan Group, which operates more than3,600 Winmart supermarkets and convenient stores nationwide, said it isplanning to increase the supply of MeatDeli products, and run a discount of 20%for its 7 million members.
Meanwhile, Vissan Joint Stock Company, whichprocesses and sells fresh and frozen meat and processed foods, said it willcarry out 10-20% discount programmes on weekends to stabilise the market, giventhat economic challenges may affect the purchasing power.
Total retail sales of consumer goods andservices in 2023 were estimated at more than 6.23 quadrillion VND (over 254billion USD), up 9.6% year-on-year. Retail sales of goods alone were 4.85 quadrillionVND, increasing 8.6% from the previous year (6.9% if excluding the price factor).
Localities with higher retail sales of goodsas compared to 2022 included Quang Ninh (12.2%), Binh Duong (11.4%), Hai Phong(10.4%) and Dong Nai (9.1%)./.
VNA
