Total retail sales of goods and service revenue in HCM City fell 11.2 percent year-on-year in the January-April period (Photo: VNA) HCM City (VNA) - HCM City’stotal retail sales of goods and service revenue fell 11.2 percent year-on-yearto 387.5 trillion VND (16.5 billion USD) in the first four months of this year,primarily due to travel restrictions and changes in consumption.
Retail sales and service revenue in April totalled68.4 trillion VND (2.9 billion USD), down 22.8 percent month-on-month and 34.2percent year-on-year, the city’s Department of Industry and Trade reported.
Despite the major holidays of the Hung Kings’death anniversary and the 45th anniversary of National Reunification takingplace during the month, revenue from trade and services declined as peoplerefrained from travel and only purchased essential goods amid the COVID-19pandemic.
It also noted one encouraging highlight lastmonth, when social distancing was being practiced - growth in onlinetransactions and cashless payments. Many shopping centres, supermarkets, andcaterers launched promotions to stimulate purchasing via telephone, websites,or mobile apps. They also offered support in delivery.
Changes in sales methods introduced since thebeginning of the year helped retailers earn revenue despite the lower purchasingpower resulting from COVID-19. The difficult period was also an opportunity forenterprises to restructure their corporate governance, distribution networks,and marketing strategies, according to the department.
Retailers in HCM City forecast that if thesituation surrounding COVID-19 improves shortly then the consumption marketwill recover and goods supply and prices will become more stable./.
VNA
