Business

Retail sales of goods, services up 8.1% in January

Total retail sales of goods and revenue from consumer services in January were estimated at 524.1 trillion VND (21.47 billion USD), up 8.1% year-on-year, as consumers have been on the mood to shop for the upcoming Tet (Lunar New Year) Festival, according to the General Statistics Office (GSO).
Retail sales of goods, services up 8.1% in January ảnh 1At a supermarket in Hanoi (Photo: VNA)
Hanoi (VNA) – Total retail sales of goods and revenue from consumerservices in January were estimated at 524.1 trillion VND (21.47 billion USD),up 8.1% year-on-year, as consumers have been on the mood to shop for theupcoming Tet (Lunar New Year) Festival, according to the General StatisticsOffice (GSO).

Without taking inflation into account, the retail sales rose 5.8%, the GSO reported.

Consumers splurged on cultural and educational items, household appliances,catering services and travel the most in the runup to Tet holiday.

Retail sales of goods totalled 407.5 trillion VND, increasing 7.3% from thesame time last year. Meanwhile, revenue from accommodation and catering services rose by 10.2% to 58.9 trillion VND.

Thanks to the sound tourism promotion policy that helps popularise Vietnam as asafe destination, the country welcomed more than 1.5 million foreign tourists in January, going up 10.3% from the previous month, and 73.6% year-on-year. Tourismearnings went up 18.5% year-on-year to 4.4 trillion VND.

Revenue from other services was estimated at 53.2 trillion VND, up 11.2%year-on-year.

Economists said the Tet shopping season is thegolden time for enterprises and retailers to promote domestic consumptionstimulus and increase sales right from the outset of the year.

They also advised enterprises to outline rational market and businessstrategies, making them fit the new consumption trend in the domestic andforeign markets./.
VNA
#retail sales of goods #Vietnamplus #Vietnam News Agency #General Statistics Office #year-on-year #tourism promotion policy Vietnam
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