Food companies in the southern largest economic hub of Ho Chi Minh City have enough stocks to meet demand during Tet in mid-February, Trieu Do Hong Phuoc, head of the HCM City People’s Council's Committee for Economy and Budget, has said.
Aid packages worth 15 billion VND (650,000 USD) will be sent out before the end of January, with 1,000 tonnes of rice being presented to 50,000 poor households in 54 cities and provinces nationwide prior to the upcoming Lunar New Year (Tet) holiday.
Production and retail businesses in central Da Nang city are now in a position to sell Tet goods to customers. The diverse and plentiful offerings, some of which include attractive promotional programmes, have also hit the shelves of supermarkets and shopping malls.
As many as 40,000 mom-and-pop stores nationwide have been digitalised thanks to the VinShop mobile app developed by Vietnam’s biggest conglomerate Vingroup.
Vietnam’s total revenue from retail trade and services reached over 5 quadrillion VND (219.5 billion USD) in 2020, representing a modest yearly rise of 2.6 percent, according to the General Statistics Office (GSO).
The COVID-19 pandemic has had a heavy impact on every aspect of life in 2020, and the global economy had been especially hard hit. The Vietnam News Agency has selected the ten most significant global economic issues during the year.
Confectionery companies are beefing up production and distribution to meet the demand for Tet (Lunar New Year), which falls on February 12 next year, though sales are expected to be somewhat lower this year because of the COVID-19 pandemic.
Retailers in HCM City are focusing on stimulating demand for the Lunar New Year (Tet) holiday in February and ensuring that supply is adequate and food safety standards are met.
Vietnam’s retail sales growth will bounce back to pre-COVID-19 levels next year, reaching 8.5-9 percent year-on-year, according to VNDirect Securities.
The purchasing power in the domestic market is expected to increase by between 15-20 percent from now until the 2021 Tet (Lunar New Year), with food products seeing the strongest rise, said Tran Duy Dong, Director of the Ministry of Industry and Trade (MoIT)’s Domestic Market Department.
The export of Vietnamese goods via the distribution networks of foreign retailers has proven to be an effective and sustainable channel, Deputy Minister of Industry and Trade Do Thang Hai told a conference in Hanoi on December 17.
2020 has been a difficult year due to COVID-19, with many shoppers deciding to tighten their belts. Many shops and retailers have therefore offered attractive promotional programmes as the end of the year approaches, to boost sales. Let’s take a look!
Businesses in Ho Chi Minh City are increasing production to ensure sufficient supply of goods for Tet early next year and steady prices during the year's biggest shopping season.
Businesses are increasing production to ensure sufficient supply of goods for the upcoming Lunar New Year Festival (Tet) early next year and steady prices during the year's biggest shopping season.
Sustainability has been a growing topic of interest to Vietnamese consumers in recent years though awareness levels remain well below the global average.
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