A 10 percent increase in consumer demand is projected within major urban centers, including Hanoi and Ho Chi Minh City, during the forthcoming Lunar New Year holiday period, relative to the corresponding period in the preceding year.
The Ministry of Industry and Trade has announced that it is collaborating with businesses to swiftly implement measures aimed at ensuring the availability of goods for the Lunar New Year of 2025. Various localities, such as Hanoi, Ho Chi Minh City, Dong Nai, and Ninh Thuan, have developed plans to stabilize the market.
These plans include assigning responsibilities to businesses for the preparation of goods and the establishment of both fixed and mobile sales points, in conjunction with initiatives to promote Vietnamese products in rural areas.
Businesses have indicated a rise in the volume of goods reserved for the upcoming Tet holiday, with increases ranging from 10 percent to 25 percent compared to last year, in anticipation of heightened consumer demand, which is expected to grow by over 10 percent relative to the same timeframe.
The Ministry of Industry and Trade, along with various businesses, predicts that this year's Tet will see a surge in demand primarily for essential items, including food, beverages, clothing, household goods, and products specifically for Tet celebrations.
In major urban centers such as Hanoi and Ho Chi Minh City, a significant increase in consumer spending is anticipated during the forthcoming Lunar New Year festivities, driven by rising incomes and a more dynamic commercial landscape. However, this anticipated growth may be tempered by a prevailing consumer sentiment characterized by a cautious approach to expenditure, particularly among households prioritizing savings following a period of economic uncertainty.
As a result, companies have initiated numerous extensive promotional campaigns, significantly reducing prices on essential consumer products. These initiatives aim to enhance purchasing power during the final months of the year and the period leading up to Tet, thereby supporting the growth of the domestic market.
A representative from WinCommerce noted that the concluding months of the year are traditionally viewed as a prime opportunity for the retail sector, particularly during the Lunar New Year when consumer demand surges. Recognizing this trend, WinMart/WinMart+/WiN has taken proactive measures to ensure a wide variety of quality goods at competitive prices.
Departments of Industry and Trade in various regions will enhance inter-regional collaboration, linking supply and demand to ensure that goods from surrounding areas are available, thereby preventing shortages or price surges during peak times.
To facilitate consumer access, e-commerce initiatives will be further promoted this year, with numerous platforms and applications engaging in Tet promotional activities. There is an anticipated rise in online shopping demand, particularly among younger consumers and workers who are away from home.
The Ministry of Industry and Trade has noted that, despite facing numerous challenges such as sluggish demand recovery and inflationary pressures, businesses are leveraging export growth and the benefits of free trade agreements to mitigate domestic challenges. Thorough preparations for the supply of essential goods will not only satisfy the rising demand but also help ensure a joyful Tet holiday for all families.
