Shoppers select goods at a local supermarket. (Photo: VNA)
The figure was the highest since January 2019.
The recovery was due to the city’s socio-economic recovery and development program, preferential loan policies, improved investment environment, and the speeding up of digital transformation this year.
Most sectors recorded growth but the strong rebound in May retail sales highlighted the recovery in production and commerce in the city, Bui Ta Hoang Vu, director of the department, said.
Demand remains weak compared to the pre-Covid-19 period, with most spending being on essential goods, putting pressure on businesses to cut costs to reduce or maintain prices, he said at a press meeting held on June 9.
“The city will continue to help businesses access capital to stabilize production.”
Retail sales in the first five months of the year were worth VND275.96 trillion ($11.92 billion), up 8.1 percent year-on-year.
Sales of food and foodstuffs increased by 14.2 percent over the year, and those of cultural and educational products by 14.9 percent, and wood products and construction materials by 8.5 percent.
Promotion program
The city Department of Industry and Trade will organize the 2022 Shopping Season in summer as usual, starting on June 15, to bolster demand and foster economic recovery.
It would feature discounts of more than 50 percent.
Along with large distribution systems and e-commerce businesses, nearly 200 traditional markets will participate this year.
The second promotional month will be held from mid-November to mid-December during the year-end shopping season.
The recovery was due to the city’s socio-economic recovery and development program, preferential loan policies, improved investment environment, and the speeding up of digital transformation this year.
Most sectors recorded growth but the strong rebound in May retail sales highlighted the recovery in production and commerce in the city, Bui Ta Hoang Vu, director of the department, said.
Demand remains weak compared to the pre-Covid-19 period, with most spending being on essential goods, putting pressure on businesses to cut costs to reduce or maintain prices, he said at a press meeting held on June 9.
“The city will continue to help businesses access capital to stabilize production.”
Retail sales in the first five months of the year were worth VND275.96 trillion ($11.92 billion), up 8.1 percent year-on-year.
Sales of food and foodstuffs increased by 14.2 percent over the year, and those of cultural and educational products by 14.9 percent, and wood products and construction materials by 8.5 percent.
Promotion program
The city Department of Industry and Trade will organize the 2022 Shopping Season in summer as usual, starting on June 15, to bolster demand and foster economic recovery.
It would feature discounts of more than 50 percent.
Along with large distribution systems and e-commerce businesses, nearly 200 traditional markets will participate this year.
The second promotional month will be held from mid-November to mid-December during the year-end shopping season.
