Purchasing power in HCMC gradually increases before Lunar New Year

It was recorded that at some traditional markets and supermarkets in Ho Chi Minh City, the purchasing power has begun to gradually inch up on the evening of January 16 or the 14th of the twelfth month of the year of the Ox in the lunar calendar. Consumers have gone shopping more bustlingly than a few weeks ago.

At some traditional markets, people were rushing to buy fruits, fresh flowers, and confectionery for the full-moon worship. Hanh, a small trader at Tan Chanh Hiep Market in District 12, said that the purchasing power of fresh fruits and flowers at the market increased by about 25 percent compared to normal days, but the selling prices only rose slightly from VND3,000 to VND5,000 per kg. For instance, mangoes were priced at VND65,000 per kg, and tangerines were sold at VND50,000 per kg.

According to Ung Thi Kim Lien, a small trader at Binh Tay Market in District 6, the purchasing power at the market has improved clearly, contrary to the muted atmosphere a few weeks ago. However, the volume of Tet goods and confectionery arrived at the market is not high because, earlier, many enterprises worried about poor purchasing power.

At present, the wholesale prices at the market increased by about VND5,000-VND10,000 per kg of sugar-coated fruits of all kinds. For example, sugar-coated winter melon was sold at VND70,000 per kg, sugar-coated water chestnut at VND110,000 per kg, sugar-coated tamarind at VND150,000 per kg, sugar-coated soursop VND140,000 per kg, raisins at VND190,000 per kg, and watermelon seeds at VND160,000 per kg. Some small traders acknowledged that consumers spent cautiously and thriftily this year.

“Due to economic difficulties, no one dares to shop freely. However, we sell goods a lot through social networks, accounting for about 50 percent of the market share, mainly customers in faraway provinces,” a small trader in Binh Tay Market shared.

According to the management board of Binh Dien and Hoc Mon wholesale markets, the quantity of goods arriving at the market is quite abundant, and the prices are stable. The shopping demand of the people on the full moon of the twelfth month in the lunar calendar merely climbs slightly, not significantly compared to normal days, so it does not affect the purchasing power at the market much. Similarly, supermarkets, such as Co.opmart and BigC, said that the purchasing power has been increasing gradually. The source of goods was carefully prepared by businesses a few months ago, so people should not worry about a shortage of goods and price hikes.

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