Retail system concentrates on stabilizing essential goods

There are nearly two months left until the Lunar New Year, but now the retail system has planned to stock up on goods for the peak shopping season, focusing on food and foodstuffs.

From the beginning of November, Saigon Co.op has stockpiled essential goods, with a total value of nearly VND6 trillion, an increase of nearly 20 percent compared to the previous year, in order to perform the task of stabilizing market prices while ensuring to well serve the shopping demand of customers before, during, and after the Lunar New Year.

“To well prepare the source of goods for the Tet holidays, right from the middle of this year, we have planned to coordinate with manufacturers and suppliers to increase the volume of essential goods by 2-3 times. Most of the budget prioritizes the stockpiling of market-stabilizing commodity groups, including rice, sugar, cooking oil, pork, poultry meat, poultry eggs, processed foods, vegetables, fruits, and aquatic products. The rest is for other food and non-food items and Tet specialties. At the same time, Saigon Co.op has also increased the frequency of quality control of goods during this peak business period, especially for Tet holiday foods," said Nguyen Ngoc Thang, Director of Operations from Co.opmart.

Similarly, Emart Marketing Senior Manager Le Huu Tinh said that the volume of Tet goods this year would increase by about 15 percent. Noticeably, more than 95 percent of this year's Tet goods at Emart are domestically produced, concentrating on essential goods.

“Special groups of goods for the Tet holidays are given priority to those that do not increase prices to support consumption. Tet gift items are designed following gift packages with prices 10-30 percent lower than last year to be suitable for the need to save expenses of businesses in difficult times," said Mr. Tinh.

A representative of Saigon Aquatic Products Trading Joint Stock Company also said that the reserve for the peak of Tet season this year would increase three times. Moreover, the company had a plan to produce continuously if demand spikes.

“Our company participates in the city's market stabilization program and signed with buyers from the beginning of the year, so the price will not change. Some items will even be discounted to accompany consumers to overcome the pandemic and welcome the Lunar New Year happily," the representative of this company said.

According to the HCMC Department of Industry and Trade, up to now, enterprises in the stabilization program of the city said they would increase their output by 15-20 percent compared to normal days. Most of them have pledged not to raise prices, especially for essential food items. The municipal People's Committee will also set up an interdisciplinary team chaired by the Department of Finance to check and stabilize prices before, during, and after the Lunar New Year.

According to the HCMC Department of Industry and Trade, by December 13, the number of businesses registered to participate in the focused promotion program was 1,732, with 6,794 programs. Through the surveys at commercial centers and supermarkets in the area, after nearly one month of implementing the focused promotion program, the purchasing power has increased by 25 percent.

The focused promotion program takes place from November 15 to December 31 in HCMC and from December 1 to January 1, 2022, nationwide. The program has attracted consumers, thereby stimulating consumption.