People rushed to go shopping for the Tet holiday at supermarkets and commercial centers in HCMC on the afternoon of January 19 (the 28th day of the last month in the lunar calendar). They had to wait for a long time at the checkout counters.
More than 40,000 tonnes of merchandise especially for the Lunar New Year of 2023 (Quy Mao Tet holiday) is on the way to serve the needs of Ho Chi Minh City dwellers. Enterprises participating in the price stabilization scheme are going to supply 25-43 percent of the market demands. The HCMC Department of Industry and Trade estimates that the purchasing power at this upcoming Tet holiday will be much higher than the one of the previous year.
Several commercial centers and supermarkets in Ho Chi Minh City have been promoting the program to stimulate consumption on the occasion of National Day. Forecasts from the Department of Tourism and the Department of Industry and Trade of HCMC said that the number of visitors to enjoy and shop on this occasion would increase sharply compared to normal days.
It was recorded that, on the last two days of the week in Ho Chi Minh City, the number of people flocking to traditional markets, supermarkets, and trade centers increased sharply. Essential consumer goods, such as cooking oil, rice, eggs, fish, and meat, were consumed well, but prices did not hike unexpectedly.
On the afternoon of June 22, some commercial centers, supermarkets, and markets in Ho Chi Minh City informed that the purchasing power had gradually improved after nearly ten days of implementing a large-scale concentrated promotion program. This year, the Department of Industry and Trade of HCMC, in collaboration with the Department of Tourism, the Department of Health, and enterprises, have offered discounts from 10 percent to 90 percent, even up to 100 percent at some places for customers.
After a gloomy period due to the impact of the Covid-19 pandemic in Ho Chi Minh City, the purchasing power in the city has lately rebounded, leading to the strong recovery of the retail industry. In the first four months of this year, the total retail sales of goods and services reached VND1,777.4 trillion (US$76.76 billion), up 6.5 percent over the same period last year.
The prices of some consumer goods and fresh food for sale at small and spontaneous points of sale in Ho Chi Minh City have started to hike in the past few days. Sellers explained that freight costs started to climb, so the increase in selling price was inevitable. Meanwhile, large supermarkets and trade centers confirmed that they still run many promotions and offer deep discounts to support consumers.
On the occasion of the Reunification Day and the International Labor Day and to stimulate consumer demand, the network of trade centers and supermarkets have simultaneously launched attractive promotional programs with high discounts from April 28.
The prices of many items, such as fruits, vegetables, cooking oil, and fresh milk, at retail points of sale and markets on March 21 increased by 15-40 percent compared to before the 2022 Lunar New Year. Delivery service also added a surcharge of VND5,000-VND15,000 per order. Meanwhile, at supermarkets and wholesale markets, prices of commodities remained stable.
The ministries of Industry and Trade and Finance, on the afternoon of March 1, allowed fuel enterprises to increase the domestic retail prices of gasoline. Accordingly, E5 RON92 gasoline rose by VND547 per liter to a maximum price of VND26,077 per liter; RON95 gasoline price surged by VND554 per liter to a maximum of VND26,834 per liter. It is the sixth consecutive increase and the fifth increase in a row in 2022. Along with an increase in gas prices, the fact that gasoline prices continued to climb has put pressure on food products, consumer services, and transport.
It was recorded that the purchasing power at traditional markets and supermarkets in Ho Chi Minh City on the sixth day of the first month in the lunar calendar was fairly weak despite several promotions and stable prices.