From the beginning of January to now, the wholesale markets of Hoc Mon, Thu Duc, Binh Dien have received 2,600 tons, 1,600 tons, and 1,500 tons of goods per day, respectively. Thereby, prices of food and fresh goods have declined by about 20 percent.
Although the purchasing power is not expected to hike suddenly during this Lunar New Year, Ho Chi Minh City has been ready to supply tens of thousands of tons of food and foodstuff products every day to ensure consumer demand before, during, and after the Tet holiday.
Unlike previous years, manufacturing enterprises do not have much time to prepare for the Lunar New Year because all of them have just gone through a difficult period due to the prolonged Covid-19 pandemic. However, with positive signals of the market, enterprises are striving to increase output, as well as implement safe production solutions, so that the progress of supplying goods to the market for the Tet holiday will not be affected.
The general purchasing power in the market has been highly increasing. People tend to buy Tet goods earlier than in previous years. Goods are plentiful and diverse with stable prices. That is the general opinion of traders about the Tet market.
The Economy and Budget Division of the People's Council of Ho Chi Minh City made a field trip and had a meeting with key enterprises of the city on the preparation of goods for the upcoming Lunar New Year on December 23.
As the market has entered peak time of Tet holidays, purchasing power has started to surge but goods supply is still plentiful with steady prices as supermarkets have run promotional campaigns and entered fierce competition to win more customers.