In the final days of the Year of the Wood Snake, at Hanoi’s traditional markets such as Ninh Hiep and Dong Xuan, or along commercial streets like Hang Ngang and Hang Dao, the trading atmosphere is no longer as vibrant as before. Crowds still pass through, but actual transactions are becoming increasingly scarce.
Although the Lunar New Year of the Fire Horse is less than 10 days away, reporters noted that at Ninh Hiep, the “capital of fabric and fashion”, business activities are less lively compared to previous years. It’s not difficult to see kiosks with “For Rent” signs, stores operating moderately, or even places with shutters half-down.
According to many merchants, increased inspections by management agencies regarding product origin, invoices, and taxes have led many businesses to choose a “half-open, half-closed” status to minimize risk.
58-year-old Hoang Thi Mai, a clothing merchant at Ninh Hiep Market, said: “Previously, I used to receive dozens of wholesale customers every day, but now there are days when only a few people come in to ask. I don’t dare to import much stock for fear of heavy inventory.” Her average monthly income is currently only half of what it was during this time in previous years, while the costs of renting the kiosk, electricity, water, and labor are increasing.
At Dong Xuan Market, the North’s wholesale consumer hub, foot traffic remains high, yet the buying atmosphere is quieter than in previous Tet seasons. Clothing kiosks see sporadic inquiries as shoppers compare prices and leave without placing large orders.
Kiosk owner Ho Van Vien notes rising costs and declining purchasing power have ended the traditional “golden season” for profits. Similarly, on central streets like Hang Ngang and Hang Dao, crowds consist mostly of sightseers rather than active shoppers. Despite festive music and bright promotions, stores remain largely empty, with actual sales failing to match the bustling pedestrian density observed outside.
According to many merchants, tightened consumer spending, along with the increasingly popular habit of online shopping, has caused many wholesale customers to switch to ordering via e-commerce platforms or importing directly from manufacturers. The intermediary role of wholesale markets and traditional trading streets has therefore clearly diminished.
In stark contrast with quiet traditional markets, livestream sales on social networking platforms are bustling. Not only small traders but also farmers and manufacturers are opening stalls on TikTok and Shopee to find output outlets.
Specializing in importing clothes from Ninh Hiep Market and Guangzhou (China) for online sales, Le Thi Thu Quyen from Phu Tho Province shared that many business owners are currently afraid of holding stock due to large inventory and slow purchasing power.
“I usually post sample photos or import only 1-2 products to livestream. When customers close orders, I order more according to the actual quantity to avoid holding stock,” Ms. Quyen said. During the peak season for selling Tet ao dai, she earns tens of millions of VND per month, though she must deduct about 20 percent for platform fees and operating costs.
The Digital Vietnam 2025 Report cites social networks and livestreaming as vital for reaching consumers. Recent collaboration between TikTok Shop and the Center for E-commerce Development and Digital Economy (under the Ministry of Industry and Trade) successfully boosted agricultural sales through large-scale campaigns, yet small sellers often struggle to sustain revenue afterward due to limited brand recognition.
Assoc Prof Dr Nguyen Thuong Lang from the School of Trade and International Economics (National Economics University) notes that while online sales are surging due to digital tech and cashless payments, traditional commerce still has “room to live.” Older generations and shoppers seeking tactile experiences ensure physical markets remain relevant. Long-term, e-commerce will increasingly replace traditional methods, but both models are expected to coexist in parallel for a long period.
The livestream race, therefore, reflects not only a shift in business methods but also poses a requirement for a reconstruction of traditional markets, from management and planning to infrastructure investment, in order to adapt to the new consumer context, rather than being left behind in the wave of digital transformation.
In many Facebook groups specializing in livestreaming, services to boost views and comments are openly solicited. A group administrator said that to get consistent orders, sellers often have to use support software and nurture many secondary accounts to create stable interaction for each livestream session. However, the effectiveness of closing orders still depends on the channel’s reputation, sales skills, product quality, and customer care ability.
