Businesses throughout Ho Chi Minh City have made efforts to prepare a source of goods with a total value of more than VND19.000 billion in order to cater for the rising demand of consumers in the lead up to the upcoming Lunar New Year (Tet), according to the HCM City Department of Industry and Trade. 

The department also revealed that the quantity of goods for Tet has increased by between 12% and 21% compared to last year’s figures.

A representative of Bach Hoa Xanh supermarket system in Cu Chi district of Hoc Mon said that the number of costumers shopping at the end of the year has significantly risen, with purchasing power climbing by between 30% and 50% compared to normal days.

Supermarkets such as Co-op Mart, Satra, and VinMart have also recorded a sharp increase in their respective purchasing powers.

As a means of avoiding an escalation of prices in Tet goods, several local firms have also increased the supply source of products, even rising by up to 150% to 200% in comparison to the months prior to Tet.

Nguyen Quoc Hoang, general director of Bibica Joint Stock Company, stated that despite facing economic difficulties, the firm has initiated plans to supply 3,000 tonnes of products to the market without increasing prices in an effort to meet the demands of consumers around Tet.

A representative from Co-op Mart supermarket chain revealed that the firm will spend VND5.000 billion this year on a price stabilisation scheme in nine major categories, including rice, sugar, cooking oil, pork, and meat. poultry, poultry eggs, processed foods, fruits and vegetables, and seafood.

The supermarket has strived to increase the number of mobile vending vehicles in an effort to support residents and workers in suburban districts such as Can Gio, Cu Chi, Hoc Mon, and industrial zones.