This year’s buildup to Christmas is seeing Vietnamese people tighten their belts and spend less on gifts, as many are struggling financially due to their incomes being hard hit by the COVID-19 impact.

 The best-selling item this year is a small Christmas
tree that is suitably priced for customers

These changes to the typical shopping trend of local buyers at this time of year has therefore hit the domestic retail industry hard.

According to a shop owner in Ho Chi Minh City, the impact of COVID-19 has altered the spending habits of consumers, with many becoming much more economical.

“This year saw a sharp decline in the number of customers. They have to think twice before shopping and will just buy small decorative items such as a small Christmas tree, wreaths, golden bells, and snowmen,” she noted.

“These products only cost between VND150,000 andVND300,000,” the shop owner added.

This year, the purchasing power of locals sharply decreased.

Nguyen Thien Trang, the owner of a shop located on Nguyen Dinh Chieu street in District 3, said that last year her business was able to sell between seven and eight Christmas trees each day in the lead up to the festival.

“However, I have just sold one Christmas tree today. This means that the purchasing power of locals has sharply decreased,” Trang confided.

Trang also noted that this year has also seen some local manufacturers not produce new models as a result of the weak purchasing power of Vietnamese customers, thereby forcing shop owners to import Christmas products from China due to their cheap prices.

“I hope there will be a positive sign in the purchasing power over the next few days,” she added.