Thursday, April 25, 2024 5:53:09 AM - Markets open
VN-INDEX 1,205.61 +28.21/+2.40%
HNX-INDEX 227.87 +5.24/+2.35%
UPCOM-INDEX 88.37 +0.86/+0.98%
Retailers anticipate business to pick up in year-end shopping season
Vietnam News - 12/4/2023 11:03:03 AM
 (0 ratings. You must sign in to rate.)
Retailers in Việt Nam are increasing inventory and have launched promotions in anticipation of opportunities in the year-end shopping season, as there are just over two months left until the Lunar New Year (Tết) – the biggest festival in a year of Vietnamese people.
Experts predict that from now until the end of this year, retail sales of goods and services may increase again as the domestic economy is gradually recovering and disbursement of public investment continues to be promoted.
It is forecast that consumer demand for essential goods will surge during the Lunar New Year, so many businesses have implemented plans to stock up on goods and negotiate with suppliers to ensure supplies.
Keeping pace with the market, major retailers such as Saigon Co.op, Aeon, Lotte Mart, Winmart, MM Mega Market have been continuously conducting major promotions in all commodity groups.
On November 24-25, Hà Nội Midnight Sale, a large-scale promotion event, attracted about 2.4 million shoppers who enjoyed more than 3,000 promotion programmes worth over VNĐ25 trillion (US$1.03 billion), up 20 per cent over last year’s edition.
This year, it drew about 200 businesses, trade centres and producers, and fashion brands. There were over 10 million visits to the online shopping website.
A highlight of the event is a flash sale display area at Big C Thăng Long supermarket with the participation of nearly 20 brands offering discount of up to 70 per cent.
A representative from Big C stated that the supermarket experienced a significant spike in visits, almost 230 per cent higher than on other days of the week.
The Winmart chain also reported a 140 per cent increase in sales and visits compared to other days of the week.
Japan's AEON reported that sales and foot traffic at AEON Mall Hà Đông and AEON Mall Long Biên malls increased by nearly 200 per cent during the three-day event. The website and mobile app traffic for shopping also nearly tripled compared to regular weekdays.
Vũ Thanh Sơn, general director of the Hanoi Trading Corporation (Hapro), said that to meet increasing consumer demand during the Lunar New Year 2024, Hapro's affiliated units and member companies have made plans to reserve goods worth up to VNĐ1 trillion ($41.2 million).
The Big C supermarket chain shared that since September, the unit signed agreements with partners to supply goods for Tết with a 20 per cent increase in volume compared to the previous Tết.
At the Co.op Mart supermarket system, the amount of goods to serve Tết will rise by about 30 per cent over the same period last year and 50 per cent compared to normal days.
According to Lê Việt Nga, deputy director of the Domestic Market Department under the Ministry of Industry and Trade, the ministry will continue to coordinate to closely monitor market developments, ensure sufficient supply of essential goods, especially during holidays and Tết, to prevent product shortages or price wars. — VNS
Read original article here
Newer News
24/04 VN's economy forecast to grow by 5.5 per cent in 2024
24/04 EVN seeks PM's solutions for solving challenges in PPA negotiations
24/04 Standard Chartered revised down Việt Nam’s 2024 GDP growth forecast to 6%
24/04 Vietnamese PM outlines three key breakthroughs for ASEAN's path to digital excellence
19/04 VN's exports $25.77 billion to the US in Q1
17/04 Vietnamese airlines boost capacity amid holiday rush despite aircraft shortage
16/04 Private sector contributes 45% of GDP
12/04 Việt Nam’s growth projected at 6% in 2024 with policy adjustment: AMRO
12/04 Public investment projects: big push for construction materials sector
10/04 Việt Nam's exports to India maintain growth momentum
Older News
01/12 Capital city's GRDP forecast to expand by 6.11% in 2023
01/12 Agro-forestry-aquatic trade surplus up nearly 34% in 11 months
30/11 Foreign investment flows into Việt Nam go up 14.8 per cent in 11 months
30/11 November’s CPI grows 3.45 per cent
30/11 Vietnamese export goods face increasing trade defence measures in CPTPP markets
30/11 Local companies as buyers, a positive sign for M&A market: forum
28/11 PM asks central bank to ensure sufficient credit flow for the economy
28/11 Quảng Ninh speeds up disbursement of public investment capital
25/11 German firms consider Việt Nam potential destination: survey
22/11 Việt Nam's digital economy to reach $45 billion by 2025
Newsletter Signup
Top Stories
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
PM Chính requires strengthened gold market management
Bank shareholders to receive high dividends, stock bonuses
Shares sustain gains on strong investor confidence
Market Update
Last updated at 3:05:00 PM
VN-INDEX 1,205.61 +28.21/+2.40%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.