Retail market heats up ahead of Lunar New Year

(VOVWORLD) - Ensuring an adequate supply of essential goods for the upcoming Lunar New Year is a top priority in Vietnam for the time being. Ministries, agencies, and local authorities are closely coordinating to monitor market developments and prevent shortages or price spikes during the peak Lunar New Year shopping season.
Retail market heats up ahead of Lunar New Year - ảnh 1(Photo: Tran Viet/VNA)

Many businesses have prepared Tet goods well in advance. The WinMart and WiN retail systems have stockpiled key products from fresh food to household items, and rolled out promotional programs with discounts of up to 50%. At Lotte Mart supermarkets, areas displaying Tet products have been expanded. The Co-opmart supermarket chain has launched several campaigns, focusing on essential goods, private-label products, and homegrown items.

Nguyen Minh Tuan, Director of BigC Thang Long Supermarket, said: “We have ordered suppliers to increase their output of vegetables, meat, fish, and other essentials. Supply volumes have risen 300%. Because we worked with suppliers well in advance, prices have remained stable.”

The retail market in southern Vietnam is gaining momentum, driven by large-scale promotions and abundant supply. The GO! supermarket chain has launched a promotional campaign with strong incentives for food products, household goods, and Tet gift items. Many confectionery products, traditional Tet sweets, and nuts have been discounted more than 20%, enabling consumers to access quality goods at reasonable prices.

Local authorities have developed production and business plans to ensure adequate Tet supplies. In Ho Chi Minh City, local enterprises have used reserve capital for a market stabilization program and have promised to keep prices at least 5% lower than normal during the peak holiday sales period. Rural and mountain regions have strengthened links between cooperatives and farmers to bring agricultural specialties into supply chains and diversify the Tet market.

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