Preparing for Tet with SATRA: Stabilizing prices, increasing purchasing power

With only 2 months left until the Lunar New Year 2025, the SATRA retail system and its member businesses are implementing plans to prepare and stockpile Tet goods to keep prices stable.

Tet market is starting to kick off - Photo: BS

While declining purchasing power and rising cost pressures remain major challenges for Ho Chi Minh City’s economy , retail and manufacturing businesses in the area have quickly initiated plans to stockpile goods, especially for the 2025 Lunar New Year. Many creative strategies are being applied to ensure stable supply, reasonable prices and create momentum to stimulate year-end consumption.

Prepare goods early

To prepare for this year's Tet holiday, Vietnam Livestock Industry Corporation (Vissan), a member unit of Saigon Trading Group - One Member Limited Liability Company (Satra ), has prepared about 930 tons of fresh food (up 5% compared to the 2024 Tet) and 3,700 tons of processed food (up 8% compared to the same period), up from previous years. "All input materials have increased compared to the same period," said Mr. Phan Van Dung - Deputy General Director of Vissan. "The increase in input materials is a big challenge. We have to review all unnecessary costs and coordinate closely with suppliers to keep raw material prices at a reasonable level," Mr. Dung added. Vissan has started preparing the plan since July with a budget of up to VND540 billion, up 8% compared to last year. Input materials such as pork and processed foods are guaranteed to increase by 5-8%, helping businesses maintain supply to the market during peak days.

Ho Chi Minh City is entering the year-end shopping season with many consumer stimulus programs. The second phase of the "Shopping Season 2024" promotion program is taking place and will last until December 31 with the program "Buy now - Receive gifts immediately" at 3 Satramart supermarkets and more than 180 Satrafoods convenience stores. Many products are discounted up to 100% and many incentives for SATRA member customers, especially SATRA private labels with strong discounts during this period.

On the occasion of the Lunar New Year 2025, Vissan will not adjust selling prices by optimizing costs and sharing profits to implement promotional programs to stimulate consumption. Detailed production plans from raw materials to finished products are strictly implemented to ensure stability and best serve the Tet market. Not only Vissan, the SATRA retail system, including Satramart supermarket and Satrafoods chain of stores, also increased reserves of essential goods. The total value of goods reserved for the two Tet months is estimated to increase by 15% to 20% compared to the Lunar New Year 2024. In particular, vegetables, seafood, meat, beer and soft drinks are the groups of goods with strong increases in reserves to meet peak consumer demand. "The reserve ensures that there are no shortages, sudden price increases, or poor quality goods during the peak shopping season," said Mr. Lam Quoc Thanh, General Director of SATRA. For many months, SATRA has been working with suppliers to ensure prices and supply of essential goods when there is demand for products in each field and to stabilize before, during and after Tet. The reserve of stabilized goods increased from 6% to more than 14% depending on the group, other items increased from 4% to more than 18%, especially fresh food due to high demand during Tet such as vegetables, fruits, meats, beer and soft drinks. In addition, SATRA also directed units in the retail system to coordinate with Binh Dien Market Management and Business Company, Vissan Company, which are SATRA's member units, to promptly prepare sources of vegetables, fruits, seafood and livestock meat to ensure adequate supply of goods. The policy of linking between manufacturing and retail enterprises is proving effective, helping to strengthen the domestic supply chain and reduce dependence on imported sources.

Ensure supply, maintain price stability

Vissan will not adjust selling prices by optimizing costs and sharing profits to carry out promotional programs - Photo: MS

To maintain the prices of many items, the Ho Chi Minh City Department of Industry and Trade has planned to implement a market stabilization program at the end of 2024 with the amount of stabilized goods increasing from 4% to 6% compared to the end of 2023. 69 businesses have participated in the program with the amount of goods supplied increasing from 23% to 31% compared to normal months and increasing from 25% to 43% during Tet months. This program ensures that essential food items in Ho Chi Minh City always have stable prices and quality that ensures food hygiene and safety. "We have signed long-term contracts with suppliers to maintain a stable source of goods, especially in the context of market fluctuations. Promotional programs are also implemented to stimulate consumption and support consumers during the holidays" - Mr. Lam Quoc Thanh added. Notably, Vissan applies a policy of not increasing selling prices by optimizing costs and sharing profits with suppliers. New products with eye-catching packaging and suitable for Tet tastes are also introduced to increase their appeal to customers. Detailed production plans from raw materials to finished products are strictly implemented to ensure stability and best serve the Tet market this year," added a SATRA representative.

SATRA retail system Satramart Saigon Supermarket, 460 3/2 Street, Ward 12, District 10; Satramart Pham Hung Supermarket, C6/27 Pham Hung, Binh Hung Commune, Binh Chanh District; Satramart Cu Chi Supermarket, 1239 Provincial Road 8, Thanh An Hamlet, Trung An Commune, Cu Chi District; Satra convenience food store chain: satrafoods.com.vn. Source: https://tuoitre.vn/chuan-bi-tet-cung-satra-binh-on-gia-tang-suc-mua-20241121094934565.htm