Businesses are ready to supply goods for the end of the year and Tet At Ty.

At this time, businesses are busy preparing their inventory for the end of the year and the Lunar New Year (Year of the Snake). This is expected to help boost overall retail sales.

Total retail sales continue to grow, but are not expected to increase significantly.

According to the latest report from According to the Ministry of Industry and Trade , the domestic commodity market has generally remained stable recently. Currently, the supply of green vegetables has decreased due to the transition period for the winter crop and damage from storms, resulting in high prices in the northern provinces at the beginning of the month. However, since the end of the month, improved supply has led to a gradual decrease in prices. Other essential goods have stable supply, so prices have not fluctuated significantly. Some fuel and energy items, such as gasoline and LPG, have seen price fluctuations in line with world prices.

Total amount retail Consumer goods and service revenue at current prices in October 2024 is estimated at VND 545.7 trillion, an increase of 7.1% compared to the same period last year, mainly due to a 12.0% increase in the food and beverage group and a 21.4% increase in the transportation group (excluding automobiles).

Overall, in the first 10 months of 2024, total retail sales of goods and consumer service revenue at current prices are estimated at VND 5,246.2 trillion, an increase of 8.5% compared to the same period last year (9.8% increase in the same period of 2023), or 4.6% if excluding the price increase factor (7.3% increase in the same period of 2023).

Retail sales of goods in the first 10 months of 2024 are estimated at VND 4,048.6 trillion, accounting for 77.2% of the total and increasing by 7.8% compared to the same period last year.

Winmart stores are preparing their Tet holiday inventory (Photo: Winmart)

According to manufacturers and retailers, although cyclical, purchasing power... domestic market Prices are expected to increase towards the end of the year, but this year's forecast is not as high as anticipated. This is because the domestic economy continues to be affected by unfavorable factors, including Typhoon No. 3 (Typhoon Yagi) which occurred in mid-September 2024. These fluctuations have made consumers more cautious about spending, and even more sensitive to prices. Specifically, after Typhoon No. 3, purchasing power decreased in the North and Central regions, and also in Ho Chi Minh City, as many consumers tended to save for unforeseen circumstances and cut back on personal spending.

Businesses are boosting consumer demand at the end of the year.

Ms. Nguyen Thi Hoai Thuong, Director of WinMart Thang Long supermarket, said that the WinMart/WinMart+ system has made thorough preparations to meet the demand for goods in the last months of the year, when the market usually sees an increase in purchasing power, expected to be over 20%.

Accordingly, this supermarket chain has planned ahead to prepare a stable supply of goods and ensure price stability, especially for essential consumer goods, fresh food, and goods for the year-end season. At the same time, Supra is focusing on developing its internal supply chain to optimize distribution and ensure fast and timely transportation.

Alongside preparing goods, the WinMart/WinMart+ system is also implementing many attractive year-end promotional programs to stimulate shopping and meet the diverse needs of customers. Specifically, in November, to celebrate WinMart's 10th anniversary, the system is launching the "10 Years of Connection - Complete Trust and Love" promotional program across the entire system, with discounts of up to 50% along with buy-one-get-one-free and buy-two-get-one-free offers, and especially the "Only 10,000 VND" offer for some selected products.

"Specifically for food items such as pork, chicken, and vegetables for the end of the year and Lunar New Year, to prepare for the peak seasons, the WinMart/WinMart+ system has actively negotiated and worked with suppliers 2-3 months in advance to purchase large quantities and ensure input costs." – Ms. Nguyen Thi Hoai Thuong shared. She also stated that, along with the development of the WinMart supermarket chain, WinMart+ and WIN stores in terms of sales points, the system has increased production of pork and chicken by approximately 20-30%; and vegetables by about 20% compared to normal months of the year.

In addition, the WinMart/WinMart+ system also distributes MEATDeli chicken and pork products using European chilled meat technology. Therefore, they can proactively ensure the supply and price of these products during the Tet holiday.

To show appreciation to our valued members, the WiN membership program continues to offer a 20% discount on WinEco fresh vegetables and MEATDeli chilled meats from now until the end of the year. In particular, members will receive double benefits with the Brand Week program running in November and the chance to participate in a lucky draw when purchasing from 499,000 VND at WinMart supermarkets or from 299,000 VND at WinMart+/WiN, with a total prize value of up to 300 million VND (running from now until December 4th, 2024).

The Ho Chi Minh City Commercial Cooperative Union ( Saigon Co.op ) has also planned its end-of-year and Tet (Lunar New Year) supply of goods since mid-2024, focusing on product groups and items that are in high demand during the holiday season. To secure large quantities of goods at good prices, Saigon Co.op has partnered with distributors to place long-term orders of 3-5 years, helping them plan production and proactively secure supplies. Saigon Co.op also forecasts market supply and demand to help manufacturers plan their supply accordingly. Furthermore, many suppliers, including cooperatives and small and medium-sized enterprises, will receive financial support from Saigon Co.op through connections with banks, where Saigon Co.op acts as an intermediary partner ensuring the market for their goods after production. In addition, from now until the end of the year, Saigon Co.op will continue to organize numerous promotional programs to stimulate consumer demand and support businesses in developing their markets.

Previously, during the 2024 Lunar New Year season, Saigon Co.op prepared a total value of essential goods worth up to 10,000 billion VND, an increase of 20%-50% depending on the product category compared to a normal business month.

Regarding local areas, Ms. Nguyen Kieu Oanh – Deputy Director in charge of the Hanoi Department of Industry and Trade – shared that in 2024, the Hanoi Department of Industry and Trade implemented a market stabilization program with 30 participating businesses, ensuring sufficient supply of consumer goods for the end of the year and the Lunar New Year of the Year of the Snake.

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