Customers "tighten their purse strings" for Tet shopping?

(Dan Tri) - This Lunar New Year, consumers prioritize saving money, cutting unnecessary expenses, focusing on essential goods and taking advantage of promotional programs.

"No frills, cutting anything is good for your wallet"

Ms. Ngoc Anh ( Hanoi ) said that this year she decided not to give wine in her Tet gift basket but to add some domestically produced cakes and jams. "Domestic goods but if you choose the specialties carefully, they still ensure the criteria of delicious, nutritious and cheap," she said. According to her, the shopping criteria now is "no frills, cutting down on anything that is good for your wallet". Ms. Ngoc Anh is not the only consumer who chooses this spending method. Thanh Huyen (Hanoi) plans not to buy new clothes or get her hair done this Tet to save money for more necessary expenses. The agency where Huyen is working this year only gives her a 13th month salary, no Tet bonus. To limit Tet spending to 30 million VND, Huyen plans to reduce lucky money for relatives and prepare gifts such as coconut jam and dried apricots, instead of imported fruits. Thu Hien (Hanoi), an employee of a state agency, has just officially quit her job close to Tet. "This year, I don't have a 13th month salary or a Tet bonus, I only have the remaining Lunar New Year bonus," Hien said. "The end of the year is an occasion for meetings, so I still prepare gifts for both sides of the family, but I have to replace them with Tet gift bags with more suitable values, not like last year," Hien shared. As consumers cut back on spending and limit their purchases, many small businesses have also had to adjust their business strategies. Ms. Luu, the owner of a grocery store on Tran Thai Tong Street (Hanoi), proactively packaged moderate, inexpensive Tet gift sets to avoid sluggish sales. "If in previous years, gift baskets and self-selected sets were popular at VND800,000-900,000, now they are only VND400,000-600,000," Ms. Luu said. According to her, this year's customers prefer to buy candy, drinks, and home cleaning products - goods directly related to and indispensable during the Lunar New Year.

Supermarkets promote buy 1 get 1 free promotions (Photo: My Tam).

Although the value of orders is only flat or decreasing, people's purchasing power has increased compared to normal days. Taking advantage of the days before Tet, Ms. Vy Anh invited her daughter to go shopping for Tet. "It's close to Tet, work at the company and at home has piled up, so I only have time to shop now," she said. In addition, she also wants to be sure about the bonus for both husband and wife to allocate expenses, avoiding shortages. In addition, she believes that Tet has many promotions. When shopping, there will be many price options. An employee of a Winmart store in Hanoi said that in previous years, customers started shopping from the beginning of December. But this year, 2-3 weeks before Tet, people have not been very active, only becoming more active in the last few days. In addition, according to this employee, to save more money, consumers tend to prioritize buying on days when supermarket systems have many promotions. "Most items have promotions on this occasion," she said. "You have to wait and jostle, but as Tet approaches, there are more and deeper promotions. Shopping at this time also has a bustling atmosphere," she added.

Tighten your purse strings when shopping for Tet

Data from Kantar Worldpanel Vietnam shows that over the past three years, the contribution of the two months of Tet to the annual results in the fast-moving consumer goods (FMCG) industry has gradually decreased, from 21% to 19% in urban areas and 24% to 21% in rural areas. Therefore, manufacturers and distributors must grasp and respond to the trend of consumers wanting to welcome and prepare for Tet in a simpler and more convenient way . Similarly, according to the "Asia- Pacific Consumer Survey 2024" report by PwC in Vietnam, inflation is the top risk for the majority of Vietnamese consumers in the next 12 months. Specifically, 63% of consumers expect to increase spending on essential goods, followed by clothing (52%) and healthcare products (48%). This data shows that besides preparing for Tet, people are also concerned about taking care of their own health and that of their families.

Inflation is the top risk for the majority of Vietnamese consumers in the next 12 months (Photo: Thanh Dong).

In addition, the Metric data platform also predicts that retail sales on e-commerce platforms will increase during the Lunar New Year. A recent report on consumer shopping behavior during Tet conducted by Metric shows that during Tet, product groups and industries with strong growth potential on e-commerce platforms are food and beverages, especially fresh food, vegetables, confectionery, and non-alcoholic beverages. In addition, beauty products, fashion , and Tet gifts are also expected to grow. According to this unit, consumers also tend to shop more economically by proactively shopping for Tet early and looking for promotions near Tet. Spending on healthy food and drinks will also be prioritized. To attract consumers during Tet, online sellers are advised to increase their advertising budget by 10-30% higher than normal days. Previously, during Tet 2024, total sales on online retail platforms accounted for 4.6% of total revenue of the Vietnamese retail market, an increase of more than 100% compared to 2023.

Trend of economical and simple Tet shopping

This year's shopping trend is seen as economical, focusing only on essential goods. Popular items are mainly essential items such as fresh food, items consumed a lot during the Tet holiday are confectionery, soft drinks... with mid-range price segment. Specifically, customers mainly choose confectionery in the price segment from 100,000 VND to 250,000 VND, prioritizing products of reputable brands and with beautiful packaging designs. It is expected that in the coming days, consumer demand will continue to increase strongly as Tet approaches. WinCommerce recorded that the number of customers coming to shop at the supermarket system has started to increase by about 10-20% compared to normal days, especially crowded during peak hours in the evening and on weekends. Similarly, purchasing power at GO!, Big C, Tops Market is increasing day by day, focusing on items such as confectionery, beer, wine, soft drinks, cold cuts, imported fruits, Tet decorations and seasonal Tet products such as Chinese sausage, pickled vegetables, pickled onions, ham, as well as fresh products such as pork, chicken, fruits, etc. Supermarket systems forecast that purchasing power during Tet will increase by about 20% compared to normal days. On the supply side, supermarket systems have proactively stockpiled goods early with a 10-20% increase in reserves, ensuring that the amount of goods is sufficient to meet people's consumption needs throughout Tet. Supermarkets have also proactively stockpiled to ensure supply and maintain stable prices throughout Tet, especially for fresh foods such as pork, chicken, vegetables, Tet offerings or spices, high-consumption items such as cakes, candies, drinks, etc.

This year's shopping trend is seen as thrifty, focusing only on essential goods (Photo: Do ​​Ngoc Luu).

To promote domestic consumption and create the premise for stronger growth this year, the Ministry of Industry and Trade has directed the Departments of Industry and Trade of provinces and centrally run cities to proactively implement solutions to ensure supply-demand balance, stabilize the market, and prevent shortages and disruptions in goods sources, causing sudden price increases before, during and after Tet. The Departments of Industry and Trade of provinces and cities also need to strengthen coordination with businesses to forecast consumer demand, thereby developing appropriate plans for goods supply; increase the organization of large-scale, synchronous, concentrated promotional programs nationwide, creating a strong spillover effect, encouraging people to buy Vietnamese goods.

Dantri.com.vn

Source: https://dantri.com.vn/kinh-doanh/khach-that-chat-hau-bao-sam-tet-20250122164634538.htm