Many solutions to stimulate year-end and Tet consumption

Ho Chi Minh City aims for retail growth of 18%.

With positive growth results from the tourism sector, Ho Chi Minh City also aims for 18% growth in retail sales. The final months of the year, a time of market activity, are expected to provide the impetus to achieve this target. However, the city's inflation rate is currently at 4% – significantly higher than the national average. Finding effective solutions to boost purchasing power is therefore essential.

As the year draws to a close, prices of essential goods become increasingly volatile due to pressure from input costs, exchange rates, and weather conditions. Businesses involved in market stabilization programs say they are striving to balance costs to keep prices stable.

Mr. Truong Chi Thien, General Director of Vinh Thanh Dat Food Joint Stock Company, said: "The price registered with the external market stabilization program is about 5%. We are committed to maintaining this price until the end of the year."

According to experts, to accomplish the dual task of both stabilizing prices and stimulating consumer demand, in addition to the efforts of businesses, further leverage in terms of capital policies and consumer credit is still needed.

Ms. Ly Kim Chi, Chairwoman of the Ho Chi Minh City Food and Beverage Association, stated: "To maintain prices and stabilize commodity supply, we need to stockpile large quantities of raw materials for the Tet holiday. Therefore, preferential credit packages with reasonable interest rates are essential. We hope that banks will continue to facilitate the flow of capital to support timely bank-business connection programs."

Mr. Huynh Phuoc Nghia - Director of the Center for Economics , Law and Management, Ho Chi Minh City University of Economics, commented: "We can reduce taxes on certain goods and products to encourage increased consumption or combine special packages with public-private partners to make them attractive during the shopping season…".

The Ho Chi Minh City Department of Industry and Trade announced that it is coordinating with businesses in programs to connect supply and demand, expand raw material areas, and spread market stabilization programs to wider areas.

Mr. Bui Ta Hoang Vu, Director of the Ho Chi Minh City Department of Industry and Trade, shared: "The market stabilization program, the 'dTick Green' responsibility program, has helped increase consumer confidence. Shopping Season is one of the characteristics that Ho Chi Minh City has successfully implemented. Businesses sell products in large quantities, making consumer costs more reasonable."

Along with a 2% VAT reduction and the promotion of e-commerce, Ho Chi Minh City is creating further impetus to unleash purchasing power, expand the scale of retail, and aim for double-digit growth.

Many solutions to stimulate consumer demand at the end of the year and during Tet (Lunar New Year) - Photo 1.

Businesses involved in market stabilization say they are working to balance costs in order to keep prices stable.

Hanoi strives to achieve a 14% growth target in total retail sales.

In the first 10 months of this year, Hanoi's total retail sales of goods and consumer service revenue reached VND 789.1 trillion, an increase of over 12% compared to the same period last year. Hanoi is implementing various measures to stimulate consumer demand, striving to achieve a 14% growth target for total retail sales and consumer service revenue this year.

The city has officially launched the November Promotion Day, an activity within the series of Hanoi City's Concentrated Promotion Programs in 2025. With the theme "Exciting Promotions, Joyful Shopping," consumers can experience shopping at 100 booths across various sectors such as fashion, technology, consumer goods, regional specialties, OCOP products, etc., with discounts up to 50%. They can also learn about and support "Proudly Vietnamese Products," explore the commercial street space, and experience digital technology areas. The Hanoi Department of Industry and Trade clearly defines the program as not merely a consumer event, but one that contributes to promoting the development of the domestic market, increasing the competitiveness of Hanoi's businesses, and shaping a civilized and modern consumer culture for the people.

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