Consumer spending increases as Tet approaches.

Taking advantage of the weekend, Ms. Binh, 37, who lives in Hanoi , invited her husband to go shopping for Tet (Lunar New Year). "With Tet approaching, work and household chores have piled up, so I only have time to shop now," she said.

In addition, she also wanted to be sure about both of their bonuses so she could allocate expenses and avoid running out of money. "This year the economy is tough, and everywhere there are reports of bonuses being reduced or even cut, so we can only plan properly when we have the money in hand," she shared.

In fact, surveys conducted at retail systems in Hanoi and Ho Chi Minh City over the weekend of February 3-4 showed a sharp increase in the number of shoppers preparing for the Lunar New Year (Year of the Dragon). At Co.op Xtra supermarket (SC Vivo City area, District 7, Ho Chi Minh City), even after 9 PM, the checkout counters were still overloaded, with customers having to wait more than 20 minutes for their turn. Most customers were families buying items for the Lunar New Year such as food, confectionery, soft drinks, and beer.

Supermarkets like Lotte, Winmart, Big C, and AEON in both northern and southern Vietnam also recorded bustling shopping activity. Parking areas, entrances, and checkout counters were constantly overloaded.

Hanoi residents shop at AEON Mall Ha Dong supermarket on the evening of February 3rd.

A representative from WinCommerce, the company operating the Winmart supermarket chain and Winmart+ convenience store chain, said that recently, the number of shoppers at their outlets has significantly exceeded normal levels. "Shopping demand is expected to increase sharply from now until just before the Lunar New Year," the representative said.

In response to signs of increased purchasing power, Ms. Nguyen Thi Ngoc Thuy - CEO of Kingfoodmart (a chain of over 50 supermarkets in Ho Chi Minh City) - said that the company has prepared a total inventory worth approximately 300 billion VND for the first two months of the year, a 150% increase compared to normal days.

Both Saigon Co.op and AEON estimate that purchasing power is increasing by 10% compared to last year. "From the beginning of the twelfth lunar month, there have been signs of improvement, with purchasing power gradually increasing over the weeks and continuing to rise rapidly after the full moon of the first lunar month," an AEON representative shared.

Ms. Lien Nguyen, representative of Thu Duong Specialty Products, a distributor of about 10 food brands in Ho Chi Minh City, also said that consumers are shopping for Tet later than usual this year.

"Every year, customers start shopping from the beginning of the twelfth lunar month. But this Tet holiday, people haven't been buying much in the last 2-3 weeks; the shopping has only become more active in the last ten days or so," she said. Currently, products made from coconut flower nectar at her store are seeing a 30-40% increase in sales compared to normal days.

According to Ms. Lien, the reason is that initially, most people wanted to limit spending after a somewhat sluggish economic year, but as Tet approached, they decided to shop again because the custom of preparing for Tet has become a tradition.

Spending her entire Sunday evening shopping at AEON Mall Ha Dong, Ms. Quynh, an office worker in Hanoi, said this was her second time shopping for Tet (Lunar New Year) this month. "There's waiting and crowding, but closer to Tet, there are more and deeper promotions. Shopping at this time also has a lively atmosphere," she said. She also mentioned that she divides her shopping into several sessions, both in person and indirectly through online platforms. "Online shopping often uses discount codes, so I save a bit more," she added.

In fact, retailers report that the trend of online Tet shopping is positive this season. According to a representative from Saigon Co.op, online sales are experiencing strong double-digit growth. Therefore, combined with promotional activities and incentives, this supermarket chain expects purchasing power to increase by 20-30% by the end of the peak sales period.

Although purchasing power has improved, this year's shopping trend is seen as one of saving money. Focusing solely on essential goods, order values ​​have dropped sharply compared to previous years.

After three hours of diligent shopping at the supermarket, Ms. Binh's basket was overflowing with cakes, candies, noodles, vermicelli, meat, and vegetables. She said she had cut back on beer and wine and only chose to buy local confectionery. "I decided not to include wine in the gift basket but added some cakes and candies instead. Even though they're domestic products, if you cleverly choose local specialties, they still meet the criteria of being delicious, nutritious, and affordable," she said. According to her, the shopping motto now is "no frills, cut back on whatever is best for the wallet."

"In previous years, gift baskets and customizable sets were commonly priced at 700,000-800,000 VND, but now they only cost 400,000-600,000 VND," said Ms. Nguyen Thi Bich Van, Communications Director of Central Retail.

Similarly, WinCommerce's findings also show that customers currently prefer buying confectionery, beverages, and household cleaning products – goods that are directly related to and indispensable during the Lunar New Year. For fresh and frozen food items, customers are buying more fruits and hot pot ingredients such as pork, mushrooms, and beans.

In addition, to save more money, consumers also tend to prioritize shopping on days when supermarket chains have promotions and loyalty point programs. "People usually flock to the stores on the 5th and 20th of each month because those are AEON member loyalty days for points accumulation and discount offers," AEON said.

The company also shared that the value of recent orders has decreased due to the difficult economic situation, with shoppers being more frugal and prioritizing only essential items and health-related products.

Accordingly, lingerie, mother and baby products, health and beauty care products are still selling well. Because these are essential products, even if customers are frugal, they still need to buy them for their daily needs.

TB (according to VnExpress)

Source: https://baohaiduong.vn/suc-mua-can-tet-tang-372545.html