The year-end shopping season in Hanoi, which is usually bustling, has now become gloomy as fashion stores in traditional markets and shopping malls are deserted.
In contrast to the bustling life of Hanoi streets, fashion stores are deserted like never before. From small stalls in traditional markets to large stores in bustling shopping malls, the image of small traders waiting for customers has become a familiar scene during this year's shopping season.
Recorded by a reporter from Cong Thuong Newspaper at Co Nhue Market (Bac Tu Liem), a traditional market with many small traders selling all kinds of clothes, used to be a bustling place for buyers and sellers at the end of the year. But this winter, the market is covered in a desolate look as the number of visitors is too low. Small traders who are usually busy consulting and packing goods now sit around chatting and sighing in weariness.
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| Fashion stalls in traditional markets are deserted. |
Ms. Hoa, a clothing vendor at Co Nhue market, lamented: “Normally at this time of year, there are many customers coming to buy winter clothes. Last year, I had to hire more sales assistants and was busy from morning to evening, but this year, the number of customers has decreased a lot. Even though the prices have been reduced to the maximum, only a few people come to look, mostly to ask the price and then leave.”
According to Ms. Hoa, the prices of many fashion items at the market have dropped sharply to attract customers. Some retailers have chosen to cut profits, find cheaper sources of goods, and even sell below cost to survive the winter. Coats that used to cost 500,000 - 800,000 VND have now dropped to around 300,000 - 400,000 VND. Jeans or sweaters that used to cost around 300,000 - 400,000 VND are now only 150,000 - 250,000 VND. However, despite the price reductions that are difficult to lower, many retailers are still sadly witnessing the lack of customers, as buyers continue to tighten their spending and prioritize more essential needs. The worry about a sharp drop in revenue has Ms. Hoa and other retailers worried about the upcoming Tet holiday.
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| The stall owners "stand" and "sit", waiting for customers. |
The sluggish situation is not only seen in traditional markets but also in bustling shopping centers such as Lotte Center, Vincom Nguyen Chi Thanh... Along the corridors decorated with flashing lights and Christmas trees, large and small fashion stores all display signs of promotions and discounts. Famous brands also launch many attractive promotions such as "Buy 1 Get 1 Free" or "Up to 90% off" but the number of customers coming to shop still decreases significantly.
The manager of a fashion store at Lotte Center said: “At this time last year, the store was always packed with customers, even having to line up to try on clothes. But now, despite the big promotions, the number of customers is still very low. Many people come in just to look, take pictures and leave, but few actually shop. The store’s current revenue has also decreased significantly compared to the same period last year.”
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| At shopping malls, products are heavily discounted but still cannot attract customers. |
Not only Lotte Center but other shopping malls such as Aeon Mall or Vincom Mega also face the same situation. Many shop owners are facing the pressure of high rental costs while revenue cannot cover the costs.
According to statistics, Hanoi has about 540 traditional markets in operation and more than 60 large and small shopping malls. Although the number of markets remains relatively stable, the shopping situation is not very positive, with the number of visitors significantly decreasing compared to the period before the Covid-19 pandemic.
Surveys of many small traders and distribution systems show that the number of customers coming to shop at markets and shopping malls has decreased by 20-30%, and the decline is even more evident in non-essential industries such as clothing and footwear by 40-50%.
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| Stores face pressure from high rental costs while revenue cannot cover costs. |
Explaining this reason, some economic experts said that first of all, the economic situation after the pandemic is still difficult and the impact of Typhoon Yagi, with the high cost of living causing people to prioritize spending on essential needs, reducing the number of visitors to markets and shopping centers. In addition, consumer behavior has changed as online shopping has become more popular, attracting customers thanks to its convenience and competitive prices. This situation makes it even more difficult for small businesses to maintain revenue in the context of continuous promotions not being enough to attract customers back.
Ms. Trang, a mother of four children in Hanoi, plans to buy new clothes for her children this Tet, while she and her husband will only reuse old clothes because the family's economy is more difficult this year than in previous years. Notably, Ms. Trang shared that she has changed her shopping habits, "usually buying clothes for the family online because it is cheaper and saves time traveling. Just by hunting for online promotions, you can buy clothes at very reasonable prices" - Ms. Trang shared.
Source: https://congthuong.vn/thi-truong-thoi-trang-cuoi-nam-e-am-tieu-thuong-chat-vat-tim-khach-358922.html
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