HCM City: Total retail sales of Tet goods reach highest level in 5 years

Friday, 03/02/2023 17:04
Statistics during the Lunar New Year 2023 showed that Ho Chi Minh City’s total retail sales is approximately 57 trillion VND, recording the highest level in the past 5 years, according to Mr. Nguyen Nguyen Phuong, Deputy Director of the City Department of Industry and Trade.
People shopping at a supermarket in HCM City. (Photo: VNA) 

On February 2, the HCM City People’s Committee and the City Steering Committee for COVID-19 prevention and control and economic recovery held a press conference to provide information on socio-economic issues over the past week.

Phuong said that the shopping atmosphere in the city is not as vibrant as every year, possibly because businesses change their business methods. In addition to traditional sales channels, units apply other new shopping methods via online and phones.

According to the statistics of the Department of Industry and Trade, purchasing power, consumer demand, and shopping for this year’s Tet increased by about 4-5% compared to the 2022 Lunar New Year. Purchasing power began to increase from January 14 to 18, making prices of some essential goods inch up during the peak shopping days of Tet.

“After the Lunar New Year holiday, businesses in the city urgently resumed production and business activities. More than 95% of workers have returned to factories,” said Mr. Bui Ta Hoang Vu, Director of the City Department of Industry and Trade.

However, business are facing declining orders with about 30-40% decrease compared to the same period last year and difficulty in access to credit, he added./.