In addition to the operation of 24 brand new supermarkets nationwide, Vinmart is offering its customers a special discount of up to 49% for all essential products until December 24. Around 300 Christmas gifts will also be presented to children accompanied by their parents who spend more than VND300,000 (US$13.5).From December 14-27, Co.opmart and Co.opXtra customers have the chance to enjoy special offers, including 50 percent discounts for thousands of essential commodities, one-price programmes and a sparkling Christmas programme. In addition, customers who spend more than VND400,000 (US$18.06) will receive substantial discounts for some commodities. Meanwhile, shoppers at Lotte Mart are entitled to a discount of 49 percent from December 12-21. However, prices for lucky-money envelopes and Tet decorations are forecast to surge by 5-10 percent.
According to Ho Chi Minh City’s Department of Industry and Trade, prices for Tet commodities will be stabilized and supplies will rise by 15-20% from last year. Commercial banks in the city have issued VND1.6 trillion (US$72.2 million) in loans for 18 businesses to stock products for the Tet holiday, the Department said.
The Hanoi People’s Committee has also advanced over VND236 billion (US$10.6 million) to 10 enterprises to prepare essential commodities for Tet, including rice, pork, chicken, eggs, frozen seafood, vegetables and confectionary.
The sales over the three month period of Tet contribute 28% of annual carbonated soft drink sales. Average beer sales in one Tet month is 1.5 times higher than a regular month. Biscuits are also popular during Tet, as they are distributed to visitors to family homes. More than 401 options are available for them to choose.
Manufacturers are driving stock for Tet earlier than ever to be on shelves at the peak time. As a consequence, consumers are adapting to this new trend and buying products as alternative gift options. At the other end of the spectrum, emerging behavior of retailers has also been seen.
At least 24% of retailers also intend to increase their stock level higher than 2015, reflecting their confidence level. In addition, among those intending to increase their stock, 87% plan to increase to a significant level of more than 10%.
Retailers expect support for Tet sales by ensuring product quality, payment methods, assistance in displays, and strong promotions. These expectations are varied in different regions. Gift hampers contribute important sales and are more preferable in the North and South East regions. Retailers expect manufacturers of top selling-products to have more eye-catching and Tet-related packaging. One size fits all is not applicable to the market nationwide.
