Consumer demand is increasing sharply ahead of Tết thanks to steady prices and rising incomes. VNA/VNS Photo

HCM CITY – With a week to go for Tết (the Lunar New Year) sales of goods bought to celebrate the Lunar New Year have increased by 30-40 per from normal times, according to market observers.

They attribute it to prices remaining steady and people’s increasing income at the end of the year.

Saigon Co.op’s supermarket chains have managed to meet market demand thanks to early preparation of goods, accurate forecast of demand and discounts, Nguyễn Anh Đức, its permanent deputy general director, said.

In January sales increased by 37 per cent compared to the same period in the previous month, with growth of fresh and processed foods, cosmetics, kitchen appliances, and garments being high, he said.

There has been no shortages of goods, especially pork, and no price hikes, he said.

Đinh Quang Khôi, head of marketing and customer care at MM Mega Market Việt Nam, said customers have bought Tết goods earlier than usual, and retail sales increased by more than 10 per cent compare with same periods of last year, while the increase is 5 -6 per cent if the wholesale segment is included.

Shopping malls in HCM City like Vincom Central Đồng Khởi, Takashimaya and Aeon Celadon Tân Phú are crowded, especially at weekends.

Sales of processed foods are expected to go up by more than 20 per cent.

People are switching more and more to poultry meat and eggs instead of pork because the pork price is rising to the delight of companies like San Hà, Ba Huân and Vĩnh Thành Đạt.

According to experts, the prices of many items have never been so stable as this year as the Covid-19 pandemic caused global demand to shrink.

Many products could not be exported, and so producers and distributors switched their focus to the domestic market, increasing supply.

To sustain demand in this scenario enterprises have had to improve quality and keep prices competitive. – VNS