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Market rebounds, VN-Index breaks over 1,200 points
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Viet Nam News
HCM CITY — Thanks to their preparation, Co.opmart, Co.op Food and Co.opXtra supermarkets successfully served three times the number of shoppers during the Tết (Lunar New Year) holiday month of January than during regular months.
Reporting at a New Year meeting with city leaders, a Saigon Co.op representative said since the middle of last year it had actively co-operated with suppliers of essential products to increase supply by two to four times as well as ensure stable prices during Tết, with a focus on locally-made products such as fresh and dried food, garment products, household appliances and beverages.
In addition to the price-stabilisation programme, Saigon Co.op cut prices on thousands products before Tết at its outlets, with two or three promotions per day on almost all Tết products at Co.opmart and Co.opXtra.
During the Tết month, revenue and the numbers of shoppers at Co.opmart and Co.opXtra surged by three times compared to a normal month, with sales of some products such as processed and fresh food going up by four to five times.
Revenue from January 29 to February 2 (the second to sixth day of Tết) reached nearly VNĐ100 billion (US$4.4 million) despite opening only four hours a day.
Speaking at the meeting, Trần Vĩnh Tuyến, deputy chairman of the city People’s Committee, hailed efforts made by Saigon Co.op’s leaders and employees in better serving customer demand among city residents and localities that have Co.opmart stores. — VNS
