Hà Nội Department of Industry and Trade's inspection team checks goods in Big C Supermarket. — VNS Photo Tố Như

Tố Như

HÀ NỘI — The trade sector and businesses in Hà Nội have promoted co-operation and connection with other provinces and cities to meet rising consumer demand at the end of 2023 and during the Lunar New Year (Tết) holiday.

Lê Mạnh Phong, CEO of Big C and Go! Belonging to the Central Retail Vietnam Group, one of the biggest distribution businesses, said that to prepare goods for the 2024 Tết season, his company connected with manufacturers and suppliers several months ago to confirm product sources and prices.

The business has prepared a large number of goods and the prices of the vast majority of items will not change, said Phong.

“Our business focuses on essential goods that will be sold for Tết,” Phong said.

Not only Big C but also other major suppliers have given quite conservative market forecasts, he said.

"Sales growth of 15 – 20 per cent during Tết season will be difficult to achieve, but 7 – 10 per cent is completely feasible," he said.

It is predicted that this will be a difficult Tết season, so consumers will pay more attention to their purchasing budget.

Customers will focus on the items with moderate prices. Besides, they will be attracted with promotion programmes.

“This is not the first year we have gone through a difficult Tết. In 2021 and 2022, we faced many difficulties due to the COVID-19 pandemic. However, during Tết season, demand still grows. The difference is that the shopping behaviour has changed,” he said.

“This year, the weather is quite favourable, so the crop and livestock production increases, many agricultural products are available, pork and vegetables have stable prices. We will have a Tết holiday without worrying about shortages of goods with high prices," he added.

To ensure the supply of goods for the people during 2024 New Year and Tết holiday, the Hà Nội Department of Industry and Trade has been actively co-ordinating with relevant departments, branches and localities to launch market stabilisation programmes, thereby building a plan to meet Tết demand with 11 essential items valued over VNĐ40 trillion (US$1.65 million), an increase of about 10 per cent over Tết 2023.

Currently, all essential goods and items with high demand during Tết are being hurriedly prepared by manufacturing enterprises and delivered to distribution systems.

Distributors have negotiated with manufacturing businesses about goods quantities and prices from three to even six months ago to fully prepare supplies and reserves according to the direction of the department to meet consumer needs during the Tết season.

In particular, many businesses still have higher reserves than the level assigned by the department and the municipal authority, to enable dealing with emergency situations such as epidemic or force majeure situations that may occur.

This year, due to many difficulties in world and domestic economic conditions, people tend to tighten spending and only buy essential goods for the festive season.

Therefore, to stimulate consumer demand, the Hà Nội Department of Industry and Trade has advised the municipal authority to offer promotion programmes.

Businesses proactively offer attractive discount programmes and connect with manufacturers to reduce costs and offer promotional programmes from production to distribution facilities, serving the needs of customers and stimulating people to "open their wallets" as well.

Hà Nội has more than 10.7 million people living, studying and working, and the demand for safe agricultural and food products is huge.

Therefore, the city actively co-ordinates with provinces and cities to deploy practical solutions such as goods promotion and introduction in fairs and exhibitions to bring agricultural products and regional specialties to the people of the capital, contributing to stabilising the commodity market.

Acting Director of the Hà Nội Department of Industry and Trade Trần Thị Phương Lan said that in the coming time, the department will continue to co-operate with relevant units to implement solutions to stimulate domestic demand, and increase total retail sales of goods and consumer service revenue of the city.

State management of food safety and trade connection and regional linkage activities will be further accelerated, Lan said.

Thus, with a variety of solutions in preparing diverse sources of goods, people in the capital city will feel secure in shopping to meet their family's daily needs during this Lunar New Year. — VNS