HCMC's retail market increases strongly

SGGP
According to the Department of Industry and Trade of Ho Chi Minh City, since the beginning of this year, total goods retail sales and service revenues were estimated at nearly VND600 trillion, an increase of 12.2 percent over the same period last year while it was 12.5 percent last year.

HCMC's retail market increases strongly

Of which, goods retail sales was estimated at nearly VND400 trillion, up 13.8 percent. Economic growth rate and the consumer confidence index of the city in particular and of the country in general have always kept at high level, helping the city’s total goods retail sales and service revenues to post good growth. At the same time, it helped to stimulate domestic production, especially  for enterprises which produce essential consumer goods. Especially, since the beginning of this year, the city also recorded high growth in revenues of some electronics supermarket. For instance, the growth of Dien May Xanh was at more than 100 percent and Nguyen Kim at 78.5 percent over the same period last year.

The department said that growth tendency of retail market in the last months of this year will still remain positive. There has not been any negative factor so it is expected that total goods retail sales this year will possibly reach a growth of 13-14 percent, meeting this year’s plan.

Goods supply will also be plentiful with basically stable prices. There will not be a shortage of goods as well as high prices. Up to  now, the city has had 239 markets, 205 supermarkets, 46 trade centers and 2,360 convenience stores. Of which, domestic supermarket chains take the upper hand with 151 out of 205 supermarkets, accounting for 73.6 percent. Domestic convenience stores also accounted for more than 67 percent.

By Minh Xuan – Translated by Thuy Doan

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