Purchasing power increases 20 percent in supermarkets during holiday

Supermarkets in Ho Chi Minh City have reported a 20 percent year on year increase of purchasing power during the last three day New Year holiday.

Customers at a Big C supermarket in HCMC (Photo: SGGP)

Director of Big C’s PR division Ho Quoc Nguyen said that buying power was up in all commodities with some outweighing such as food, confectionary, beverage, sugar, cooking oil, rice and msg regular crystal.

The supermarket chain has pledged not to hike prices from now until the lunar New Year (Tet) which falls on January 28-30. At present, Tet goods have been shelved at Big C supermarkets with the volume up 20-30 percent over the same period last year.

Saigon Co.op supermarket chain saw the number of customers double to triple over normal. The most purchased items comprise fresh and processed food, cosmetics and clothes.

Large trade centers namely Vincom, Parkson, Aeon, Crescent-mall, SC VivoCity and Mega Mall were packed with customers during the holiday.

Businesses said that the high purchasing power was partly thanks to promotional programs with the discount of up to 50 percent on thousands of items.

Traditional markets have recorded good consumption of food, clothes and footwear items with prices having been relatively stable.

Businesses forecast that the purchasing power will continue surging from now until the lunar New Year and skyrocket in two weeks before Tet.

By Hai Ha – Translated by Hai Mien

Other news

Most view

Defense Ministry to restructure military businesses

Defense Ministry to restructure military businesses

The Ministry of Defense will hold 100 percent state capital at 17 military companies on behalf of the state by 2020 while the remaining companies will be equitized, restructured or dissolved if they are under performance.
 

Banking-finance

VAMC buys nearly VND21 trillion deep debts

Vietnam Asset Management Company (VAMC) purchased VND20,995 billion (US$924 million) of deep debts from credit institutions during the first nine months this year with the price of VND20,619 billion.

Economy

APEC finance and bank deputies meet in Hoi An

Disaster risk financing and insurance was one of the important topics that finance officials and bank deputies of 21 APEC economies are discussing at a meeting that began in Hoi An City on Friday.
 

Self - introduction

Stock market

180m shares start trading on UPCoM this week

Nearly 180 million shares of four companies will start trading on the Unlisted Public Company Market (UPCoM) on the Hà Nội Stock Exchange on October 16-20.