Christmas market sees weak purchasing power in City

Ho Chi Minh City is currently bustling with preparations for the Christmas festive season with many promotional programs being launched by stores; and trade centers, supermarkets, hotels, restaurants, shops, churches and homes already bedecked with lights and festive decorations.

Hundreds of different kinds of Christmas decorations are being seen at many supermarkets and gift shops, a large number of which have been made in Vietnam. What is noticeable from the previous Christmas was preference for Chinese rather than Vietnamese items. Thanks to lower prices and more pleasant designs, Vietnamese made items have gained ground.

However, just two weeks before Christmas, the markets are still dull with consumers showing weak purchasing power.

Christmas decorations at offices, hotels, restaurants, shops and cafés have decreased by 20-30 percent year-on-year. Bakeries have not launched new kinds of Christmas cakes, only Santa-shaped and stick-shaped cakes (Bouche) for VND200, 000 and VND500, 000 each.

Most supermarkets such as Metro, Big C, Co.op Mart, Maximark and trade centers are offering a discount of 5-40 percent on hundreds of goods.

Businesses hope that purchasing power will improve in the last week before Xmas. The economy is still unstable, and most families have tightened spending on Christmas and luxury goods.

Customers buying Christmas decorations in gift shops on Hai Ba Trung Street in District 1. (Photo: sggp)

By Hai Ha – Translated by Kim Khanh

Other news