According to the HCM City Department of Industry and Trade, leading domestic confectioners like Bibica, Kinh Do Mondelez and Topcake have basically completed their plans to stockpile goods with improved design and quality at various price points.
With consumers likely to tighten their purse strings amidst the ongoing economic crunch, they have focused more on launching products with attractive designs, good quality and reasonable prices that can serve as Tet gifts.
Most are competitively priced at VND200,000 (US$8.7) per item in the affordable segment and VND2-3 million (US$87-130) in the high-end segment.
According to the department, large retailers are likely to have two or three times their normal inventories though most are reluctant to announce their exact business plans.
Due to negative factors like the pandemic and floods in the central region, demand during the holiday might be lower than normal, many businesses feared.
They needed to utilise online channels and spend more on marketing and promotions, they said.
With Vietnam boasting a large internet community and a young, digital-savvy population, the domestic e-commerce market is buzzing with activity ahead of the festival.
As the nation modernises and integrates further, online shopping is set to become a habit for many facilitated by factors like diversification of services and products, quick transaction and payment and attractive promotions.
To better protect consumers’ health, authorities in HCM City have taken measures to ensure food safety and hygiene both at traditional markets and online.
The city has set up inspection teams to inspect safety and hygiene and prices.
The inspections will focus on production, processing and trading facilities of products such as meat, beverages, alcoholic drinks, and confectionery.
However, it is also incumbent on consumers to be alert when shopping and reject products of unknown origin.
If they end up buying counterfeit or poor quality goods, they need to notify the authorities.