Consumer Spending in Ho Chi Minh City Sees 10% Increase During 4-Day Holiday

Despite heavy rain, the⁣ 4-day holiday in Ho Chi Minh City saw a significant increase ​in consumer spending, with many supermarkets, shops, and restaurants reporting a 10% rise in⁢ revenue compared to the same period last year.

Loosening Up Spending

The Saigon Co.op‌ supermarket system, including Co.opmart, Co.opXtra, and Co.op Food, reported a notable increase in sales during the holiday. The average value of the shopping basket ranged from 400,000 to ​500,000 VND, with a focus on promotional items such as essential fresh foods, dried foods, soft drinks,‌ fruits, and cosmetics.

Co.opmarts​ and Co.opXtras located in high-rise‍ apartment buildings, shopping malls, and tourist cities saw⁣ a ​high increase‌ in customers. The number of online orders‍ received by the unit also doubled compared to normal days, ⁢according to Saigon Co.op’s marketing ⁢department.

Supermarket Chains ‍See 10% Increase in Sales

Large supermarket chains such as Co.opmart, Co.opXtra, Aeon, LOTTE Mart, Emart,⁣ MM Mega Market, and Winmart reported a 10%⁢ increase in​ sales during the September 2 ‌holiday. Some supermarkets even ⁤recorded a 15%-20% increase in sales compared to the same period in 2023, while the number of customers increased by only 5%-7%.

According to a representative of a large supermarket‌ chain, ⁣the​ heavy rain ​affected the number of‍ purchases, but the average shopping bill increased compared to normal days and the same period last year, allowing the supermarket to achieve its plan.

High-End Food Products See Increased Purchasing Power

Mr. Nguyen Tan Hoa, in charge of marketing for‌ the Organic Food ⁣system, reported⁤ that high-end food products‌ saw a significant increase in purchasing power before and on the ⁤first day of the holiday, with ⁤sales 1.5 ⁢times higher than normal days. ‍However, sales on the remaining days were lower than normal⁣ due​ to customers traveling ⁣or returning to ‍their hometowns.

Despite this, the amount of money on each customer’s‌ bill increased, with an average of 700,000 to 800,000 VND per ⁣bill. Organic Food also reported a significant recovery in consumer purchasing power before ⁣the holiday, with consumers no longer tightening their spending as before.

Positive Signals for the Economy

The⁢ increase in consumer spending during the holiday ‌is seen as a positive signal⁢ for the economy, with many believing that this year’s Tet season will⁢ be prosperous. Organic Food is ⁤promoting regional fruit products, such⁢ as mangosteen, rambutan, and longan, which are selling well. Consumers are willing to pay‌ more for delicious, safe domestic fruits, indicating⁢ a shift in consumer behavior.

In the Hanoi market, ⁢purchasing power also increased significantly during the holidays, with Big C Thang Long Supermarket reporting revenue equivalent to that of every Saturday and Sunday.