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.