Further stabilizing market after Tet

According to statistics by the Ministry of Finance, the whole country’s purchasing power on the Tet (Lunar New Year) festival 2018 increased by 12%-15% and 10% compared to normal days and the Tet festival 2017, respectively.

Thanks to well carrying out tasks on ensuring goods origin, food safety-hygiene safe standards and stabilizing prices, big supermarkets and trade centers nationwide continued absorbing more customers on the Tet festival 2018.

Customers at Lotte Mart Binh Duong

According to functional agencies, the increase of purchasing power on the last Tet festival was mainly due to economy 2017 reaching growth, enterprises working effectively, low inflation and policies stabilizing the market. The Ministry of Finance said that during the 7-day Tet festival 2018, there were few price influences, due to abundant supply of commodities with stabilized prices plus supermarkets resuming work early.

In Binh Duong, representative of Co.opMart said that around 10,000 Tet gift baskets costing between VND800,000 and VND1.2million per basket were consumed every day before Tet. Whilst, purchasing power at Lotte Mart Binh Duong on this occasion also surged 35%-40% compared to normal days. The demand for shopping focused on fresh food such as meat, fish, seafood, fruits and vegetables as well as confectionary and canned food. Along this, there was a surge in the number of customers buying Tet flowers at province-based supermarkets.

Representative of province-based Big C supermarket chain said that the supermarket’s purchasing power from December 25 to 29 of lunar calendar increased by 100% against normal days, thanks to big promotional programs.

In order to further stabilize market prices in March and Q2, 2018, the Ministry of Finance has suggested ministries, sectors and localities to continue keeping watch on the situation of supply-demand and taking solutions to ensure a balance between supply and demand, especially for essential commodities at people’s demand for consumption after Tet…

Reported by Hong Thuan-Translated by K.T