More than 8,000 billion VND is the capital that businesses in Ho Chi Minh City have spent on preparing goods to stabilize the Tet market. Output accounts for 25-43% of market share.
During the peak period, Ho Chi Minh City’s priority is to avoid disruption of supply, stockpiling of goods or unreasonable price increases. More than VND8,000 billion is the capital that businesses in Ho Chi Minh City have spent on preparing goods to stabilize the Tet market . Output accounts for 25-43% of market share.
Prices in the price stabilization program are guaranteed to be 5% lower than market prices. Market management boards and distribution businesses said they have prepared response scenarios in case of fluctuations in goods prices in the days leading up to Tet.
Mr. Ngo Van Ha, Head of Ben Thanh Market Management Board, Ho Chi Minh City said: “People do not stockpile many goods. Now there are many suppliers, products ordered tonight will arrive tomorrow. The market operates until 9-10pm, and on the last nights it operates until midnight so that consumers can visit at any time and have products.”
“At present, we have not accepted any price increase for Tet products, especially confectionery products. This is also the company’s commitment,” said Mr. Nguyen Duc Toan – Commercial Director of MM Mega Market Vietnam.
According to the Ministry of Industry and Trade, the city has carefully prepared goods sources, ensured stable prices, and prioritized Vietnamese goods in the Tet basket . The functional sector will coordinate with businesses to have a plan to balance supply and demand, avoiding stockpiling of goods.
Ms. Phan Thi Thang – Deputy Minister of Industry and Trade said: “If there is a shortage of a certain item in a province or city, we will work with suppliers or neighboring provinces that have surplus goods to find a solution to coordinate. On the business side, they also have plans for surplus goods, used for production or cold storage, when goods are scarce, they also have solutions to store goods”.
At this time, purchasing power is growing as predicted by many distribution systems with an increase of 10-15% compared to the same period. Consumers are more optimistic in spending and shopping for Tet .