HCM City Consumer Market Thrives During Holiday Period

The HCM City, Day, May, Day Department of Industry and Trade reported that the consumer market in HCM City remained stable during the Reunification Day and May Day holidays from April 27 to May 1. Despite the ongoing economic challenges, the city experienced no shortages or unexpected price surges during the five-day holiday period.

Why this matters: The stability of the consumer market in HCM City has significant implications for the overall economy, as it indicates a degree of resilience in the face of challenges. This can have a positive impact on consumer confidence and spending habits, which can in turn influence economic growth.

Supermarkets and shopping malls saw a significant boost in customer traffic, with a 100-200% increase compared to regular days. Sales of vital goods and promotional items also witnessed substantial growth. Saigon Co.op, a major retailer in the city, reported a 20% increase in the number of shoppers and a 40% rise in purchases during the holidays.

The growing popularity of online shopping was evident as Saigon Co.op's online platform, Co.op Online, recorded a 50% increase in sales in April compared to previous months. This trend highlights the shifting consumer preferences towards convenient and contactless shopping options.

Retailers noted that while the economy still faces difficulties, consumers are being cautious with their spending and focusing on staple goods and discounted items. Nguyễn Ngọc Thắng, Co.opmart's operations director and Saigon Co.op's marketing director, observed that"sales of products like soft and energy drinks and electrolytes rose by about 30% in April, while sales of OCOP products increased by up to 50%."

Lê Hữu Tình, senior marketing manager of Thiso Retail Co., Ltd. (Emart), reported that fresh foods, fruits, and vegetables were the top sellers during the holidays. This indicates a growing consumer preference for healthy and fresh produce.

To attract customers and boost sales, supermarkets and firms participating in the city's market stabilisation programme launched various promotions and discounts. Saigon Co.op, for instance, offered discounts ranging from 35-50% on over 3,500 products between April 25 and May 15 across all its retail chains.

The stable consumer market and surge in sales during the Reunification Day and May Day holidays demonstrate the resilience of HCM City's retail sector. Retailers continue to adapt to the changing consumer preferences and economic challenges, offering promotions and focusing on staple goods to meet the needs of cautious shoppers.

Key Takeaways

• HCM City's consumer market remained stable during Reunification Day and May Day holidays.
• Supermarkets saw 100-200% increase in customer traffic, with sales of vital goods and promotions rising.
• Online shopping grew 50% in April, with consumers preferring convenient and contactless options.
• Consumers focused on staple goods and discounted items, with sales of healthy produce increasing.
• Retailers adapted with promotions and discounts, demonstrating resilience in the retail sector.