Goods to serve Tet holiday abundant, prices stable

Sai Gon Giai Phong Newspaper’s reporter had an interview with Director of the Ho Chi Minh City Department of Industry and Trade Bui Ta Hoang Vu on monitoring the quality of goods and stabilizing the market, ensuring that consumers, especially disadvantaged people, can enjoy the Tet shopping.

According to Director of the Ho Chi Minh City Department of Industry and Trade Bui Ta Hoang Vu, the preparation of essential goods for the 2025 Tet holiday has been directed by the Ho Chi Minh City People's Committee early. The market stabilization program for Tet has also been planned since April 2024, with the participation of numerous businesses and supply chains.

The amount of goods for market stabilization this lunar New Year is expected to increase by 4 percent compared to the previous year. Commodities under the price stabilization program are sold at supermarkets and convenience stores at a price that is at least 5 percent lower than similar goods of the same specifications and quality available in the market. Businesses have prepared Tet goods worth about VND23,000 billion (US$905 million), including VND10,000 billion (US$393.4 million) for the price stabilization program.

In August and September, the Ho Chi Minh City Department of Industry and Trade, in collaboration with relevant agencies and businesses, organized 15 mobile markets under the market stabilization program in districts across the city, including export processing zones and industrial parks. The annual program has been implemented for several years with the participation of many businesses and supermarket chains, such as Saigon Co.op, Satra, MM Mega Market, and Cholimex, offering commodities at very affordable prices, with discount up to 80 percent–90 percent.

Besides stabilizing the prices of essential goods, the city industry and trade sector has also coordinated with localities to develop a sustainable supply chain, covering raw materials, production, transportation, and distribution. A notable example is the supply and demand connection program held in September, which attracted over 40 provinces and cities across the country, featuring a diverse range of goods.

Currently, the Ho Chi Minh City Department of Industry and Trade is implementing the second phase of the "Shopping Season 2024" campaign, which runs from mid-November to the end of December 2024. From December 2024 to January 2025, the department will coordinate with other units to organize mobile sales stabilizing the market across the city.

In addition, businesses proactively organize hundreds of mobile fairs in suburban areas with a high concentration of low-income workers. Stabilized-price goods account for 21 percent to 32 percent of the market during regular months and 24 percent to 41 percent during the peak Tet season, ensuring the ability to effectively control and regulate the market.

Ho Chi Minh City has a number of nearly 11,000 subsidized goods that are widely distributed throughout the city points of sale, 224 markets, 205 supermarkets, 46 shopping malls, and about 2,300 convenience stores. The dense network of distribution and the proactive and active approach of the city’s industry and trade help goods to be distributed throughout the city.

The Ho Chi Minh City Department of Industry and Trade regularly inspects prices and quality of goods to crack down on counterfeit and smuggled commodities, not just on the occasion of Tet.

The Department of Industry and Trade of the city has just suggested the People's Committees of districts and Thu Duc City monitor the market and the prices of essential food items, submit reports promptly, and propose solutions for solving the shortage of goods.

Additionally, the department has requested relevant units to strengthen inspections and control measures to ensure compliance with government regulations on the prices of goods at distribution systems, traditional markets, supermarkets, shopping centers, and convenience stores.

Businesses participating in the market stabilization program must comply with the program’s regulations and proactively manage their supply sources. Modern distribution systems need to forecast market demand and create plans for stockpiling market-stabilizing goods to ensure an adequate supply of essential goods.

It is estimated that the people of Ho Chi Minh City consume about 11,000 tons of various types of food every day. However, the city can only supply 10 percent of meat and nearly five percent of egg demand. The remaining goods come from other provinces and are imported. It shows the massive demand for goods in a major city, and the purchasing power is even greater during the Tet holiday.

According to the Ho Chi Minh City Statistics Office, the total revenue of retail sales of goods and consumer services in the first 10 months of 2024 was estimated at VND979,052, presenting an increase of 10.1 percent compared to the same period last year. Of this figure, retail sales of goods reached VND462,390 trillion, up 10.4 percent compared to 2023.

These numbers indicate that the economic growth rate and consumer confidence index of Ho Chi Minh City remain high. Therefore, it is projected that purchasing power during the Tet holiday 2025 will increase by about 15 percent compared to the Tet holiday 2024.

Some supermarkets in Ho Chi Minh City, such as GO!, BigC, and MM Mega Market, are offering Tet gift baskets priced from VND200,000 to VND800,000, which are inclusive of various sweets and cakes, fruits, and local specialties.