Save over 60%
As of 2:00 pm on February 22, many food stalls at Tan Dinh Market (District 1) have closed down or put up signs for rent or relocation. Trying to attract more customers, Ms. Tran Thi Le Hong, the owner of Hong Ba Ly Fruit Stall, sadly admitted that after Tet, the number of customers has decreased by more than half. With fewer customers, there is also less shopping activity.
Tan Dinh Market vendors maintain their reputation and product quality. Photo: U.P
At Ba Chieu Market (Binh Thanh District), many pork stalls have plenty of stock even in the late afternoon, with only sellers present and no customers in sight. Mrs. Duong Mai (Stall 574) sighed and said that in the past, she used to sell hundreds of kilograms of pork, but now she only has 30 kilograms left and still couldn’t sell it all even after sitting the whole day. “Sales have been decreasing since before Tet, and after Tet, the decline has become even more pronounced. I’ve been selling at the market for over 30 years, and I am used to not selling much or making much profit despite the appearance of busy wholesale activities,” the vendor said.
Minh Tam, who sells fabric at Tan Binh Market (Tan Binh District), also shares a similar situation of “cleaning up in the morning and cleaning up again in the evening.” Although the market officially reopened from the sixth day after Tet, there have not been enough customers coming to shop in the past week. “If I don’t clean up my stall, I’m afraid the customers who are willing to shop will not come, but it’s also discouraging to clean up and do business when there is not much buying activity. I hope that after the first lunar month, the situation will improve,” Tam said.
Ms. Do Thuy Hoa, Head of the Management Board of Ba Chieu Market, admitted that post-Tet shopping demand has steeply declined by almost 60%. In addition to economic difficulties, people have just finished shopping for Tet and therefore have reduced their shopping needs. “Market vendors are performing at nearly 100%, with over 930 stalls. However, there are few customers inside the market, and the surrounding area is not crowded either. Difficulty with business is a common problem at markets in general, not just Ba Chieu Market,” Hoa said.
Mr. Nguyen Hoang Kieu, Head of the Management Board of Binh Thoi Market, also added: “Usually, the prices of goods, especially food, will increase after Tet. However, this year, it is the opposite. There is an abundant supply of goods, and prices are stable, but the market is lacking customers. In addition to weak purchasing power, almost 40% of the vendors have not resumed trading.”
Struggling to stay in the market
Mrs. Nguyen Thi Thoa, the owner of stalls 536 – 653 selling dry goods and candies at Tan Dinh Market, has been doing business here for 40 years. She admitted that she has never experienced such a significant decline in sales before. However, according to Thoa, longtime business owners will not give up on the market. “We know that the economy is difficult and people’s consumption capacity is limited, but because of our lives and our long-standing relationship with the market, vendors are all trying to persevere. Market vendors have received a “5-star” reputation from customers and sell their goods at the right prices. There are still some customers coming to buy. That is the motivation for vendors to try their best. I think this is a difficult time, but if each vendor makes a little effort, overcomes this period, and retains customers, they will keep the market alive,” Thoa sincerely shared.
The management board of Tan Dinh Market has implemented several measures to support vendors, such as free electricity for one month after Tet, connecting them with banks to provide low-cost loans, and giving biodegradable plastic bags to the stalls. “We are also trying to build a clean and safe market, where goods are priced transparently, and vendors are friendly and welcoming to both potential and existing customers, in order to attract more people to the market,” the representative said.
On February 22, Mr. Bui Ta Hoang Vu – Director of the Department of Industry and Trade of Ho Chi Minh City announced to the media about the business situation after Tet. He said that this year, prices did not increase as much as in previous years, and there was an abundant supply of goods. There were no shortages or price surges. Shopping demand decreased in some areas, but overall, trade increased by 10% in Ho Chi Minh City, with a significant increase in e-commerce. Market vendors not only sell directly but also sell online which has helped improve shopping activity.
Supermarkets increase post-Tet promotions
Many supermarkets have started offering deep discounts right after Tet to stimulate shopping demand. At GO! and Big C supermarkets, fresh meat and fish are discounted by 33%; fruits and vegetables are discounted by 28% and an additional 10% off in the morning; essential household items are discounted by nearly 50%; and beauty products are discounted by over 30%. Co.op Mart also offers discounts of 30% on various vegetarian and vegetable products. At Lotte Mart, vegetables nearing their expiration date or ripe fruits are displayed separately and discounted by 30-50%.
