In February, 10 out of 11 CPI commodity groups increased compared to the previous month, including: transport; housing, electricity, water, fuel and construction materials; beverages and tobacco; clothing, hats, footwear; appliances, household items; medicine and medical services; education; goods and other services.
The Lunar New Year of the Horse coincides with February this year, so the demand for food, drinks, food, and groceries is high, resulting in a 1.77% increase in the food and beverage market. The culture, entertainment, and tourism sector has also seen steady growth due to the start of the new year festival after Lunar New Year.
The average CPI of Hanoi for the first 2 months of 2024 increased by 5% compared to the same period last year; in which 8 out of 11 average CPI commodity groups increased, including: education increased by 38.33%; housing, electricity, water, fuel and construction materials increased by 5.24%; food and drink increased by 2.92%; beverages and tobacco increased by 2.43%; clothing, hats, footwear increased by 1.66%; medicine and medical services increased by 0.28%; transportation increased by 1.54%; goods and other services increased by 7.38%.
3 out of 11 average CPI commodity groups for the first 2 months of the year decreased compared to the same period, including: culture, entertainment and tourism decreased by 2.38%; postal and telecommunications decreased by 1.43%; appliances and household items decreased by 0.21%.
The average gold price index for the first 2 months of 2024 increased by 18.24% compared to the same period last year. The average US dollar price index for the first 2 months increased by 3.74% compared to the same period last year.
Ms. Tran Thi Phuong Lan, Director of the Hanoi Department of Industry and Trade, said that due to the forecast of increased shopping demand during the 2024 Lunar New Year, local production and business units have planned for production and supply for the past 3 months. Therefore, goods serving the Lunar New Year are abundant, diverse, and prices are stable, with no shortage of goods.
To promote sales during the Lunar New Year, retail businesses have diversified their methods of selling (direct selling, through e-commerce channels via websites, social media platforms) and collaborated with delivery units to attract shoppers. In the 2024 Lunar New Year, retail revenue of commercial enterprises in the area increased on average by 7% compared to the Quy Mao 2023 Lunar New Year; of which online sales accounted for about 7-10% of total sales revenue. The number of online orders increased on average by 15% (in large distribution systems, the increase was about 40-50%) compared to normal months. The percentage of customers paying online without cash accounted for 50-60% in large distribution systems and 30-40% in small convenience stores.
According to Ms. Tran Thi Phuong Lan, after the Lunar New Year, units still ensure a reasonable stock of goods ready to serve the people. Most supermarkets and convenience stores have opened early with many promotional programs and lucky money for customers. Goods at sales counters are still plentiful, diverse, and prices are stable compared to before the Lunar New Year, meeting the post-Tet shopping needs of the people.
For markets in the area, in February on the days leading up to Tet, the volume of fresh food arriving at the markets increased by 20% and the number of shoppers increased on average by 30-35% compared to regular days. The prices of goods at the market are stable, with no sudden price increases. At traditional markets, cashless payments have become popular and are chosen by businesses and consumers.
During February, the number of orders for e-commerce platforms grew by about 15-20% for Tet gift baskets and beverages, and by 50% for home decor and food items.
In general, the total value of goods produced and businesses operating in the area supplied to the market in February reached about VND 37.5 trillion.
