The Mid-Autumn Festival in Hanoi this year witnessed a rather subdued market for mooncakes. Despite discounts being offered everywhere, from large stores to small retail stalls, customer footfall remained sparse across the city.
For many years, mooncakes have been a signature item during this festival, attracting consumers. However, in recent times, economic hardships and shifting consumption trends have made it challenging for bakeries to sell their products.
Mooncake stalls on Le Quang Dao Street in Nam Tu Liem District were deserted despite offering significant discounts on premium mooncakes.
Many brands had to slash prices by 30-50%, and some even offered a buy-one-get-one-free deal to clear their inventory.
Despite the early displays and various promotions, the abundance of leftover mooncakes has left many businesses disheartened.
Many shops offered steep discounts but still couldn’t attract buyers.
“This year, I ordered a smaller quantity of mooncakes for sale compared to previous years due to the sluggish market and economic challenges,” shared Ms. Linh, the owner of several mooncake stalls in An Khanh, Hoai Duc. “Even after the Mid-Autumn Festival, I had to clear my inventory at a loss due to low demand.”
Despite prices dropping to two-thirds of their pre-festival rates, residents showed little interest.
The mooncakes have been on display for over a month, but sales remain sluggish.
“At the beginning of the season, a single-yolk mooncake weighing 210 grams was priced at around VND 80,000, while a double-yolk mooncake of the same weight cost about VND 100,000. Mooncakes with two yolks and weighing 250 grams or more were priced between VND 120,000 and VND 170,000,” said Mr. Minh, a mooncake seller on Me Tri Street in Nam Tu Liem. “Now, towards the end of the season, we’re offering discounts, so a single-yolk mooncake is VND 30,000, and a double-yolk one is VND 40,000.”
According to many sellers, mooncake consumption this year has significantly decreased compared to last year due to ongoing economic difficulties. Additionally, Typhoon Yagi, which hit northern Vietnam, and its subsequent impact, led to the cancellation of Mid-Autumn Festival events as funds were redirected to support affected communities. Moreover, companies cutting back on mooncake gifts for their employees also contributed to the reduced demand for mooncakes among certain brands…
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This Mid-Autumn Festival, mooncake vendors witnessed a decline in foot traffic compared to previous years. Despite the early displays and attractive promotions, the build-up to the festival saw an abundance of unsold mooncakes, leaving many businesses disheartened.
