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The Magic of Saigon’s Retail Renaissance: Unlocking a 30-40% Sales Surge

10 January, 2025

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Shoppers opt for Tet purchases at Co.op Mart supermarket. (Photo: Vu Sinh/VNA)

Observations in Ho Chi Minh City at this time indicate a surge in retail sales, with a 30-40% increase compared to previous months.

As the Western New Year coincides with the peak season for Tet shopping, most distribution and retail channels have been strengthening their supply sources, stabilizing prices, and controlling the quality of goods.

Specifically, modern distribution channels in Ho Chi Minh City, such as the retail system of the Saigon Co.op, have been providing an abundant supply of goods, diverse promotional activities, and experiential shopping for the 2025 Tet holiday. Saigon Co.op’s Tet promotion, themed “Come to Co.op to Bring Tet Home,” has been offering discounts on 3,500 Tet products for 59 consecutive days, from December 1, 2024, to January 28, 2025. This has resulted in a 30-40% increase in sales compared to previous months.

According to Mr. Nguyen Ngoc Thang, Deputy General Director of Saigon Co.op, the retailer closely monitors market trends to flexibly adapt to the rising number of shoppers as the Tet market heats up.

Saigon Co.op has also enhanced quality control, especially for perishable food and seasonal Tet items, giving customers peace of mind during their Tet shopping.

Mr. Thang emphasized that to ensure stable supply and price control for the 2025 Tet holiday, Saigon Co.op proactively implemented plans and reserved a total inventory of over 12,000 tons. The budget prioritized nine market stabilization commodity groups, with a 30-50% increase compared to regular months, totaling VND 10,000 billion. The remaining budget was allocated for other food and non-food items and Tet specialties.

Similarly, the SATRA Corporation has prepared sufficient supplies for the Tet holiday and aims to prevent price hikes during the festive season. They have also readied plans to tightly control the quality of goods, refraining from stockpiling and trading goods of unknown origin or those that fail to meet food safety standards.

As of now, SATRA, together with its member companies and partners, has secured enough goods for Tet, with a supply capacity of about 3,550 tons for the holiday month. This amount translates to a 29.4% increase compared to regular months and a 10% rise compared to the same period last year, with a total value of nearly VND 500 billion.

Essential consumer goods are heavily discounted at Ho Chi Minh City’s retail channels. (Photo: My Phuong/VNA)

Regarding food safety and traceability, SATRA has intensified inspections of food safety indicators for groups of goods commonly consumed during Tet, including meat and meat products, eggs, seafood, vegetables, and cakes.

In addition, SATRA has strengthened its monitoring activities to promptly detect, rectify, and handle products that fail to meet food safety regulations. They ensure that all goods traded have a clear origin and are safely consumed.

Mr. Nguyen Tuan, SATRA’s Deputy General Director, shared that during Tet, SATRA will officially inaugurate and put into operation the SATRA Vo Van Kiet Trading Center in District 6, Ho Chi Minh City.

This new center will be the only “one-stop-shopping” destination on Vo Van Kiet Boulevard, serving the shopping, entertainment, and recreational needs of residents in District 6 and neighboring districts like District 8, 5, 11, Binh Tan, and Tan Phu during this Tet holiday season.

Regarding the 2025 Tet market, a report by the Ho Chi Minh City Department of Industry and Trade showed that they coordinated with the People’s Committees of districts and Thu Duc City to implement multiple solutions. They urged wholesale markets, traditional markets, supermarket systems, and convenience stores to closely monitor and grasp the market situation.

In parallel, all retail outlets need to forecast demand, prepare supply sources, closely monitor commodity prices at the source, and strictly comply with regulations on price listing and the origin of goods. They also ensure food safety.

In an interview with the Vietnam News Agency, Mr. Nguyen Nguyen Phuong, Deputy Director of the Ho Chi Minh City Department of Industry and Trade, said that they had requested supermarkets and convenience stores to increase their workforce and operational capacity. They also extended business hours to ensure the supply of goods during the Tet holiday and resolutely avoided empty shelves and customer congestion.

Moreover, to reduce the shopping and stockpiling pressure on consumers before Tet, most distribution systems plan to remain open almost throughout the holiday, closing only on the first day of the Lunar New Year. Some convenience store chains, such as Family Mart, GS25, and Kingfood Mart, will operate continuously during Tet.

Regarding preparations for the Lunar New Year of the Tiger in 2025, enterprises participating in the market stabilization program have prepared a capital source of more than VND 22,000 billion. Of this, over VND 8,000 billion is allocated for staple food and essential goods to serve the market.

The production volume of essential goods prepared accounts for 25-43% of the market share. The enterprises are always ready to increase production if necessary and organize mobile sales to handle abnormal fluctuations and local shortages.

My Phuong

– 14:08 31/12/2024