“Affordable Hotpot (VND 39,000 – 69,000) Takes Ho Chi Minh City by Storm”

Around 6 PM on a weekend at a hotpot restaurant on Cao Văn Lầu Street (Bình Tây Ward), all tables were occupied by customers.

The menu prominently displayed: “Catfish Hotpot, Salmon Hotpot, Red Tilapia Hotpot… 39,000 VND,” but included a small note that not everyone noticed: “Price excludes toppings.”

When customers add meat, vegetables, noodles, or seafood, the total cost for a small hotpot serving two can skyrocket to hundreds of thousands of dong.

Ms. Hoa, owner of Lẩu cá 39K on Nguyễn Văn Luông Street (Bình Phú Ward), explained that the 39,000 VND price is merely a tactic to attract customers. “It’s a price that makes everyone want to try the restaurant. If they wish, customers can order additional toppings,” she said.

Many customers admitted they visited out of curiosity or to “check-in for the experience.” “I came for the 39,000 VND price, but ended up spending over 200,000 VND for two. It was fun, but slightly disappointing,” shared a young patron.

These “ultra-cheap” hotpot restaurants share common traits: large capacity, quick customer turnover, and a noisy atmosphere.

Beyond hotpot, the market is witnessing a surge in “affordable dining experiences” – from 7,000 VND bubble tea and 19,000 VND tofu vermicelli to 39,000 VND and 69,000 VND hotpots. This low-cost business model reflects consumers’ desire to try new dishes, chase trends, and seek shockingly low prices.

This marketing strategy, known as “price baiting,” involves offering extremely low prices for basic products while profiting from add-ons. However, it risks customer dissatisfaction if they feel misled, potentially driving them away.

Speaking with Người Lao Động newspaper, Mr. Đỗ Duy Thanh, Director of FnB Director Consulting and Horeca Business School, believes this model showcases the creativity and adaptability of Vietnam’s F&B industry amid economic challenges.

The creativity lies in how “ultra-cheap” products generate buzz, enticing people to try, photograph, and share on social media. Meanwhile, customers may order extra items, boosting profits and allowing businesses to study consumer behavior and optimize operations. Additionally, 69,000 VND hotpots have low production costs, primarily consisting of broth, minimal vegetables, and simple toppings.

“However, the line between ‘smart strategy’ and ‘business illusion’ is razor-thin. While low prices can quickly elevate a brand, only genuine value ensures long-term survival,” Mr. Thanh cautioned.

Furthermore, ultra-low prices may raise food safety concerns. When prices are at or below cost, the focus shifts from taste to ingredient sourcing and legal compliance.

A survey of restaurants in Ho Chi Minh City revealed that most diners are willing to spend 60,000–120,000 VND per meal if quality and experience align.

According to B&Company market research, the average spending per meal in Ho Chi Minh City is approximately 69,599 VND.

Many restaurant owners acknowledge that in today’s competitive market, success hinges not on shock prices but on food quality, ambiance, and professional service.