Hanoi (VNA) – As there are only few days left before the Lunar New Year (Tet)holidays, purchasing power is rising sharply and retailers are ready to serve.

Despitesome previous forecasts of modest consumption growth ahead of the biggesttraditional festival due to economic difficulties, purchasing power recorded atretail networks, traditional markets, as well as e-marketplaces has beensurging, reported Dau tu (Vietnam Investment Review).

PaulLe, Vice Chairman of Central Group – owner of the supermarket chains of GO!,BigC, and Tops Market, said his firm has geared up a wide range of goods with discountedprices and many promotional programmes. In particular, it has prepared morethan 3,000 essential goods such as confectionery, candied fruit, tea, coffee, rice,sugar, and cooking oil for Tet. The number of essential products stockpiled toserve Tet consumption demand increased by over 20% from a year earlier.

Manyretailers said the number of consumers coming to their outlets has surged three- four times compared to normal days. Sales of confectionery, candied fruit, andfresh food have risen considerably.

Supermarketshave readied abundant supply and launched a wide range of promotions to caterfor Tet shopping demand.

TheHanoi Department of Industry and Trade said the value of goods prepared for thisyear’s Tet in the city is estimated at 40.9 trillion VND (1.7 billion USD), up10% year on year. Thirty-two units have engaged in a programme on supplyingessential goods with stable prices at over 14,530 outlets across the city.

Thevolume of goods for sale at retail outlets has climbed 15 - 20%, and up to 90%of the supplies are Vietnamese products, it noted.

LeViet Nga, Deputy Director of the Domestic Market Department under the Ministryof Industry and Trade, said the ministry has coordinated with businesses toincrease the goods of the “One Commune, One Product” programme at distributionsystems in order to raise the share of domestic items in consumers’ Tetshopping baskets.

Togear up for Tet, WinCommerce – owner of the Winmart retail chain – worked withsuppliers three months ago to ensure quality and stable prices.

Besides,Winmart supermarkets will serve consumers until 11pm each day and until thenoon of the 30th day of the last month in the Year of the Cat (February9). They will reopen on the fourth day of the Year of the Dragon (February 13),said Deputy General Director of WinCommerce Nguyen Tien Dung.

Meanwhile,the Hanoi Trade Joint Stock Corporation (Hapro) has stockpiled 1 trillion VNDworth of goods for Tet, including essential products with stable prices likerice, pork, chicken, eggs, aquatic products, cooking oil, vegetables, processedfood, and confectionery.

ItsDeputy General Director Do Tue Tam said Hapro built the 2024 Tet business planearly last year. It also has strict examination process to guarantee productquality.

Thougheconomic difficulties remain, total retail sales of goods and consumer servicerevenue in January still went up 8.1% yearon year to stand at 524.1 trillion VND as consumers have been in the mood to shop for Tet, according to the GeneralStatistics Office./.