As the purchasing power of households is forecast to significantly increase in late 2023, manufacturing businesses and distributors are gearing up preparation for Tet in a bid to ensure an adequate supply of essential goods, stabilise the market, and meet the needs of locals.

The amount of Tet goods is prepared by units and distributors very abundantly and diversely with stable prices. IN PHOTO: Shoppers at the GO! Danang. Photo: VAN HOANG

Enterprises meet people's Tet demand for essential goods

Currently, many small traders, businesses, and distributors across the city have begun preparing goods to serve the 2024 Lunar New Year market.

Mrs. Truong Thi Ly, a small trader selling local specialties and dried seafood at the Con Market, said that people's purchasing power this year is not as strong as in previous years because Vietnamese consumers are spending less on shopping and eating out as they tighten their spending amid rising inflation and unemployment.

“I and other small traders at the market are considering the market situation and demand before deciding to import goods. In the immediate future, I only import enough goods to avoid product backlog" she added.

Meanwhile, retailers and distributors have planned to prepare supplies of goods many months in advance.

Mr. Phan Thong, Director of the Co.opmart Da Nang supermarket, predicted that people's shopping needs at the end of the year and Tet holiday 2024 will increase but not sharply compared to the same period in 2023. Customers mainly focus on such essential items as meat of all kinds, agricultural products, spices, dried goods, melon seeds, candy and drinks.

As for Tet 2024, the supermarket has stockpiled more than 20 tonnes of meat of all kinds; 172 tonnes of vegetables, tubers and fruits; 25 tonnes of rice and sticky rice; 181 tonnes of cakes and candy; 3.3 tonnes of jam; 1 tonne of melon seeds; 26,000 barrels of beer and soft drinks; and 13,500 boxes of instant noodles. The amount of goods on display will be continuously replenished by the supermarket, preventing shortages or out-of-stock situations.

Mrs. Vo Thi Thu Thuy, Director of the GO! supermarket, informed that, since September, her supermarket has worked with suppliers to prepare goods to serve people's needs during the upcoming Tet.

Big brands plan to deploy many different programmes to promote Tet products at the supermarket. GO! has increased its stockpiles of necessary food and foodstuff by 35% compared to normal days.

“We are working hard with our partners and suppliers to bring quality products to consumers at the best prices so that everyone and every home can have a prosperous and happy Tet. Although the economy is still facing many difficulties, the MT (Modern Trade) distribution channel at the end of the year and forthcoming Lunar New Year still grows strongly because of price stability, food hygiene and quality" Mrs. Thuy identified.

Market stabilisation, goods inspection and supervision

According to Mr. Nguyen Huu Hanh, Deputy Director of the municipal Department of Industry and Trade, the department has prepared a plan to ensure the supply of commodities and stabilise prices of essential products for New Year and Lunar New Year 2024.

The unit has coordinated with localities to carry out trade promotion programmes, and supply and demand connection activities, to support the consumption of safe food products, regional specialties, and create a source of Tet goods. This helps promote the implementation of the 'Vietnamese people prioritize using Vietnamese goods' campaign and fairs, as well as stimulate consumer demand, he noted.

From now until the end of the year, the Department of Industry and Trade plans to organise a number of events, such as a cashless payment market combined with the launch of the Viet Nam Online Shopping Day - Online Friday with a scale of 50 booths from December 1 - 3; the month of promotion to stimulate shopping demand in Da Nang from December 4 - February 4; the programme to promote OCOP and featured products from December 5 - 7; and the Spring Fair 2024 with 250 booths from January 23 - 28.

Mr. Pham Ngoc Son, Director of the city’s Market Management Department, said that the unit has developed and issued a peak plan to combat smuggling, trade fraud and counterfeit goods in the last months of 2023, and before, during and after Tet 2024.

As planned, from November 15, 2023 to February 29, 2024, the Market Management Department will inspect more than 200 units in the city, with a focus on strictly implementing the city's rules on displaying the prices of products, and selling them at the prices displayed; preventing goods speculation and hoarding, and unreasonable price increases; and strengthening inspection of compliance with legal regulations on goods quality management and technical regulations for food.

Reporting by VAN HOANG - Translating by M.DUNG