Mid-Autumn Festival is approaching, moon cake prices have dropped sharply

In the days leading up to the Mid-Autumn Festival, the mooncake market in Da Nang is rather gloomy. Discount signs appear everywhere on the streets, from large stores to retail counters, but the number of customers is still very sparse.

Near the Mid-Autumn Festival, many mooncake shops still have plenty of stock.

For many years, moon cakes have always been a typical product, attracting consumers during this festival. However, in recent years, the difficult economic situation and changing consumer trends have made it difficult for bakeries to sell their products. Many brands have had to reduce prices by 30-50%, some even slash prices to the floor with buy 1 get 1 free to push inventory.

Mr. Huu Nhan, owner of a cake stall on Nguyen Tri Phuong Street, shared: "Every year at this time, we can't sell enough, but this year there are very few customers. There are a lot of cakes left over so we have to reduce the price sharply."

According to Mr. Huu Nhan, many families are now having to adjust their spending, prioritizing essential needs. The average price of moon cakes from major brands is often quite high, from 200,000 VND to more than 1 million VND/box, causing many consumers to consider carefully before buying.

Consumers consider carefully before buying.

Many consumers, especially young people, are tending towards handmade cakes or cakes from small retail establishments with more reasonable prices. These products are not only diverse in design and flavor but are also considered safe, containing no preservatives.

In addition, purchasing power has decreased due to some greedy traders selling cheap moon cakes of unknown origin. Recently, Da Nang City Police destroyed nearly 10,000 moon cakes of unknown origin in the city.

Many cake stalls hang promotional and discount signs to stimulate demand.

Besides moon cakes, many other gift products such as imported fruits and candies have replaced the exclusive position of moon cakes during the festival. This has significantly reduced the demand for moon cakes, especially in the high-end gift segment.

Ms. Vo Thi Thu Nhi (residing in Thanh Khe District, Da Nang City) shared: “With the economic situation this year still having many difficulties, I only decided to buy 1-2 moon cakes to enjoy during the holiday. The rest, I choose to buy fruit for the whole family to enjoy, both saving costs and ensuring health.”

Bakeries in Da Nang are hoping that the last days of the Mid-Autumn Festival will be filled with strong discounts and promotional programs to stimulate consumption. However, with the current situation, the moon cake market this year will find it difficult to achieve expected sales.

Source: https://congthuong.vn/da-nang-tet-trung-thu-can-ke-gia-banh-trung-thu-giam-manh-346190.html