Commodity market remains stable
According to the latest report of the Ministry of Industry and Trade, the commodity market situation has not fluctuated abnormally recently. Food and foodstuffs have abundant supply, prices are relatively stable. Some energy fuel group items have prices that fluctuate according to world prices such as gasoline, LPG.
Domestic consumption and production demand often increases in the last months of the year, along with the effectiveness of solutions to promote domestic consumption and stimulate consumption in the last months of the year, contributing to the growth of the service industry.
To remove difficulties for domestic goods manufacturing enterprises, on August 27, 2024, the Government issued Directive No. 29/CT-TTg on stimulating consumption, supporting production, business and developing the domestic market. To implement the above Directive, the Ministry of Industry and Trade issued Decision No. 2888/QD-BCT dated November 1, 2024 on promulgating the Plan of the Industry and Trade sector to implement Directive No. 29/CT-TTg.
Accordingly, units under the Ministry of Industry and Trade are actively and synchronously implementing solutions and policies to promptly remove difficulties and improve competitiveness for businesses; promoting domestic trade promotion activities, programs connecting supply and demand of goods, promotional activities to stimulate consumption; supporting people and businesses to apply digital technology to connect and expand the market for domestically produced products... gradually promoting the sustainable development of the domestic market.
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| Businesses prepare for year-end supply of goods (Photo: Kim Ngan) |
Therefore, the total retail sales of goods and consumer services revenue in November 2024 is estimated to increase by 0.8% over the previous month and by 8.8% over the same period last year. In the first 11 months of 2024, the total retail sales of goods and consumer services revenue at current prices is estimated to reach VND 5,822.3 trillion, up 8.8% over the same period last year (the same period in 2023 increased by 9.7%), if excluding the price factor, it increased by 5.8% (the same period in 2023 increased by 7.0%).
In particular, retail sales of goods in the first 11 months of 2024 are estimated at VND 4,487.3 trillion, accounting for 77.1% of the total and increasing by 8.1% over the same period last year. Of which, the group of food and foodstuffs increased by 10.8%; household appliances, tools and equipment increased by 5.9%; garments increased by 8.1%; means of transport (excluding cars) increased by 7.4%; cultural and educational items increased by 5.6%. In particular, some localities had high retail sales of goods compared to the same period last year such as: Hai Phong increased by 9.5%; Quang Ninh increased by 9.3%; Da Nang increased by 7.4%; Hanoi increased by 6.5%; Ho Chi Minh City increased by 5.2%.
No shortage of goods, price fever during Tet
To prepare the supply of goods in the last months of the year and the Lunar New Year when people's consumption demand increases, the Ministry of Industry and Trade issued Directive No. 13/CT-BCT dated October 30, 2023 on implementing solutions to ensure supply-demand balance and market stabilization at the end of 2023 and the Lunar New Year of Giap Thin 2024.
Implementing the direction of the Ministry of Industry and Trade, according to information from localities, up to now, some localities such as Hanoi, Ho Chi Minh City, Dong Nai, Ninh Thuan ... have issued plans to implement the market stabilization program in the last months of the year and the Lunar New Year 2024. In which, the task is assigned to enterprises producing and distributing goods to proactively prepare goods to serve the consumption needs of people in the province, organize fixed and mobile sales points in combination with the program of bringing Vietnamese goods to rural areas, the market stabilization program to bring goods to all people at stable prices. It is expected that this year's purchasing power may increase by more than 10% compared to the same period last year.
The supply of essential goods has also been proactively prepared by businesses very early with the amount of stock increased by 10-25% compared to the same period. In the context of economic difficulties, to stimulate domestic consumption, many businesses have planned to implement promotional programs, discounting many essential consumer products, especially in the month before Tet. The Department of Industry and Trade of localities such as Hanoi and Ho Chi Minh City has also made efforts to work with many units, based on the main goals: stabilizing the market, organizing promotional programs, connecting supply and demand, paying special attention to regional linkages - coordinating with other provinces and cities to create a stable source of goods in quantity, ensuring the best quality to serve the great demand of the city.
Speaking to reporters from Cong Thuong Newspaper, a representative of Winmart supermarket said that in order to prepare for the peak season of the Lunar New Year and meet the increasingly diverse shopping needs of customers, the retail chain WinMart/WinMart+/WiN has worked with suppliers 2 to 3 months before Tet to increase stockpiles of goods by 20% compared to the same period, to avoid shortages of goods or sudden price increases.
In addition, the supermarket chain also continuously and proactively recruits additional staff for positions such as cashiers and sales staff to ensure customer service needs are met, especially during the holidays.
In terms of operations, to ensure that goods are always ready to serve consumers, the WinMart/WinMart+/WiN retail chain has applied AI to the goods/transportation management system to optimize the import-export-inventory process, minimize waste, ensure continuous supply and transport goods to supermarkets and stores. In addition, the entire WinMart/WinMart+/WiN system has deployed cashless payment methods, including QR code scanning integrated with banks, helping customers shop more conveniently and easily.
“Regarding the operating hours for serving customers during Tet: The entire system will operate until 12 noon on the 29th of Tet and reopen from the 4th day of Tet. We also adjust the opening hours flexibly to suit the shopping needs of each area and each store model” – said the supermarket representative. In addition, this retail channel also deploys the form of shopping via the website https://winmart.vn/ to bring customers a convenient experience.
Mr. Nguyen Ngoc Thang - Deputy General Director of Saigon Co.op shared that Co.op has prepared about 10,000 billion VND of Tet goods, an increase of 20-50% depending on the product group compared to the normal business month. Since the middle of this year, Saigon Co.op has stockpiled essential goods to serve people 3 months before, during and after the Lunar New Year 2025 as well as stabilize market prices during the peak period at the end of the year.
Notably, near Tet, Co.opmart supermarkets will organize more mobile shipments to remote areas, areas affected by storms and floods... to serve people to have a full and prosperous Tet.
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