Purchasing power decreased by 30 - 40% compared to last year.
In Can Tho City, at this time, Tet goods have been sold all over the streets. According to some traders, for traditional cakes and jams, prices have not fluctuated but purchasing power has decreased compared to last year.
Mr. Nguyen Thanh Tam (Ninh Kieu district, Can Tho city) said: "Most customers who come to buy often choose traditional cakes and gifts. For about a week now, I have sold 20 Tet gift baskets, mainly with affordable prices from 100,000 - 200,000 VND. Current purchasing power has decreased by about 30 - 40% compared to last year."
According to Mr. Tam, the difficult economic situation and affected income are also the reasons why consumers are saving money and changing their shopping habits. Accordingly, limited shopping makes Mr. Tam's business more difficult.
Ms. Nguyen Tam Nhu (Cai Rang District, Can Tho City) said: "The prices at my store have not increased much this year. Currently, items such as cakes, jelly candies, tea... are priced from a few dozen to under 200,000 VND. However, the number of people coming to buy is quite small."
As for the Tet decoration items of Ms. Pham Thi Trang (Ninh Kieu district, Can Tho city), it is more exciting. According to Ms. Trang, due to the trend of looking back to the old Tet, the decorations are popular.
"This year, the designs are quite diverse and more eye-catching, and the number of customers coming to buy is also quite stable. The most expensive products in my store are decorative lanterns (with and without LED lights) priced from a few tens of thousands to 1 million VND/pair. Decals with the shape of dragons and gods of wealth are the best-selling products in the store, priced from a few tens of thousands to under 100,000 VND/product," Ms. Trang informed.
Hope to get back capital
Although the Tet decoration business is somewhat better than the remaining items, Ms. Trang still struggles because of the difficult economic situation, and the business is also subject to competition from e-commerce platforms, so sales are still slow.
"Compared to the confectionery category, my sales are a little better, but compared to last year, the stores are only 85-90% different. Now consumers also like to shop online, order and have it delivered, so business is difficult," said Ms. Trang.
The cost of importing decorative items for Ms. Trang's store is about several tens of millions of dong. To recover the capital and have money to spend during Tet, Ms. Trang is forced to sell 3/4 of the imported goods.
Ms. Trang said: "I import bamboo blinds, lanterns, firecrackers, flowers such as ivy, lavender,... for about 20 million VND. Depending on the product, I make a profit of a few thousand to a few tens of thousands of VND. Therefore, I only hope that sales increase near Tet so that I can recover my capital."
"The amount of money I spent to import Tet cakes to sell is also tens of millions of dong, not a small amount. I am waiting until closer to Tet to see if the situation improves, just hoping that closer to Tet, more customers will come to buy so I can get my capital back. If sales continue to be slow like this, my family will celebrate Tet like normal days," said Nguyen Thanh Tam (Ninh Kieu district, Can Tho city).
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