Hand-pounded lemon tea is on the rise, coin cake shop liquidates machinery

Business follows the "trend"

Previously selling "trendy" items such as soursop tea, salted coffee, and now coin cakes, Mr. Dang Huu Minh's store (District 3) is liquidating machinery and preparing to switch to another business direction due to lack of customers.

Coin cake stalls appear on many streets in Ho Chi Minh City. Photo: Ngoc Le

“At the beginning of the business, there were a lot of customers but after a few days, the popularity decreased. Because after trying the food, customers said they would look for other, more unique dishes. I am planning to sell the coin cake maker for 3 million VND and give away the cake recipe,” said Mr. Minh.

According to Lao Dong, along streets such as Nguyen Van Bao (Go Vap District), Pham Van Dong (Thu Duc City)... or Ho Thi Ky food street, there are dozens of stalls selling mobile coin cakes with prices of about 25,000 - 30,000 VND/piece.

However, hand-pounded lemon tea is currently "on the rise", becoming the most popular product at the moment, causing many coin bakeries to be sluggish, even having to liquidate their machines.

“To start a coin cake business, I had to spend nearly 20 million VND to buy machinery, trucks, ingredients, etc. At first, because it was a "trendy" item, there were many customers. Now there are fewer customers, and there are days when I don't sell enough to buy ingredients" - Ms. Le Hong Ha, owner of a coin cake stall on 3/2 Street (District 10) shared.

Previously, following the trend, there was mangosteen chicken salad, soursop tea, salted coffee... The common point of these dishes and drinks is that they all "bloom early, fade late" - exist for a while.

The impact of trendy business

Associate Professor Dr. Nguyen Duc Loc - Director of the Institute for Life and Society Research shared his opinion that doing business following trends is consistent with the term "skimming". "This layer of cream is very thin and fragile, easily changing when there is market impact", Mr. Loc affirmed.

On social networks, many posts appeared with the content of liquidating coin cake making machines. Photo: screenshot

In addition, on the current social platform, there is a new business trend called affiliate marketing. That means the seller does not know and does not need to know the product he is selling, he only uses skills to convince the buyer.

Mr. Loc added that at first glance, this will not have any impact, but in the long run, economically and socially, it will be difficult to form a true business class.

In the current market context, the trend of trading according to trends is considered by some experts to be meaningless and fragmented, but it has the advantage of being very agile.

Experts also believe that we should aim for green consumption to build a green economy in the future.

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