Third day of holiday sees strong surge in purchasing power
On August 31, purchasing power in HCMC rose significantly as major retailers launched robust discount programs to attract eager consumers and stimulate continuous economic demand.
On the third day of the holiday, HCMC experienced a notable increase in purchasing power as retailers rolled out robust discount programs to entice shoppers and maintain economic momentum. At Emart Phan Van Tri in An Nhon Ward, customers rushed to shop for food, household items, and clothing. Ms. Le Ngoc Anh, a Hoc Mon Commune resident, noted that her family’s decision to stay in the city allowed them to shop more freely, saving over VND300,000 (US$12) on their trip.
Many stores offered discounts ranging from 30 percent to 70 percent, depending on the brand and product. Fresh, processed, and beverage foods, as well as essential consumer goods, saw numerous promotional offers, including buy one get one free, buy two get one free, savings combos, and voucher or coupon delivery. Major chains like Saigon Co.op, GO!, AEON, MM Mega Market, and Bach Hoa Xanh amplified their preferential programs, providing customers with more choices within a reasonable budget.
AEON Vietnam extended its operating hours to accommodate shoppers, and commercial centers buzzed with families spending their afternoons and evenings combining dining, shopping, and entertainment. Foot traffic during the three-day holiday surged by 70 percent to 150 percent, with some locations doubling their normal volume, leading to a 15 percent to 40 percent increase in purchasing power.
Retailers consistently introduced discount programs, savings combos, and sales to support consumers and maintain purchasing power. This effort extended beyond large chains, with wholesale markets Binh Dien, Hoc Mon, and Thu Duc regulating goods supply and quality to ensure reasonable prices. The HCMC Department of Industry and Trade plans to build on this five-year roadmap, focusing on demand-stimulation activities like Supply-Demand Connection and Shopping Season to create a seamless shopping experience.
Deputy Director Nguyen Nguyen Phuong highlighted that ongoing discount and promotion programs in the final months of the year aim to sustain customer flow and stimulate spending, reviving purchasing power. Simultaneously, HCMC maintains a market stabilization program for 24 essential commodity groups, offering retail prices at least 5 percent lower than the general market and actively connecting manufacturers and distribution networks to reduce costs and minimize price hikes.
Written by urgent.news from SGGP English Edition Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
