Following the festive season, retail outlets across Vietnam have reopened their doors, leading to lively consumer activity and promising shopping trends. From February 6, 2025, major retail chains have commenced their regular hours, providing consumers with not only ample products but also enticing promotions to encourage purchases after the Tet holiday.
Among the notable players, Saigon Co.op has stocked its shelves with 10 tons of free-range chicken and various meats to meet the rising demand for fresh and desirable goods. Other items heavily marketed include tropical fruits like fresh coconuts, jackfruit, and mangoes. With prices stabilized from the outset, Co.opmart and Co.opXtra are offering discounts ranging from 10% to 30% to create a buoyant shopping environment.
Central Retail Vietnam has also launched its own wave of promotional campaigns, including the "Imported Goods Festival" and other enticing discounts. These programs offer price reductions of up to 40% on selected items, aimed at encouraging local consumers to shop for key products during the Lunar New Year. At the GO! supermarket chain, which is also under Central Retail, significant discounts have been extended to fresh produce, including vegetables, tofu, and fruits intended to cater to those celebrating the first full moon of the lunar calendar.
Further data from the General Statistics Office reveals impressive figures for January 2025, indicating heightened consumer spending with retail sales estimated at approximately 573.3 trillion VND, marking a 9.5% increase year-over-year. Breaking this down, retail revenue alone reached around 441.4 trillion VND, reflecting an 8.6% uptick, driven largely by strong demand for staple foods.
Promotional activity doesn’t stop there; major supermarket chains such as MM Mega Market and LOTTE Mart have also rolled out their campaigns, not only targeting high foot traffic but also appealing to various customer segments through perks like free goods for larger purchases. The promotional offerings create significant interest among consumers who are poised to take advantage of the deals.
Despite the excitement surrounding promotions, many consumers are now focusing on purchasing clean and sustainable products. Cheng Quang Khoi, Marketing Director at MM Mega Market, highlights the shifting consumer mindset: "Người tiêu dùng vẫn trong xu hướng tìm kiếm các ưu đãi, giảm giá và sự tiện lợi trong thanh toán." His insights reveal how consumers gravitate toward promotional opportunities, indicating their preference for discounts and quality products.
Interestingly, the promotional rate of merchandise during Tet reached record highs, directly influencing shopping preferences and future retail strategies. "Tỉ lệ hàng hóa khuyến mãi tăng cao kỷ lục trong giỏ hàng khách mua sắm trong Tết Nguyên đán vừa rồi," Khoi explains, emphasizing the need to continuously adapt and attract customers through thoughtful promotional campaigns.
This trend of heightened consumer interest is solidified by recent surveys from NielsenIQ, indicating increased spending on fresh foods and household items, with expectations to climb 21.3% and 12.2% respectively this year. Conversely, spending on luxury items is anticipated to decline by about 21%, as rising living costs and inflation shape consumer decisions.
Indeed, retail strategies must adapt to encompass the changing behaviors of consumers. The economic pressures of inflation, coupled with rising commodity prices, are compelling half of Vietnam's consumers to prioritize spending on food and basic essentials. Retailers have begun to actively adjust their marketing strategies to reflect this shift, doubling down on discounts and optimizing their service efficiencies to cater to the demands of more budget-conscious shoppers.
Overall, the new shopping environment post-Tet not only reflects immediate consumer preferences but signifies longer-term shifts toward sustainability and value-based shopping habits. Retailers are now poised to innovate and explore untapped opportunities to align with these changing trends throughout the year, ensuring they remain relevant and responsive to the needs of the Vietnamese consumer.