Lunar New Year sees abundant supply of goods and stable prices

During the Lunar New Year, known locally as Tet, localities were proactive in managing market prices and ensuring the supply of goods. Compared to 2022, the amount of goods in stock increased by 10% to 30%, with the supply of goods according to each group of essential goods meeting people's consumption needs.

Supermarkets and trade centres continued to be popular places chosen by consumers, whilst some supermarkets remained open during Tet, meaning the supply of goods to the market was not interrupted and prices were kept stable.

At retail systems such as Co.opmart, Co.opFood, Co.opXtra, GO!, Big C, Tops Market, and LOTTE Mart, people were able to go shopping during the initial days of the New Year.

It is expected that purchasing power will continue to increase as supermarkets have offered promotions in a bid to stimulate demand. For example, the Co.opmart system has launched an array of promotional programmes until the end of February 8 as a way of helping customers spend both reasonably and economically.

All groups of products have promotions on them, such as confectionery, milk and dairy products, fruit and vegetables, utensils, cosmetics, as well as fashion and apparel products.

Most wet markets operated as normal, with the prices of some vegetables increasing slightly in some markets, although the supply of fruit and vegetables remained abundant, thus fully meeting the consumption needs of local people.

It is forecast that in the next days, commodity prices will return to stable. Management agencies are therefore continuing to closely monitor market supply and demand, as well as prices to be proactive in taking market stabilisation measures. This is addition to ensuring a balance between supply and demand, meaning that there is no shortage of goods or disruption of goods sources, thus causing an abrupt increase in prices, especially for fresh food products such as pork, poultry, and seafood.