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[Vietnam] Big sales stimulated consumption in HCMC, while it almost flat in HN

Vietnam is engaged in a new normal during the "With Corona" period. From November 15 to December 31 last year, Ho Chi Minh City held a government program for retailers called the "Intensive Year-End Sale" (Shopping Season 2021).

While in Vietnam, discounts of up to 50% are allowed on services and products, during this period, discounts of up to 100% are possible, allowing retailers to clear out their inventory and consumers to shop at lower prices.

E-commerce sites are active in spending on sales on once-a-month days (e.g., October 10). Other events such as Bachelor's Day (November 11), which originated in China, Black Friday (November 27), Christmas, and Tet sales, combined with the Tet sales season, are expected to further boost year-end spending.

Trends are also starting to emerge in the December 2021 consumption change scores (base value of 3.0) for each of the commercial categories. Spending on "travel and entertainment" jumped from 2.65 in November to 3.16, while spending on "fashion" increased from 2.97 in November to 3.15. Health care" reached a record high of 3.93, and by city, spending in Hanoi increased by only 0.12 points, while in Ho Chi Minh City it rose by 0.75 points.

The record high in "health care" suggests that people are becoming more and more aware of the need to protect themselves. Masks, disinfectant, vitamin C supplements, simple new corona test kits, and gargles became regular items in every household. Massage chairs, hand massagers, and home aerobics are also included in the health care category, and are expected to be on the list of "products that people will be happy to send" during the pre-Tet sales season.

Source: Monthly magazine ACCESS (January 2022)

Translated with AI Translator

  • Intage Inc

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    (Mr.) Masami Negishi

    He is the Managing Director of INTAGE VN. After taking charge of overseas research at INTAGE Japan, he was engaged in supporting INTAGE INDIA. After that, he was transferred to INTAGE VN, where he has been since November 2015. He has given many lectures and conference papers, and holds an MBA. For more information on the report, search "VIEVIEW" on the web service slideShare.
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  • Jan 21, 2022
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