Hanoi (VNS/VNA) - The domestic market is experiencing sluggish demand foressential Tet (LunarNew Year) goods as the country's largest traditional holiday nears.

In some traditional markets such as Xom, Ha Dong, Nghia Tan, Trung Van, andLong Bien wholesale market in the capital city of Hanoi, Tet goods like driedbamboo shoots and vermicelli, mushrooms and processed foods are abundant andthe selling prices are stable. However, demand for Tet goods in these markets is slower compared tothe same period last year.

Thuy Cuong, a trader at Long Bien market, told Cong an nhan dan Online (Public Security News)that every year around this time, wholesalers usually buy large quantities ofgoods to reserve for Tet. Thisyear, few of them have come even though the selling prices of goods are stable,as the demand remains low.

Nguyen Thanh, another trader in Ha Dong district said the supply ofagricultural products is now quite abundant and their prices remain stable, butso far not many consumers have come to her shop.

Thanh said she hoped that demand would soon increase.

Meanwhile, Nguyen Ngoc Yen who sells food products for Tet in Hai Ba Trung district,said she has not had large orders this year despite a stable number ofwholesale customers.

Yen said that every year, she receives an order for beef cuts and coconut candyworth over 100 million VND (over 4,000 USD), but this year customers only askfor prices and do not place orders, as they are surveying local demand.

Amid sluggish demand in the local market, supermarkets are offering promotionalcampaigns to attract more customers.

A representative of the WinCommerce retail system said that WinMartsupermarkets and WinMart /WIN stores nationwide have put many Tet goods such asdry goods, candy, beer, wine, and soft drinks on the shelves at preferentialprices.

Similarly, BigC is offering a 50% discount on personal care products, beautycare, household appliances, fresh food, dry food and spices, according to arepresentative of the Central Retail system.

Tran Thi Phuong Lan, Acting Director of the Hanoi Department ofIndustry and Trade, said that Tet goodsat wholesale markets or big supermarkets are quite abundant and prices arestable.

Ministries, branches and localities have been implementing activities toconnect supply and demand and facilitate the consumption of goods, especiallyVietnamese-made ones, during the Tet holiday.

The country's revenue from retail trade and services totalled an estimated 256billion USD last year, rising 9.6% year-on-year, lower than the 20% growth seenin 2022.

If the price factor was excluded, the 2023 growth would be 7.1%, less than halfof last year’s 15.8% increase, the General Statistics Office said.

Retail sales revenue in 2023 was estimated at 200 billion USD or 78% of thetotal and up 8.6% year-on-year. Of these, food and foodstuff revenue increased11.7% and sales of household appliances rose 7.5% over last year.

Revenue from accommodation and eating out topped 27.7 billion USD, making up10.8% of the total and surging 14.7% year-on-year. Meanwhile, revenue fromtravel services increased significantly to 1.56 billion USD, up 52.5%.

The GSO said revenue from services hit 27.2 billion USD, up 10.4% year-on-year./.