Although it is only the end of August, many retailers and manufacturers have planned to prepare goods for the golden season at the end of the year with the desire to bring quality goods at good prices to consumers.
According to the General Statistics Office, in the first 7 months of 2024, the total retail sales of goods and consumer service revenue at current prices is estimated at 3,625.7 trillion VND, an increase of 8.71% over the same period last year (in the same period of 2023, it increased by 10.61% over the same period).
Retail sales of goods in the first 7 months of 2024 are estimated at VND 2,801.1 trillion, accounting for VND 77.31 trillion of the total and increasing by VND 7.41 trillion over the same period last year (excluding the price factor, which increased by VND 4.31 trillion). According to the latest statistics, total retail sales of goods and consumer service revenue have grown significantly over the same period last year.
However, it should be noted that part of this growth comes from price factors, due to the impact of inflation and increased production costs. This shows that the actual purchasing power of consumers still has certain limitations.
However, the end of the year is always the time when people tend to spend more on shopping and holidays. Realizing this, businesses have proactively developed detailed business plans, focusing on diversifying products, improving service quality and implementing attractive promotional programs.
To succeed during the holiday shopping season, businesses need to understand and capitalize on emerging consumer trends. Consumers are increasingly interested in environmentally friendly products, with clear origins and meeting personalization needs. In addition, online shopping experiences are becoming increasingly popular, requiring businesses to invest in e-commerce platforms and build a seamless and engaging online shopping experience.
With increasingly fierce competition, meeting the increasing demands of consumers is a big challenge for businesses. However, this is also an opportunity for businesses to demonstrate creativity, innovation and affirm their position in the market.
So what are the emerging consumer trends? How can businesses meet the growing demands of consumers?
Join the webinar What are retail businesses preparing for the "golden season" at the end of the year? to find answers from experts.
Webinar for business owners only retail business
Content shared at the webinar:
- Evaluate the retail market during Tet 2024. Identify prominent consumer trends and changes in consumer shopping behavior.
- Tet 2025 Forecast – Identify new business opportunities and challenges that retail businesses face in the upcoming Tet season.
- Effective business strategies through growth solutions and expert advice.
Retail industry experts shared at the event:
Information & Events:
Monitor Bizzi To quickly receive the latest information:
