HCMC’s Tet retail sales at five-year high

HCMC – Total revenue from retail sales of goods and services during the Lunar New Year (Tet) holiday reached a five-year high of around VND57 trillion, data of the HCMC Department of Industry and Trade showed.

Consumption grew strongly during the period from January 14 (the 23rd of the 12th lunar month) to January 18 (the 27th of the 12th lunar month), the department told a press conference on February 2.

Prices of consumer goods shot up shortly before the short of the Tet holiday, which lasted from January 20 to 26.

Many stores in the city were not as busy as in previous years as many customers chose online shopping.

Most businesses in HCMC have returned to normal operations after Tet, with over 95% of factory employees getting back to work.

The business community is facing lots of difficulties, including a sharp fall in orders from customers and tough access to new loans.