VietNamNet Bridge – Importers and distributors, anticipating the low market demand, have all said they do not intend to import consumer goods in big quantity for the Tet sale.
Nguyen Anh Hoa, General Director of Citimart, an importer and distributor, said Citimart, which has learnt the lesson from the mid-autumn festival sale season, would only import consumer goods at a reasonable level just enough to satisfy the domestic demand.
Hoa said the sweets imports would be the same as the last year’s, which would be sold mostly to those, who buy give to others as presents. The import volume of these products would not decrease sharply, because the demand is expected to be firmly high.
Giving gifts to parents, relatives and bosses is a tradition; therefore, though consumers have to fasten their belt in the current difficulties, they would still spend money to buy luxury goods.
However, Hoa said that Citimart would have to think carefully about what products to import. The products must be high end goods, but have reasonable prices.
Analysts all have predicted that the demand for consumer goods would decrease this Tet because of the current big economic difficulties. Meanwhile, people nowadays do not have the habit of storing food for Tet days any more, but they tend to spend time traveling on the holiday. Therefore, it would be a wise move not to order big imports.
“Everything related to the import, distribution for Tet holiday has been completed. There is no big change this year in comparison with the previous years,” Hoa said.
According to Nguyen Anh Hong, General Director of Maximark, which displays big volumes of consumer imports, after considering the quotations from suppliers, one can see that there would not be big imports and there would not be many choices for clients.
Hong also said that importers this year tend to be choosier than they were in the previous years. They would not strive to import many kinds of products, but would focus on high grade products sourced from Europe.
She has noted that suppliers have become more cautious in ordering imports in order to avoid loss.
“They urged us to make orders very soon, in September and October. They would only import consumer goods after they are sure that the imports could be sold to retailers,” she said.
Nguyen Muoi, the owner of the shop specializing in retailing import sweets on Nguyen Thong street in HCM City, also said that the purchasing power would be low this year, but there would still be some new kinds of products to attract buyers.
When asked about the retail prices, distributors have said the prices would increase, but just slightly.
A report by the General Customs Department showed that consumer goods are not the major group of import items at this moment, even though the Tet holiday nears.
It was computers, electronic parts, mobile phones which saw the imports increasing most sharply if compared with the last month and the same period of the last year.
The import turnover of computers and computer parts was 1.39 billion dollars in October, up by 16.4 percent over the previous month. Meanwhile, Vietnam imported 522 million dollars worth of mobile phones and accessories, an increase of 20 percent over September. The imports were mainly sourced from China.
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd (SBC), Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Healthcare and Life Science with expertise in ASEAN. Since we are currently changing the platform of www.yourvietnamexpert.com, if any request, please, contact directly Dr Christian SIODMAK, business strategist, owner and CEO of SBC at email@example.com. Many thanks.