Ho Chi Minh City’s total retail sales of goods and consumer services revenue reached over 366.94 trillion VND (14.44 billion USD) in the first four months of 2024, up 12% year on year, the municipal Department of Industry and Trade told a press conference on May 3.
The growth was driven by strong sales of various goods, with over 177 trillion VND coming from retail sales alone, marking a 10.5% increase year-on-year. The January-April breakdown showed a 15.5% rise in sales in January, followed by 8.7% in February, 9.7% in March, and a significant 13.8% jump in April.
Demand surged for several product categories, including food and groceries up 8.6%, household appliances and equipment 20.5%, wood and construction materials 29.9%, and apparel 3.4%. The city's consumer market saw a surge in activity with new businesses entering the commercial and service sectors, offering diverse sales channels with promotions and discounts.
Commercial and service firms actively worked to stabilise prices and stimulate consumer spending, leading to a cooling trend in the prices of several commodity groups, particularly food and household items.
Deputy Director of the municipal Department of Industry and Trade Nguyen Nguyen Phuong said in order to further stimulate consumer demand and maintain growth momentum in the total retail sales, the department will launch various trade promotion programmes throughout this year, which will connect supply and demand between the city and other localities through trade fairs, campaigns and forums.
