Consumer demand drives retail growth

Deep discounts. Loyalty points. Home delivery. These are among the measures being used by this supermarket to stimulate consumer spending. Sales did rise sharply during the recent five-day National Day holidays. Tourists, particularly foreign, contributed to the increase.

Nguyen Thi Bich Ngoc, Director, BRG Mart Supermarket said: During the National Day holidays, our sales rose by 30%. This is a very positive sign and shows that consumer demand remains strong. We expect growth of 20 to 25% during the year-end. We are now stocking up on a wider range of goods to meet demand during the year-end shopping season.

According to the National Statistics Office, travel and tourism revenues rose by 17.1% year on year in the first eight months.

Nhu Thi Ngan, General Director, Hanoi Tourism Investment Joint Stock Company said: During a trip, tourists may decide to spend more on services at their destinations. Their original travel budget may not be much, but by the end of the trip, their total spending can be much higher.

Stronger demand is expected to support the circulation of goods, business activity, and overall demand. The retail market is therefore expected to remain an important driver of economic growth in the final four months of the year.

Do Bao Ngoc, Deputy General Director, Kirin Securities said: Tax reductions can help support consumer demand while tourism and international visitors are also driving growth. These policies should continue through the rest of the year. Better infrastructure and smoother movement of goods will also be important in maintaining the retail sector’s growth momentum.

Alongside measures to stimulate demand, authorities should also strengthen inspections of product origin and quality, food safety and price listing. This will help protect consumers, maintain a healthy business environment, and support market stability.