A notable trend is that today, customers, especially the younger generation, must go hand in hand with entertainment experiences, leading to Tet fairs, exhibitions, meetings with celebrities, etc. being prioritized by businesses.

There have been significant changes in the mindset and shopping behavior of consumers following the economic hardships. As consumer habits for Tet 2025 evolve rapidly and become increasingly unpredictable, the market for goods will be directly impacted, as noted in a recent seminar.

According to the latest research from Kantar Worldpanel Vietnam, post-COVID-19, the optimism regarding the future economic situation among Vietnamese consumers reached 88% (in Q3 2022). However, this index sharply declined from Q4 2022 through the end of 2023 due to economic weakening, global conflicts, rising prices, and mass layoffs. Although Vietnam’s GDP showed a recovery growth of 7.4% in Q3 2024, leading to a slight increase in optimism at the beginning of 2024, it fell back to 69% by Q3. This indicates that consumer sentiment has become unstable and less optimistic than before.

Consequently, consumers are increasingly inclined to simplify Tet procedures, with Tet gifts becoming more practical, health-oriented, and budget-friendly.

Photo: Report from Kantar.

Mrs. Vu Kim Hanh, Chairwoman of the High-Quality Vietnamese Products Business Association, noted that alongside changing consumer trends, Vietnamese businesses are facing significant pressure to both lower prices and invest heavily in free shipping services to retain customers.

Additionally, they must contend with fierce competition from low-priced Chinese goods. In reality, distinguishing between Vietnamese products and imported goods (especially from China) is not easy. Chinese products have penetrated deeply into all channels to win over Vietnamese consumers.

“For many Vietnamese consumers today, to win them over, low prices remain the primary requirement. Besides the challenge of competition in controlling prices and adjusting sales conditions, businesses must also pay attention to aligning closely with market demands at each stage. At the same time, they need to identify competitive niches and unique product attributes that reflect local characteristics to stay competitive”, she said.

From the business perspective, stakeholders ranging from production, distribution supermarkets to payment support services have already developed plans to welcome Tet 2025. A notable trend today is that customers, especially the younger generation, seek shopping experiences that are paired with entertainment, leading to Tet of fairs, exhibitions, and celebrity meet-and-greet events … prioritized by businesses.

For instance, last weekend, a series of digital payment events combined with a shopping festival took place for the first time at Nguyen Hue Walking Street (in downtown Ho Chi Minh City), attracting over 7,000 visitors and shoppers on its opening day alone. This program also supports the government’s strategy to promote cashless payments, where all shopping and entertainment activities at the event utilized QR code payment methods.

Similarly, continuing from their Christmas and year-end celebration plans, in addition to promotions and decorations to enhance customer experiences …, Fahasa recently collaborated with newly crowned Miss Vietnam Nguyen Cao Ky Duyen for book signing events to attract direct shoppers.

Photo: Miss Nguyen Cao Ky Duyen signing books during the year-end shopping season at Fahasa.

Or with supermarket systems, sharing with us, WinMart representative forecasts a 20% increase in purchasing power from now until Tet, the chain has accordingly increased the supply of goods to meet year-end consumer demand while offering big promotions, many products up to 50%.

“To meet the shopping needs of consumers, especially focusing on fresh products and essential foods, the retail chain has proactively cooperated closely with suppliers, ensuring prices and sources of goods in the system are always stable.

At the same time, this is also the year to evaluate the 10-year development journey, WinCommerce (the unit operating the WinMart supermarket system and WinMart+/WiN stores) will launch the biggest promotion program of the year”, stated the representative.

As for Saigon Co.op, this chain expects Tet At Ty 2025 sales to increase by about 5% over the same period. Not only discounting, capturing recent consumer experience trends, at 800 points of sale of Saigon Co.op including Co.opmart, Co.opXtra, Co.op Food, Co.op Smile, Finelife, Cheers, Sense City, Sense market… the system said to invest in building a traditional Tet space with a 3-region Tet market, OCOP booths of provinces and cities, regional specialties.

“To ensure the quality of food hygiene and safety of Tet goods, Saigon Co.op increases the frequency of checking goods sold in the system by 2-3 times compared to normal days. Saigon Co.op also recruits more than 3,500 seasonal workers in the positions of: sales staff, cashiers, marketers, gift wrappers, security guards, warehouse assistants, home delivery… to serve customers quickly”, a representative of Saigon Co.op shared more.