Domestic shopping demand predicted to strongly rebound

Saturday, 2022-06-18 15:05:47
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NDO/VNA – The domestic shopping demand is forecast to recover and gradually increase as Vietnam has recorded a relatively high vaccine coverage which helps ensure safety for consumers in shopping activities.

According to the Ministry of Industry and Trade, the resumption of tourism will stimulate the demand for shopping and consumption, while the outlook for domestic consumption will be brighter thanks to the recovery of production, the return to work of workers, and increased income.

The ministry said it will continue to closely monitor the supply and demand, the prices of essential commodities to take timely regulatory measures; closely coordinate with ministries and sectors in price management to control prices and prevent hoarding, speculation and price manipulation activities.

It will coordinate with the industry and trade departments of localities in the work, making reasonable recommendations and proposals to stabilise the market.

The nation's total revenue from retail sales of goods and services in May reached 477.3 trillion VND (20.5 billion USD), up 4.2 percent month-on-month, and 22.6 percent higher than that of the same period last year.

The figure increased 9.7 percent year-on-year to 2,257 trillion VND in the first five months of the year.

Experts attributed the positive results to the abundance of goods and rising purchase power.