With the holiday falling in mid-February, retailers have entered the traditional peak period, but demand has yet to build at the pace many stores typically expect.
Major supermarket chains have expanded Tet-themed displays at store entrances and rolled out a steady stream of price cuts, bundled offers and loyalty incentives. However, shoppers are increasingly timing purchases around major promotions rather than buying early.
Cautious spending has extended beyond non-essential items to everyday goods. Thu Huong, a resident of Hanoi’s Cau Giay Ward, said her family removed alcohol from its Tet gift baskets this year, choosing locally made sweets instead to reduce costs.
“Appearance matters less now. We prioritise quality and reasonable prices,” she said, adding that even modest price rises compared with last year had pushed her to actively seek discounts and loyalty rewards.
Hoang Nam, from Hanoi’s Dong Da Ward, said his family’s Tet gift choices had shifted towards health-focused products rather than flashy packaging, with discounted imported fruits increasingly popular.
Traditional markets have also seen thinner crowds, prompting traders to scale back inventories, with many expecting demand to rise from the 23rd day of the final lunar month, when households begin shopping for Kitchen Gods offerings.
In response to weaker demand, retailers have placed greater emphasis on price stabilisation and wider promotions. The GO! supermarket chain has introduced a zero-margin programme on fresh pork from January 29 to February 12, covering popular cuts including belly, shoulder, ham and chops.
Supermarkets have also introduced mini-games, in-store activities and bundled deals to boost engagement during the year-end rush, with promotions focused on fresh food, household essentials and fast-moving consumer goods.
WinMart said it had increased inventories by about 25 per cent to meet an expected 20-25 per cent rise in peak-season demand, expanding stocks of confectionery, beverages and staples to ensure supply stability.
Despite a seasonal uptick, the retailer said Tet consumption this year reflects greater caution, with shoppers favouring familiar brands, consistent quality and reasonable prices.
