Gold and dollar prices flactuating, people still do not go Christmas shopping

Christmas comes in only two weeks, and the market has been warming up. However, many people still hesitate to go Christmas shopping because the prices have been increasing in accordance with the dollar and gold

Not many new products, prices up

The souvenir shops on Hang Ma, Hang Luoc and Luong Van Can in Hanoi began selling the products for Christmas holiday in early November. However, it seems that the products are not diversified and there are not many new ones this year.

“The products are nearly the same as last year. However, there are some new things for young buyers,” Thanh, the owner of a shop on Hang Luoc street, said.

He said that the prices of products are 20-30 percent higher than last year. An 1.8 metre pine tree, for example, is priced at 500,0000-650,000 dong, while a bigger tree, about three metres is 1.5 million dong.

Also according to Thanh, people now tend to buy pine trees to decorate the trees themselves instead of buying decorated trees. It is because people want to decorate the trees as they want. Besides, this way, they can save money.

Trang, the owner of a shop on Hang Ma street, said that most of the customers purchase the products at medium price levels. The demand for luxurious products is very low.

Market still quiet because the gold and dollar prices flactuation

The number of customers remains modest these days. Thuy, the owner of Hong Minh Shop on Hang Ma street said that the market is still not bustling, because the prices have increased sharply by 20-30 percent. The main buyers are companies or hotels.

Minh Hang, who works at a company on Hai Ba Trung street, said that everything has become expensive now. A small Santa Claus costs 3000-5000 dong more. “I have to go shopping early, because I am afraid the prices may go up further later,” she said.

Huy Thanh, whom VietNamNet’s reporters met when he was shopping, related that the “gold storm” has made everything more expensive. Therefore, he needs to think carefully about his budget. However, Thanh said he is satisfied with the quality of the products this year.

China-made goods dominating the market

The market now seems to be flooded with China-made goods, while very few Vietnam-made goods are available.

Chuc, the owner of a shop on Hang Ma street said that Vietnamese people like cheap and showy things, and Chinese products can meet these standards. “People think that the products for Christmas are used only once. Therefore, the products don’t need to be not durable, but must be colourful and beautiful,” she said

There are tens of shops on Hang Ma street, but only several shops have domestically made products to sell.

“The products available here are made in HCM City. They are very durable and have high quality. However, the designs are not new. Therefore, we are also selling Chinese goods,” a shope owner said

The only Vietnamese product favoured by Vietnamese customers are cards. However, Vietnam-made cards are still less favoured than South Korean cards.

“Christmas has become an important event in Vietnam. However, Vietnamese enterprises still cannot churn out the products which would fit Vietnamese people’s taste,” said Do Gia Phan, Deputy Chair of the Vietnamese Customers’ protection association. – Vietnamnet

Tags: Vietnam finance, Vietnam financial, vietnam gold