Business

Mooncake purchasing power soars sharply

SGGP
The mooncake market has entered the peak business season with purchasing power highly increasing. This is contrary to the initial forecast that the purchasing power is unpredictable, maybe even decreases because customers cut spending due to the impacts of the Covid -19 pandemic.

A variety of mooncakes are sold at supermarkets. (Photo: SGGP)

A variety of mooncakes are sold at supermarkets. (Photo: SGGP)

Ms. Nguyen Thi Ngoc Thuy, the owner of Thanh Long mooncake brand, said that purchasing power and consumption at this time have reached the same level as last year. Thanh Long has received orders from most of the major partners. Accordingly, retail sales of mooncakes at its outlets have not seen any decrease either.

Similarly, Dai Phat's luxurious mooncakes are selling well. Right from the beginning of the season, orders for mooncakes packed in a box of lacquerware and Minh Long porcelain, priced at VND1.58 million per box, have tripled compared to last year. 

The mooncakes of ABC Bakery are also consumed well in the market. Of which, mooncakes made from dragon fruits are chosen by most consumers. 

Stores of Kinh Do Bakery have also seen high customer footfall. The owner of a Kinh Do’s store on Pham Van Dong Street said that the purchasing power this year has shown no signs of decrease compared to the same period last year.

Explaining the reason why the purchasing power of mooncakes was still growing fairly well during the pandemic, Ms. Nguyen Thi Ngoc Thuy said that this year, many non-branded mooncakes did not enter the market, so the game belongs to big brands. Enterprises have not only strived to retain old customers and increase gaining new customers, but also actively innovated their products, improved packing following customers' tastes, and promoted online advertising and online sales. Moreover, the company has also planned to offer a high discount of 20 -30 percent for large orders, and at the same time, run promotional campaigns for customers. Especially, in the context that consumers demand high quality and food safety, brands must also invest more to satisfy customers.

By Kim Chung – Translated by Thuy Doan

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