Chinese goods flood into the Vietnamese market before the Spring Festival

According to the website of Vietnam's "Young People's Daily" on December 31, 2024, various products made in China, including lanterns, artificial flowers, scented candles, decorations, clothing, beauty products, and snacks, flooded the Vietnamese market before the Lunar New Year holiday

According to reports, with the surge in shopping demand in Vietnam before the Spring Festival, traditional markets and retail stores are filled with Chinese goods due to the high quality and diverse variety of imported goods from China

According to reports, Ruan Qiuhui, who has been doing decoration business in the newly established market in Ho Chi Minh City since October 2024, has purchased more Chinese goods to prepare for the upcoming Spring Festival. When she realized that consumers in traditional markets preferred affordable products, she began importing more of these goods

When selling locally manufactured goods, her profit margin is very low, while the profit margin for selling Chinese goods is relatively high. The trendy Spring Festival gifts imported from China come in various shapes and patterns, with a price range of 200000 to 250000 Vietnamese dong per set (10000 Vietnamese dong is about 2.86 yuan - this website's note), while tea sets are priced at 180000 Vietnamese dong per set. A highly realistic artificial flower costs only 10000 Vietnamese dong and even emits a faint fragrance. If purchased locally in Vietnam, the price of such goods will be higher

Ruan Qiuhui also said that the profit margin of local products is usually only 7% to 10% of the product price, while the profit margin of Chinese imported products is 40% to 80%. Similarly, the prices of lanterns and scented candles imported from China are generally below 100000 Vietnamese dong. She said that many buyers will inquire about the origin of the goods and accept Chinese products without discounts

The report states that selling Chinese goods before the Spring Festival helped Ruan Qiuhui make up for the impact of her business downturn in 2024

There are a large number of vendors selling Chinese goods, and some people who used to sell local products are now choosing Chinese products

Like Nguyen Qiuhui, the owner of a clothing store in Ho Chi Minh City had to borrow money to purchase goods a few years ago. However, now she no longer faces financial pressure as she has turned to importing Chinese goods that require less capital. She pointed out that she not only sells these goods in her own store, but also distributes them to merchants in other provinces. She said she can earn more profits through Chinese products

It is reported that at the same time, Chinese snacks, such as cassava, egg yolk crisp, meat floss Dim sum, are also popular among Vietnamese young people

Many shop owners have stated that sales of related cosmetics have also increased. They said that the price of each facial mask produced in Vietnam was about 35000 Vietnamese dong, and vendors could only earn 2000 to 3000 Vietnamese dong. And they can get higher profits from selling Chinese facial mask with more favorable prices

The head of a consumer goods manufacturer in Vietnam stated that due to factors such as the failure of local companies to carry out effective promotional activities, the trend of Chinese goods flooding into Vietnam before the Spring Festival is quite strong. He also pointed out that the rise of e-commerce platforms has made it easier to import Chinese goods. The person in charge also emphasized that Vietnamese companies must be brave enough to accept competition