Tuesday,  Jun 19, 2018,13:43 (GMT+7) 0 0
Higher prices spur retail revenue
Minh Tam
Monday,  Sep 11, 2017,19:36 (GMT+7)

Higher prices spur retail revenue

Minh Tam

Retail sales of commodities increase due to higher prices - PHOTO: MINH TAM

HCMC – Retail revenue from consumer goods in the first seven months of the year increased substantially over the same period last year, but this rise was attributed to higher prices, according to a report of market research firm Kantar Worldpanel.

The report on sales of fast-moving consumer goods (FMCG) was issued last Thursday after Kantar Worldpanel had conducted a 12-week market research in four large cities -- HCMC, Hanoi, Danang and Can Tho -- and in rural areas.

Retail sales of consumer products grew 10% in January-July, 9.7% higher than in the year-earlier period. Revenues from FMCG sales in both rural and urban areas picked up 5.3% year-on-year.

However, the revenue growth did not come from the higher consumer spending. Instead, in some rural areas in the central and northern regions, consumption tended to decrease, especially of dairy products.

Higher prices of products were also reflected in the average consumer price index (CPI) in the first seven months which edged up 3.91% over the year-ago period. The rate was only 1.82% in January-July last year compared to the same period in 2015.

According to Kantar Worldpanel, the CPI of below 4% may not be kept in the remaining months of the year as food prices inched up in July after going down for six consecutive months and fuel prices have also been revised up.

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