Thoughts about international trade and other topics that occupy my daylight hours.
Monday, January 23, 2012
Chúc mừng năm mới -- Happy New Year!
Tết display in Saigon. Source: Wikimedia Commons
Today, Vietnamese people around the world are celebrating Tết Nguyên Đán (or just Tết), the Vietnamese Lunar New Year. Here is an interesting article that addresses how important the holiday is for Vietnamese retailers, much as the December holidays are for retailers in the United States. It also notes that demand for consumer goods for Tết was so high this year that it might have been too much of a good thing, as robust consumer demand has done nothing to help tame galloping inflation. Also interesting is the article's quoting of one firm's prediction of a banner year for sales of baby products, as some observers expect an increase in births due to this being a "lucky" dragon year in the Vietnamese zodiac.