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|Wood Shopping Festival 2021 was launched on January 20|
The Wood Shopping Festival 2021 will last until the Lunar New Year and will be an opportunity for overseas companies to introduce their products such as timber-based house models. Meanwhile, supporting companies can also take this chance to promote their devices, services, and material supply.
The local demand for furniture usually spikes before the Tet holiday due to the Vietnamese tradition of decorating their houses to enjoy the New Year. Furniture makers also seize the chance to approach more customers through plentiful promotion programmes.
On the other hand, the economic slowdown caused by COVID-19 makes consumers more conservative in opening their wallets, resulting in a clear preference for established brands and products with clear origins instead of large promotions.
Vo Quang Ha, director at Tan Vinh Cuu JSC, said that using legal timber products is a must for any business reaching for sustainable growth. “The global and even the local market now demand that products meet these principles but this is also a chance for businesses to beef up their competitiveness,” Ha added. The export value of wood and timber products hit $12.5 billion last year.
Nevertheless, the inability to get manufacturing materials at reasonable prices hampers the sector's development. Typically, most businesses still look for material supplies from diverse markets to finish a few orders, according to Ha.
Moreover, COVID-19 has been a heavy burden on many wood companies. Nguyen Thanh Nhan, owner of a wood manufacturing facility said that his exports have been interrupted by their inability to increase the number of overseas customers. Accordingly, its current export markets are growing difficulty due to the pandemic
The festival will last until after the Lunar New Year with more than 200 booths and millions of diverse items.