RETAIL SECTOR: THE MODERN SHIFT AMIDST A SLOW CLIMB

Key points:

• Consumer spending is expected to witness more improvements in 2026 notwithstanding a slow pace.
• Despite the dominance of traditional channel, the shift in consumers’ shopping habit from traditional to modern trade favor retailers in Vietnam. The online channel extends its rapid expansion momentum.
• New tax policies for household businesses may promote more fairness in competition between retail enterprises and traditional shops.
• Listed retail companies including MWG, FRT, PNJ continue to expand their networks and are projected to generate an aggregate EAT growth of 26.5% YoY in 2026.