Retail Stocks Surge Ahead of Anti-Counterfeit Campaign and Tax Management

In a differentiated market, retail stocks like MWG, FRT, and PNJ have surged due to positive support from the anti-counterfeit campaign and tighter tax management. These companies have reputable, large distribution systems, notably MWG with its Thế Giới Di Động chain. The anti-counterfeit campaign is expected to accelerate consumer shifts toward modern trade (MT) channels for greater reliability. According to SSI Research, eliminating fixed taxes on businesses and requiring invoices will boost MT channel competitiveness while minimizing tax evasion. Non-compliant businesses may have to raise prices, encouraging consumers towards MT. New tax regulations on e-commerce platforms will also reduce competition for non-compliant businesses. Additionally, applying VAT on low-value parcels starting February 18, 2025, may affect pricing. In April 2025, Shopee and TikTok Shop plan to increase seller fees, creating a more equitable competitive environment for legitimate businesses.