SSI: Crackdown on counterfeit goods greatly benefits Mobile World, FPT Retail, Digiworld and Winmart, while PNJ faces pressure from gold inspections

According to SSI Research, recent crackdowns on counterfeit goods have prompted consumers to shift to more reliable retail forms, benefiting modern trade chains like Mobile World (MWG), FPT Retail (FRT), and Digiworld (DGW). Legalizing tax for businesses will narrow the price gap between traditional and modern channels, enhancing competition for legitimate retailers. Additionally, new regulations on gold management may offer opportunities for modern jewelry retailers like PNJ, but also increase the inspection pressures that PNJ must face in the short term. The new regulation requiring large businesses to issue invoices is expected to lead to difficulties for many small businesses, while compliant companies may benefit from a more regulated market. In the long term, this policy environment promises a fairer playing field and increased consumer trust in legitimate retailers.