According to a report by Maybank IBG Research, Vietnam’s retail revenue is expected to grow by 9.3% in 2025, but remains below pre-COVID levels due to unstable consumer sentiment. Consumer confidence has declined due to global trade instability and crackdowns on counterfeit goods. However, a recovery is anticipated in 2026, driven by improved economic conditions, government support policies, and better employment prospects. The retail sector saw strong growth in Q3 2025, with parent company profits rising by 96%. The modern retail sector is poised to expand further as stricter regulations target informal businesses. The shift towards modern retail presents significant opportunities for major companies like MWG, MSN, PNJ, and FRT. Reforms promoting e-commerce, tackling counterfeits, and increasing supply chain transparency will benefit larger scale companies, and the sector is expected to experience strong growth potential in the future.
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