According to Maybank IBG Research, retail revenue increased by 9.3% in 10T2025, yet remains below pre-COVID levels. Consumer sentiment is weak due to global uncertainty and news about counterfeit goods. However, 2026 is expected to see improvement in consumption thanks to macroeconomic reforms and government support policies. The retail sector continues strong growth in Q3/2025, with profits up 96% compared to last year. Major players like MWG and MSN are projected to drive the sector forward. Stricter regulations are reshaping the market, pressuring unofficial small retailers and enhancing consumer trust in modern retail channels. Reforms like mandatory electronic invoices will benefit leading firms. MSVN forecasts profit growth of 55% in 2025 and 26% in 2026. There are high expectations for the future, particularly in grocery, pharmaceuticals, and jewelry sectors, enhancing the industry’s outlook.
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