Sector Insight

1. Retail sector Update in 4M2026

In 2025, Vietnam’s retail sector continued to maintain stable growth compared to 2024. In the first four months of 2026, total retail sales of goods and services at current prices reached VND 2,546 trillion, up 11.1% YoY. Excluding the impact of price factors, real growth was estimated at around 6.3%.

2. Outlook for Vietnam’s retail industry in 2H/2026

Retail sector growth is expected to reach 16% YoY for the full year 2026 thanks to:

(1) Positive economic growth expectations alongside strong consumer spending 

(2) The strengthening presence of modern retail 

(3) Accelerating the expansion of modern retail experiences into rural areas.

(4) E-commerce channels – the growth pillar of the retail industry

(5) Consumer confidence is strengthened by supportive policies.

3. Retail stock investment opportunity: MWG, FRT and DGW