Consumer demand in Vietnam has surged sharply, especially during major holidays and commemorative events. January 2026 aligns with Lunar New Year preparations—a peak spending period that has given retail businesses a significant boost.
Amid this momentum, Digiworld Corporation reported preliminary 2025 results with record revenue of approximately $1.07 billion. This marks a 21.2% increase from 2024 and exceeds its annual target by 5%. The figures signal a clear recovery in technology product demand.
Phu Hung Securities noted that Digiworld’s growth stems primarily from laptops and tablets. These segments benefit from rising consumer interest in AI-integrated devices. Additionally, mobile phones and office equipment also contributed to the upward trend.
Looking ahead, Digiworld expects to sustain medium-term growth. Key drivers include ongoing device upgrades, investment in digital infrastructure, AI adoption, rapid urbanization, and growing tech literacy among Vietnamese consumers.
Meanwhile, Mobile World Investment Corporation (MWG) forecasts strong profit growth in both 2025 and 2026. VNDirect Securities projects its 2025 profit at around $268 million—up 80% year-on-year. This surge comes from better-than-expected ICT performance, efficient management, expansion of the Bach Hoa Xanh grocery chain, and favorable new tax policies.
The gradual recovery in consumer confidence and improved financial conditions are also reviving replacement demand for electronics and home appliances. Furthermore, the rebounding real estate market is boosting sales of household goods.
Bach Hoa Xanh remains MWG’s key growth engine. Thanks to optimized product mixes, tighter cost control, and operational improvements, the chain expects to grow 2026 revenue by about 22% year-on-year. Overall, VNDirect forecasts MWG’s 2026 revenue at $7.01 billion and pre-tax profit at roughly $396 million.
An important policy catalyst is stricter tax enforcement. Authorities now require mandatory e-invoicing and apply tighter oversight to informal retailers. These measures reduce unfair competition and help modern retailers like MWG gain market share and accelerate profit growth.
FPT Digital Retail, the retail arm of FPT Corporation, has also seen a strong rebound. The FPT Shop chain recovered notably during the back-to-school season, driven by sales of electronics, laptops, and smartphones. Meanwhile, the Long Chau pharmacy chain continues to lead as the main growth driver through rapid expansion.
Long Chau is now Vietnam’s largest modern pharmacy chain by both revenue and store count. It is also one of the few in the sector already reporting profits.
Hanoi-based National Securities forecasts FPT Retail’s 2025 consolidated revenue at about $2.08 billion—a 29% year-on-year increase.
In the essential consumer segment, Masan Group and Vinamilk expect to maintain leadership. Their extensive distribution networks, strong brand recognition, and continuous innovation give them a competitive edge.
KB Vietnam Securities believes that 2026 consumption will rise further due to high economic growth targets and personal income tax relief. These factors create significant opportunities for domestic consumer firms.
Nguyen The Minh, head of Research and Development at Yuanta Vietnam Securities, said retail is among the most favored stock groups in 2026. “Multiple tailwinds—including tax reforms, economic growth, and rising household incomes—are stimulating consumption,” he explained.
He added that retail stocks offer strong long-term potential. “With positive corporate outlooks and possible market reclassification, valuations could improve significantly when Vietnam’s stock market upgrades to emerging market status—potentially as early as September.”
