Consumer & Retail Sector – A reliable base from essential consumption
Posted: Jul 20, 2026
We select MWG and VNM for our 2026 investment strategy: Viewing the essentialconsumption market as set to improve in 2026-27, we prioritize companies with essential-consumption exposure and attractive valuations.
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MWG: Attractive valuation relative to growth prospects, with a forecast 2026-27 PEG of just 0.4x, as its modern grocery arm (BHX) leverages a proven operating model and scale to drive breakout profit growth; the planned IPO of its MW segment (The Gioi Di Dong & DMX, together with the Erablue joint venture) is an additional catalyst supporting a re-rating.
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VNM: A shift to net profit growth combined with rising domestic dairy market share are two ideal conditions for investing in 2026. It currently trades 24% below its 5-year average P/E and 19.4% below the sector average P/E, while still offering an attractive dividend/price yield of ~7.7%.
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