August 2025: Consumer Spending Rebounds, Leading VN30 Company Accelerates Rural Expansion

The robust recovery is fueled by improved income, stimulus policies, and heightened consumer demand during major holidays.

Amidst a thriving market, Masan Group (HoSE: MSN), a leading consumer and retail enterprise, has reported impressive results across its core segments. Both WinCommerce (WCM) and Masan MEATLife (MML) demonstrated positive growth in July and August 2025, surpassing their set targets. These achievements reflect the resilience of the domestic market and the effectiveness of Masan’s expansion strategy, underscoring the growing importance of its ecosystem in meeting consumer needs.

WinCommerce: Expansion Goals Achieved, New Stores Profitable from the Start

According to the latest business report, WCM recorded revenue of VND 3,573 billion in August 2025, a 24.2% increase year-on-year. Cumulatively, over the first eight months, revenue reached VND 25,000 billion, up 16.1% compared to the same period in 2024, significantly exceeding the planned growth target of 8–12%. Notably, like-for-like (LFL) sales grew by 8.2% over eight months, with August alone seeing an 11.9% increase, outpacing previous averages and highlighting genuine demand from existing stores.

The strategy to expand the retail network in rural areas continues to yield significant results. In the first eight months, WCM opened 415 new stores, meeting its annual target of 400–700 stores. Of these, 300 were WinMart+ stores in rural areas, accounting for approximately 75% of new openings. The Central region alone contributed nearly 50% of the new stores, cementing its strategic importance in the company’s expansion plans.

The rapid profitability of WinMart+ stores in rural areas demonstrates that modern retail models align with evolving consumer preferences, as people increasingly prioritize safe, convenient, and traceable products.

Masan MEATLife: Growing Contribution to the Ecosystem

While WCM expands its reach, Masan MEATLife (MML) has achieved notable success, driven by the trend of “eating well, living healthy.” In July 2025, the average daily revenue from MML products at each WCM store was approximately VND 2.3 million. Extrapolated across nearly 4,200 stores, this could result in daily revenue of nearly VND 9.5 billion, indicating substantial growth potential within the modern retail channel.

Significantly, MML’s contribution to WCM’s total meat sales has steadily increased. From 49% in 2023, it rose to 55% in 2024, 62% in Q2/2025, and reached 69% in July 2025. This trend underscores MML’s growing role within Masan’s distribution network.

To meet consumer expectations, MML continues to implement its integrated 3F (Feed – Farm – Food) value chain, encompassing livestock farms, processing plants, and a modern distribution system. This closed-loop system ensures quality control from input to output, aligning with the rising demand for safe and traceable food products.

Momentum from the Domestic Market

The positive growth of WCM and MML aligns with broader market trends. VAT reductions, minimum wage increases, and the shift from traditional markets to modern retail channels have been key drivers. Additionally, National Day celebrations on September 2nd and vibrant tourism and service activities in August further boosted shopping demand.

As Vietnam approaches the USD 5,000 GDP per capita milestone—a threshold often associated with a surge in high-value consumption—Masan is well-positioned to capitalize on growth opportunities in both urban and rural areas.

Despite recent positive performance, Masan faces significant challenges. Vietnam’s retail market is becoming increasingly competitive, with more international brands entering and local chains expanding rapidly. High-speed network expansion places considerable pressure on operational costs, including rent, logistics, and staffing. Balancing scale expansion with cost control is critical to sustaining profitable growth.

Nevertheless, the company’s outlook remains positive, supported by internal strengths and macroeconomic conditions. The first eight months of 2025 showed a clear recovery trend, with total retail sales of goods and services increasing by 9.4% year-on-year. Leveraging this momentum, the synergy between WinCommerce and Masan MEATLife creates a dual advantage: WCM expands retail reach to consumers, while MML provides high-quality, traceable products that meet safety-conscious consumer trends. Together with Masan Consumer and other ecosystem units, Masan is poised to sustain growth in the coming quarters.