{"id":14901,"date":"2025-12-08T13:26:22","date_gmt":"2025-12-08T06:26:22","guid":{"rendered":"https:\/\/www.phfm.vn\/?p=14901"},"modified":"2026-01-15T17:08:37","modified_gmt":"2026-01-15T10:08:37","slug":"consumption-picking-the-right-winners","status":"publish","type":"post","link":"https:\/\/www.phfm.vn\/vi\/consumption-picking-the-right-winners\/","title":{"rendered":"TI\u00caU D\u00d9NG B\u00c1N L\u1eba – CH\u1eccN \u0110\u00daNG “NG\u01af\u1edcI” TH\u1eaeNG CU\u1ed8C"},"content":{"rendered":"

Ng\u00e0nh ti\u00eau d\u00f9ng b\u00e1n l\u1ebb – ch\u1ecdn \u0111\u00fang “ng\u01b0\u1eddi” th\u1eafng cu\u1ed9c<\/strong><\/span><\/h1>\n

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Ti\u00eau d\u00f9ng chung:<\/u><\/strong><\/p>\n

T\u00ednh chung 10 th\u00e1ng n\u0103m 2025, t\u1ed5ng m\u1ee9c b\u1ea3n l\u1ebb h\u00e0ng h\u00f3a v\u00e0 d\u1ecbch v\u1ee5 theo gi\u00e1 hi\u1ec7n h\u00e0nh \u0111\u1ea1t 5,772.9 ngh\u00ecn t\u1ef7 \u0111\u1ed3ng, t\u0103ng 9.3% y\/y, n\u1ebfu lo\u1ea1i tr\u1eeb y\u1ebfu t\u1ed1 gi\u00e1 t\u0103ng 7.0% y\/y. Trong \u0111\u00f3, doanh thu b\u00e1n l\u1ebb h\u00e0ng h\u00f3a t\u0103ng 8.0% y\/y, nh\u00f3m doanh thu d\u1ecbch v\u1ee5 l\u01b0u tr\u00fa, \u0103n u\u1ed1ng t\u0103ng 14.6% y\/y trong khi doanh thu du l\u1ecbch l\u1eef h\u00e0nh t\u0103ng 19.8% y\/y.<\/p>\n

Nh\u00ecn chung trong 10 th\u00e1ng \u0111\u1ea7u n\u0103m, t\u1ed5ng m\u1ee9c b\u00e1n l\u1ebb v\u1eabn ch\u01b0a h\u1ed3i ph\u1ee5c l\u1ea1i so v\u1edbi m\u1ee9c trung b\u00ecnh quanh 2 ch\u1eef s\u1ed1 c\u1ee7a giai \u0111o\u1ea1n tr\u01b0\u1edbc COVID. Doanh thu t\u1eeb d\u1ecbch v\u1ee5 \u0111\u00e3 \u0111\u00f3ng g\u00f3p l\u1edbn v\u00e0o m\u1ee9c t\u0103ng n\u0103m nay trong khi b\u00e1n l\u1ebb h\u00e0ng h\u00f3a v\u1eabn ch\u01b0a cho th\u1ea5y s\u1ef1 kh\u1edfi s\u1eafc n\u00e0o khi ch\u1ec9 t\u0103ng 8.0% y\/y. Nh\u00ecn chung ho\u1ea1t \u0111\u1ed9ng b\u00e1n l\u1ebb, ti\u00eau th\u1ee5 trong n\u01b0\u1edbc b\u1ecb \u1ea3nh h\u01b0\u1edfng \u0111\u00e1ng k\u1ec3 b\u1edfi thi\u00ean tai, l\u0169 l\u1ee5t x\u1ea3y ra t\u1ea1i m\u1ed9t s\u1ed1 \u0111\u1ecba ph\u01b0\u01a1ng trong c\u00e1c th\u00e1ng g\u1ea7n \u0111\u00e2y c\u00f9ng v\u1edbi gi\u00e1n \u0111o\u1ea1n trong ho\u1ea1t \u0111\u1ed9ng c\u1ee7a c\u00e1c h\u1ed9 kinh doanh do lo s\u1ee3 v\u1ec1 c\u00e1c thay \u0111\u1ed5i trong ch\u00ednh s\u00e1ch thu\u1ebf. \u0110i\u1ec3m s\u00e1ng d\u1ec5 th\u1ea5y nh\u1ea5t l\u00e0 t\u1eeb ho\u1ea1t \u0111\u1ed9ng du l\u1ecbch nh\u1edd v\u00e0o c\u00e1c ch\u00ednh s\u00e1ch th\u1ecb th\u1ef1c g\u1ea7n \u0111\u00e2y, b\u1ea5t \u1ed5n \u0111\u1ecba ch\u00ednh tr\u1ecb c\u1ee7a c\u00e1c \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh v\u00e0 trong n\u01b0\u1edbc c\u00f3 nhi\u1ec1u c\u00e1c d\u1ecbp l\u1ec5 h\u1ed9i. Trong 10 th\u00e1ng \u0111\u1ea7u n\u0103m 2025, Vi\u1ec7t Nam \u0111\u00e3 \u0111\u00f3n 17.1 tri\u1ec7u kh\u00e1ch du l\u1ecbch qu\u1ed1c t\u1ebf, t\u0103ng 21.5% so v\u1edbi c\u00f9ng k\u1ef3.<\/p>\n

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C\u00e1c lu\u1eadt, ngh\u1ecb \u0111\u1ecbnh m\u1edbi:<\/u><\/strong><\/p>\n

\u0110\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c t\u0103ng tr\u01b0\u1edfng \u0111\u1ea7y tham v\u1ecdng trong giai \u0111o\u1ea1n 2026-2030 v\u1edbi m\u1ee5c ti\u00eau t\u0103ng tr\u01b0\u1edfng GDP kho\u1ea3ng 10%, ti\u00eau d\u00f9ng n\u1ed9i \u0111\u1ecba s\u1ebd ph\u1ea3i b\u1eaft \u0111\u1ea7u t\u0103ng t\u1ed1c. Theo quan \u0111i\u1ec3m c\u1ee7a ch\u00fang t\u00f4i, kh\u00e1c v\u1edbi c\u00e1c n\u01b0\u1edbc ph\u01b0\u01a1ng T\u00e2y n\u1eb7ng v\u1ec1 ch\u1ee7 ngh\u0129a ti\u00eau d\u00f9ng, m\u1ed9t n\u01b0\u1edbc \u0110\u00f4ng \u00c1 nh\u01b0 Vi\u1ec7t Nam s\u1ebd th\u01b0\u1eddng mang xu h\u01b0\u1edbng c\u1ea9n tr\u1ecdng trong chi ti\u00eau, ng\u01b0\u1eddi d\u00e2n s\u1ebd ch\u1ec9 chi ti\u00eau nhi\u1ec1u m\u1ed9t khi h\u1ecd c\u1ea3m th\u1ea5y \u0111\u1ee7 an to\u00e0n v\u1ec1 t\u01b0\u01a1ng lai. N\u1ebfu thu nh\u1eadp kh\u1ea3 d\u1ee5ng kh\u00f4ng d\u00f4i d\u01b0, kh\u00f4ng c\u00f3 \u0111\u1ee7 ti\u1ebft ki\u1ec7m hay t\u00e0i s\u1ea3n \u0111\u1ec3 d\u00e0nh b\u1ecb \u1ea3nh h\u01b0\u1edfng, ng\u01b0\u1eddi ti\u00eau d\u00f9ng t\u1ea1i \u0111\u00e2y s\u1ebd l\u1eadp t\u1ee9c lui v\u00e0o th\u1ebf ph\u00f2ng th\u1ee7 v\u00e0 c\u1eaft gi\u1ea3m chi ti\u00eau ho\u1eb7c ch\u1ec9 ti\u00eau d\u00f9ng c\u00e1c m\u1eb7t h\u00e0ng thi\u1ebft y\u1ebfu.<\/p>\n

N\u0103m 2025 v\u00e0 b\u01b0\u1edbc sang 2026 \u0111\u00e3 v\u00e0 \u0111ang ch\u1ee9ng ki\u1ebfn nh\u1eefng thay \u0111\u1ed5i l\u1edbn v\u1ec1 lu\u1eadt \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp v\u00e0 gi\u00e1n ti\u1ebfp \u0111\u1ebfn ti\u1ec1n l\u01b0\u01a1ng, thu nh\u1eadp v\u00e0 thu\u1ebf – m\u1ed9t ph\u1ea7n trong \u0111\u1ecbnh h\u01b0\u1edbng c\u1ea3i c\u00e1ch th\u1ec3 ch\u1ebf c\u1ee7a nh\u00e0 n\u01b0\u1edbc. C\u00e1c thay \u0111\u1ed5i n\u00e0y ph\u1ea7n l\u1edbn h\u01b0\u1edbng \u0111\u1ebfn vi\u1ec7c gi\u1ea3m tr\u1eeb thu\u1ebf th\u00f4ng qua t\u0103ng m\u1ee9c gi\u1ea3m tr\u1eeb gia c\u1ea3nh, t\u0103ng l\u01b0\u01a1ng cho c\u00e1c nh\u00e2n vi\u00ean trong \u0111\u01a1n v\u1ecb c\u00f4ng. \u0110\u1ed3ng th\u1eddi ch\u00fang t\u00f4i c\u0169ng th\u1ea5y m\u1ed9t s\u1ed1 thay \u0111\u1ed5i h\u01b0\u1edbng \u0111\u1ebfn vi\u1ec7c khuy\u1ebfn kh\u00edch x\u00e2y d\u1ef1ng, m\u1edf r\u1ed9ng s\u1ef1 th\u00e2m nh\u1eadp c\u1ee7a c\u00e1c m\u00f4 h\u00ecnh b\u00e1n l\u1ebb hi\u1ec7n \u0111\u1ea1i.<\/p>\n\n\n\n\n\n\n
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Quy \u0111\u1ecbnh<\/strong><\/span><\/p>\n<\/td>\n

N\u1ed9i dung<\/strong><\/span><\/td>\n\n

B\u00ecnh lu\u1eadn<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

Ch\u00ednh s\u00e1ch gi\u1ea3m thu\u1ebf VAT<\/strong><\/td>\n\u00a0\u2022 Ch\u00ednh s\u00e1ch gi\u1ea3m 2% thu\u1ebf VAT \u0111\u00e3 \u0111\u01b0\u1ee3c k\u00e9o d\u00e0i \u0111\u1ebfn h\u1ebft 2026. Ch\u00ednh s\u00e1ch n\u00e0y \u0111\u01b0\u1ee3c m\u1edf r\u1ed9ng \u00e1p d\u1ee5ng cho nhi\u1ec1u khu v\u1ef1c nh\u01b0 v\u1eadn t\u1ea3i, logistics, h\u00e0ng h\u00f3a v\u00e0 d\u1ecbch v\u1ee5 IT.<\/td>\n\u00a0\u2022 Kh\u00f4ng \u0111\u00e1ng k\u1ec3, ch\u1ee7 y\u1ebfu t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn m\u1eb7t t\u00e2m l\u00fd.<\/td>\n<\/tr>\n
\u0110i\u1ec1u ch\u1ec9nh lu\u1eadt thu\u1ebf thu nh\u1eadp c\u00e1 nh\u00e2n (d\u1ef1 ki\u1ebfn 2026) (c\u00e1c thay \u0111\u1ed5i n\u00e0y ch\u01b0a \u0111\u01b0\u1ee3c ch\u1ed1t v\u00e0o th\u1eddi \u0111i\u1ec3m vi\u1ebft b\u00e0i)<\/strong><\/td>\n\u00a0\u2022 T\u0103ng m\u1ee9c gi\u1ea3m tr\u1eeb gia c\u1ea3nh:<\/u><\/strong>
\n<\/u>Nh\u1eefng \u0111i\u1ec1u ch\u1ec9nh \u0111\u01b0\u1ee3c \u0111\u1ec1 xu\u1ea5t g\u1ed3m t\u0103ng m\u1ee9c gi\u1ea3m tr\u1eeb gia c\u1ea3nh b\u1ea3n th\u00e2n t\u1eeb 11 tri\u1ec7u VND l\u00ean \u0111\u1ebfn 15 tri\u1ec7u VND\/th\u00e1ng v\u00e0 m\u1ee9c gi\u1ea3m tr\u1eeb cho ng\u01b0\u1eddi ph\u1ee5 thu\u1ed9c t\u1eeb 4.4 tri\u1ec7u VND l\u00ean 6 tri\u1ec7u VND\/th\u00e1ng\/ng\u01b0\u1eddi, \u0111\u1ec3 ph\u1ea3n \u00e1nh t\u1ed1t h\u01a1n chi ph\u00ed s\u1ed1ng v\u00e0 l\u1ea1m ph\u00e1t\u2022 C\u1ea3i c\u00e1ch c\u00e1c b\u1eadc thu\u1ebf:<\/u><\/strong>
\nC\u00e1c chuy\u00ean gia \u0111\u1ec1 xu\u1ea5t gi\u1ea3m b\u1eadc thu\u1ebf v\u00e0 \u0111i\u1ec1u ch\u1ec9nh c\u00e1c ng\u01b0\u1ee1ng ch\u1ecbu thu\u1ebf \u0111\u1ec3 gi\u1ea3m g\u00e1nh n\u1eb7ng l\u00ean ng\u01b0\u1eddi thu nh\u1eadp trung b\u00ecnh.<\/td>\n		\u00a0\u2022 M\u1eb7c d\u00f9 ch\u01b0a c\u00f3 hi\u1ec7u l\u1ef1c, nh\u1eefng thay \u0111\u1ed5i s\u1eafp t\u1edbi \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng s\u1ebd gia t\u0103ng thu nh\u1eadp kh\u1ea3 d\u1ee5ng c\u1ee7a c\u00e1c h\u1ed9 gia \u0111\u00ecnh, d\u1eabn \u0111\u1ebfn t\u0103ng chi ti\u00eau<\/td>\n<\/tr>\n
Ngh\u1ecb \u0111\u1ecbnh 70\/2025\/N\u0110-CP (c\u00f3 hi\u1ec7u l\u1ef1c 1\/6\/2025)<\/strong><\/td>\n\u00a0\u2022 C\u1eadp nh\u1eadt c\u00e1c quy \u0111\u1ecbnh v\u1ec1 h\u00f3a \u0111\u01a1n. Y\u00eau c\u1ea7u c\u00e1c h\u1ed9 kinh doanh nh\u1ecf l\u1ebb v\u1edbi doanh thu l\u1edbn h\u01a1n 1 t\u1ef7 \u0111\u1ed3ng ph\u1ea3i s\u1eed d\u1ee5ng h\u00f3a \u0111\u01a1n \u0111i\u1ec7n t\u1eed t\u1eeb h\u1ec7 th\u1ed1ng POS. \u0110\u1ed3ng th\u1eddi y\u00eau c\u1ea7u th\u1eddi \u0111i\u1ec3m xu\u1ea5t h\u00f3a \u0111\u01a1n v\u00e0 bi\u1ec3u m\u1eabu cho c\u00e1c nh\u00e0 th\u01b0\u01a1ng m\u1ea1i \u0111i\u1ec7n t\u1eed, si\u00eau th\u1ecb v\u00e0 nh\u00e0 cung c\u1ea5p d\u1ecbch v\u1ee5.<\/td>\n\u00a0\u2022 \u0110i\u1ec1u n\u00e0y s\u1ebd \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn c\u00e1c c\u1eeda h\u00e0ng kinh doanh truy\u1ec1n th\u1ed1ng nh\u1ea5t, b\u1edfi v\u00ec c\u00e1c \u0111\u01a1n v\u1ecb n\u00e0y ch\u01b0a quen c\u00f3 h\u1ec7 th\u1ed1ng h\u00f3a \u0111\u01a1n chu\u1ea9n.<\/p>\n

\u2022 \u0110i\u1ec1u ch\u1ec9nh n\u00e0y s\u1ebd gi\u00fap gi\u1ea3m b\u1edbt l\u1ee3i th\u1ebf c\u1ee7a k\u00eanh truy\u1ec1n th\u1ed1ng li\u00ean quan \u0111\u1ebfn gi\u00e1 (b\u1edfi v\u00ec s\u1ea3n ph\u1ea9m c\u1ee7a h\u1ecd c\u00f3 th\u1ec3 r\u1ebb h\u01a1n do kh\u00f4ng ch\u1ecbu thu\u1ebf ho\u1eb7c ch\u1ecbu thu\u1ebf kh\u00f4ng \u0111\u1ea7y \u0111\u1ee7 trong qu\u00e1 tr\u00ecnh k\u00ea khai)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Trung Qu\u1ed1c trong 2 n\u0103m qua c\u0169ng \u0111\u00e3 c\u00f3 nhi\u1ec1u bi\u1ec7n ph\u00e1p \u0111\u1ec3 k\u00edch th\u00edch ti\u00eau d\u00f9ng trong n\u01b0\u1edbc v\u1edbi h\u00e0ng lo\u1ea1t c\u00e1c nh\u00f3m gi\u1ea3i ph\u00e1p nh\u01b0 t\u0103ng thu nh\u1eadp, t\u0103ng n\u0103ng l\u1ef1c chi ti\u00eau (t\u0103ng l\u01b0\u01a1ng h\u01b0u, tr\u1ee3 c\u1ea5p tr\u00f4ng tr\u1ebb, t\u0103ng chi ti\u00eau v\u00e0o gi\u00e1o d\u1ee5c,\u2026), n\u00e2ng c\u1ea5p ng\u00e0nh d\u1ecbch v\u1ee5, tr\u1ee3 gi\u00e1 ti\u00eau d\u00f9ng (tr\u1ee3 gi\u00fap c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh \u0111\u1ed5i c\u0169 l\u1ea5y m\u1edbi, ph\u00e1t tri\u1ec3n th\u1ecb tr\u01b0\u1eddng second-hand,..) v\u00e0 nhi\u1ec1u nh\u00f3m gi\u1ea3i ph\u00e1p kh\u00e1c. Ch\u01b0\u01a1ng tr\u00ecnh c\u1ee5 th\u1ec3 n\u00e0y c\u0169ng \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ed9t s\u1ed1 k\u1ebft qu\u1ea3 khi m\u1ee9c ti\u00eau d\u00f9ng \u0111o l\u01b0\u1eddng c\u00f3 t\u0103ng l\u00ean trong ng\u1eafn h\u1ea1n, tuy nhi\u00ean v\u1eabn ch\u01b0a th\u1eadt s\u1ef1 thay \u0111\u1ed5i \u0111\u01b0\u1ee3c c\u1ee5c di\u1ec7n ti\u00eau d\u00f9ng t\u1ea1i Trung Qu\u1ed1c.<\/p>\n

Nh\u01b0 ch\u00fang t\u00f4i \u0111\u00e3 ph\u00e2n t\u00edch \u1edf ph\u00eda tr\u00ean, ng\u01b0\u1eddi ti\u00eau d\u00f9ng ch\u1ec9 th\u1eadt s\u1ef1 m\u1edf r\u1ed9ng h\u1ea7u bao c\u1ee7a m\u00ecnh khi h\u1ecd c\u1ea3m th\u1ea5y vi\u1ec5n c\u1ea3nh t\u01b0\u01a1ng lai, c\u01a1 h\u1ed9i vi\u1ec7c l\u00e0m an to\u00e0n v\u00e0 c\u00f3 m\u1ed9t kho\u1ea3n ti\u1ebft ki\u1ec7m, \u0111\u1ea7u t\u01b0 \u0111\u1ee7 l\u1edbn. Ch\u00ednh v\u00ec th\u1ebf, s\u1ef1 h\u1ed3i ph\u1ee5c b\u00e1n l\u1ebb t\u1ea1i Vi\u1ec7t Nam s\u1ebd ch\u1ec9 tr\u1edf n\u00ean m\u1ea1nh m\u1ebd khi vi\u1ec5n c\u1ea3nh kinh t\u1ebf th\u1eadt s\u00e1ng s\u1ee7a, thu nh\u1eadp kh\u1ea3 d\u1ee5ng c\u1ee7a ng\u01b0\u1eddi d\u00e2n gia t\u0103ng v\u00e0 \u0111i k\u00e8m v\u1edbi n\u00f3 l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng t\u00e0i s\u1ea3n l\u00e0nh m\u1ea1nh, b\u1ec1n v\u1eefng \u0111\u1ec3 c\u1ee7ng c\u1ed1 hi\u1ec7u \u1ee9ng t\u00e0i s\u1ea3n (wealth effect).<\/p>\n

C\u00e1c xu h\u01b0\u1edbng \u0111\u00e1ng ch\u00fa \u00fd:<\/u><\/strong><\/p>\n

M\u1eb7c d\u00f9 s\u1ef1 h\u1ed3i ph\u1ee5c m\u1ea1nh trong s\u1ee9c mua chung nhi\u1ec1u bi\u1ebfn s\u1ed1, tuy nhi\u00ean ch\u00fang t\u00f4i \u0111\u00e3 th\u1ea5y m\u1ed9t s\u1ed1 s\u1ef1 d\u1ecbch chuy\u1ec3n \u0111\u00e1ng ch\u00fa \u00fd trong c\u01a1 c\u1ea5u b\u00e1n l\u1ebb, ti\u00eau d\u00f9ng t\u1ea1i Vi\u1ec7t Nam, c\u00f3 th\u1ec3 g\u1ee3i m\u1edf nhi\u1ec1u h\u00e0m \u00fd \u0111\u1ea7u t\u01b0. Theo NielsenIQ, gi\u00e1 tr\u1ecb FMCG Q3\/2025 t\u0103ng +3.1%, nh\u01b0ng s\u1ea3n l\u01b0\u1ee3ng b\u00e1n ra gi\u1ea3m -1.9% \u2013 m\u1ee9c gi\u1ea3m s\u00e2u nh\u1ea5t trong 12 th\u00e1ng qua. Gi\u00e1 t\u0103ng ti\u1ebfp t\u1ee5c l\u00e0 \u0111\u1ed9ng l\u1ef1c duy nh\u1ea5t gi\u1eef ng\u00e0nh \u1edf v\u00f9ng d\u01b0\u01a1ng, trong khi s\u1ee9c mua th\u1ef1c t\u1ebf v\u1eabn \u0111i xu\u1ed1ng.<\/p>\n

Tuy nhi\u00ean, khi so s\u00e1nh v\u1edbi th\u1ecb tr\u01b0\u1eddng chung, s\u1ee9c mua kh\u00f4ng gi\u1ea3m \u0111\u1ed3ng lo\u1ea1t, m\u00e0 ph\u1ea3n \u00e1nh \u0111\u1eb7c tr\u01b0ng t\u1eebng v\u00f9ng v\u00e0 t\u1eebng k\u00eanh. Th\u1ecb tr\u01b0\u1eddng mi\u1ec1n Trung ch\u1eefng l\u1ea1i \u0111\u00e1ng k\u1ec3 \u2013 c\u00f3 th\u1ec3 do \u1ea3nh h\u01b0\u1edfng b\u00e3o l\u0169 v\u00e0 th\u1eddi ti\u1ebft b\u1ea5t l\u1ee3i. Th\u1ecb tr\u01b0\u1eddng mi\u1ec1n Nam sau nhi\u1ec1u qu\u00fd t\u0103ng tr\u01b0\u1edfng m\u1ea1nh \u0111ang d\u1ea7n b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n c\u00e2n b\u1eb1ng, \u0111\u1ed1i m\u1eb7t v\u1edbi c\u1ea1nh tranh ng\u00e0y c\u00e0ng gay g\u1eaft t\u1eeb c\u00e1c k\u00eanh hi\u1ec7n \u0111\u1ea1i (MT). Ng\u01b0\u1ee3c l\u1ea1i, c\u00e1c k\u00eanh MT v\u00e0 M&B (milk & baby) v\u1eabn l\u00e0 nh\u1eefng \u0111i\u1ec3m s\u00e1ng, nh\u1edd \u0111\u1ed9 ph\u1ee7 r\u1ed9ng v\u00e0 kh\u1ea3 n\u0103ng \u0111\u00e1p \u1ee9ng nhanh nhu c\u1ea7u \u201cmua g\u1ea7n \u2013 d\u00f9ng li\u1ec1n.\u201d<\/p>\n

\"\" \"\"<\/p>\n

\"\" \u00a0 \"\"<\/p>\n

Ngu\u1ed3n: Euromonitor, PHFM t\u1ed5ng h\u1ee3p<\/p>\n

Trong l\u00fac th\u1ecb tr\u01b0\u1eddng chung c\u00f3 v\u1ebb tr\u1ea7m l\u1eafng, v\u1eabn c\u00f3 m\u1ed9t s\u1ed1 doanh nghi\u1ec7p c\u00f3 th\u1ec3 t\u00ecm \u0111\u01b0\u1ee3c t\u0103ng tr\u01b0\u1edfng th\u00f4ng qua vi\u1ec7c nh\u1eadn ra v\u00e0 t\u1eadn d\u1ee5ng c\u00e1c xu h\u01b0\u1edbng ti\u00eau d\u00f9ng m\u1edbi. Ch\u00ednh s\u00e1ch thu\u1ebf v\u00e0 quy \u0111\u1ecbnh \u0111\u1ed1i v\u1edbi h\u1ed9 kinh doanh \u0111ang ng\u00e0y c\u00e0ng \u0111\u01b0\u1ee3c th\u1eaft ch\u1eb7t, \u0111\u00f2i h\u1ecfi s\u1ef1 minh b\u1ea1ch h\u01a1n trong vi\u1ec7c ghi nh\u1eadn doanh thu v\u00e0 h\u00f3a \u0111\u01a1n. \u0110i\u1ec1u n\u00e0y khi\u1ebfn chi ph\u00ed tu\u00e2n th\u1ee7 c\u1ee7a c\u00e1c c\u01a1 s\u1edf kinh doanh nh\u1ecf l\u1ebb t\u0103ng l\u00ean, \u0111\u1ed3ng th\u1eddi r\u00fat ng\u1eafn kho\u1ea3ng c\u00e1ch so v\u1edbi c\u00e1c doanh nghi\u1ec7p b\u00e1n l\u1ebb hi\u1ec7n \u0111\u1ea1i v\u1ed1n \u0111\u00e3 v\u1eadn h\u00e0nh theo chu\u1ea9n m\u1ef1c k\u1ebf to\u00e1n v\u00e0 thu\u1ebf \u0111\u1ea7y \u0111\u1ee7 t\u1eeb tr\u01b0\u1edbc. \u0110i k\u00e8m v\u1edbi \u0111\u00f3 l\u00e0 c\u00e1c ti\u00eau chu\u1ea9n ng\u00e0y c\u00e0ng cao c\u1ee7a ng\u01b0\u1eddi ti\u00eau d\u00f9ng v\u1ec1 truy su\u1ea5t ngu\u1ed3n g\u1ed1c, an to\u00e0n th\u1ef1c ph\u1ea9m v\u00e0 t\u00ednh ti\u1ec7n d\u1ee5ng c\u1ea7n c\u00f3 \u0111\u1ec3 \u0111\u00e1p \u1ee9ng \u0111\u1eddi s\u1ed1ng hi\u1ec7n \u0111\u1ea1i h\u1ed1i h\u1ea3.<\/p>\n

\u0110i\u1ec3n h\u00ecnh nh\u01b0 chu\u1ed7i B\u00e1ch h\u00f3a Xanh (thu\u1ed9c s\u1edf h\u1eefu c\u1ee7a MWG) v\u1edbi doanh thu l\u0169y k\u1ebf 10 th\u00e1ng 2025 t\u0103ng 13% y\/y \u0111\u1ebfn t\u1eeb c\u1ea3 hai nh\u00f3m th\u1ef1c ph\u1ea9m t\u01b0\u01a1i s\u1ed1ng v\u00e0 FMCG, trong khi \u0111\u00f3 v\u1eabn ti\u1ebfp t\u1ee5c m\u1edf m\u1edbi 600 c\u1eeda h\u00e0ng k\u1ec3 t\u1eeb \u0111\u1ea7u n\u0103m (s\u1ed1 c\u1eeda h\u00e0ng cu\u1ed1i 10\/2025: 2,370 c\u1eeda h\u00e0ng). B\u00ean c\u1ea1nh \u0111\u00f3, MSN c\u0169ng \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c nh\u1eefng th\u00e0nh c\u00f4ng b\u01b0\u1edbc \u0111\u1ea7u khi khai ph\u00e1 c\u00e1c khu v\u1ef1c n\u00f4ng th\u00f4n v\u1edbi m\u00f4 h\u00ecnh si\u00eau th\u1ecb mini WinMart+. C\u00e1c c\u1eeda h\u00e0ng si\u00eau th\u1ecb mini WinMart+ n\u00f4ng th\u00f4n ghi nh\u1eadn t\u0103ng tr\u01b0\u1edfng doanh thu tr\u00ean c\u00f9ng c\u1eeda h\u00e0ng hi\u1ec7n h\u1eefu (LFL) tr\u00ean 15% trong hai n\u0103m li\u00ean ti\u1ebfp, th\u1eadm ch\u00ed nhi\u1ec1u \u0111i\u1ec3m m\u1edf m\u1edbi c\u00f3 doanh thu b\u00ecnh qu\u00e2n c\u00f2n v\u01b0\u1ee3t c\u1ea3 c\u1eeda h\u00e0ng \u1edf khu v\u1ef1c th\u00e0nh th\u1ecb. Th\u1eddi gian ho\u00e0n v\u1ed1n \u0111\u01b0\u1ee3c r\u00fat ng\u1eafn xu\u1ed1ng d\u01b0\u1edbi 2,5 n\u0103m.<\/p>\n

T\u1ed5ng k\u1ebft:<\/u><\/strong><\/p>\n

Th\u1ecb tr\u01b0\u1eddng b\u00e1n l\u1ebb c\u1ee7a Vi\u1ec7t Nam \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng s\u1ebd ph\u1ee5c h\u1ed3i v\u00e0o n\u0103m sau, \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi c\u00e1c ch\u00ednh s\u00e1ch nh\u1eb1m t\u0103ng thu nh\u1eadp kh\u1ea3 d\u1ee5ng c\u1ee7a ng\u01b0\u1eddi d\u00e2n. M\u1eb7c d\u00f9 c\u00f2n m\u1ed9t s\u1ed1 s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn xoay quanh t\u00e2m l\u00fd chung, nh\u1eefng doanh nghi\u1ec7p linh ho\u1ea1t, s\u00e1ng t\u1ea1o v\u00e0 n\u0103ng \u0111\u1ed9ng t\u1eadn d\u1ee5ng \u0111\u01b0\u1ee3c c\u00e1c xu h\u01b0\u1edbng ti\u00eau d\u00f9ng m\u1edbi v\u1eabn lu\u00f4n c\u00f3 th\u1ec3 t\u00ecm \u0111\u01b0\u1ee3c m\u1ee9c t\u0103ng tr\u01b0\u1edfng \u1ea5n t\u01b0\u1ee3ng \u2013 ngay c\u1ea3 khi t\u1ed5ng ti\u00eau th\u1ee5 ch\u1ec9 \u1edf m\u1ee9c khi\u00eam t\u1ed1n.<\/p>\n

Nguy\u1ec5n Minh Tr\u00ed \u2013 Ph\u00f2ng \u0111\u1ea7u t\u01b0, PHFM<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Ng\u00e0nh ti\u00eau d\u00f9ng b\u00e1n l\u1ebb – ch\u1ecdn \u0111\u00fang “ng\u01b0\u1eddi” th\u1eafng cu\u1ed9c   Ti\u00eau d\u00f9ng chung: T\u00ednh chung 10 th\u00e1ng n\u0103m 2025, t\u1ed5ng m\u1ee9c b\u1ea3n l\u1ebb h\u00e0ng h\u00f3a v\u00e0 d\u1ecbch v\u1ee5 theo gi\u00e1 hi\u1ec7n h\u00e0nh \u0111\u1ea1t 5,772.9 ngh\u00ecn t\u1ef7 \u0111\u1ed3ng, t\u0103ng 9.3% y\/y, n\u1ebfu lo\u1ea1i tr\u1eeb y\u1ebfu t\u1ed1 gi\u00e1 t\u0103ng 7.0% y\/y. Trong \u0111\u00f3, doanh thu…<\/p>\n","protected":false},"author":10,"featured_media":14935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[103,182,105],"tags":[175,173,174,176,177,178],"_links":{"self":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/14901"}],"collection":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/comments?post=14901"}],"version-history":[{"count":13,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/14901\/revisions"}],"predecessor-version":[{"id":15225,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/14901\/revisions\/15225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media\/14935"}],"wp:attachment":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media?parent=14901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/categories?post=14901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/tags?post=14901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}