Global Retailers Walmart, Amazon, and Miniso Eyeing Increased Sourcing from Vietnam
Global retail giants Walmart, Amazon, and Miniso are showing interest in sourcing more products from Vietnamese suppliers, aiming to diversify and expand their product portfolios. This move comes as Vietnam emerges as a key supply market in Asia for these retailers.
At an export forum held recently in Vietnam, Aly Ansari, senior director of sourcing at Walmart, highlighted the country’s importance as a supply market for the company. Walmart currently sells Vietnamese fashion products, electronics, and toys in several countries, including the U.S., Canada, Mexico, Chile, and China. The company is now seeking more suppliers, particularly in the toys and foods categories.
Gijae Seong, director of Amazon Global Selling Vietnam, emphasized the need to diversify and expand the range of made-in-Vietnam products on the platform. The volume of Vietnamese goods sold on Amazon has seen a significant increase, with health and personal care, home, apparel, and beauty products being the top-selling categories.
In addition to Walmart and Amazon, Chinese retailer Miniso, with a vast global presence, also plans to strengthen its partnerships with Vietnamese suppliers. Smaller retailers like Coppel have also shown interest in sourcing from Vietnam. Coppel, which operates over 1,000 stores in Mexico and Argentina, is looking to expand its offerings of Vietnamese furniture products and is exploring partnerships with footwear suppliers in Vietnam.
Deputy Minister of Industry and Trade Phan Thi Thang highlighted that major retailers’ interest in sourcing from Vietnam is driven by the country’s strategic location in the global supply chain. Vietnam’s advantages, including tariff preferences under various free trade agreements, low labor costs, strategic geographic location, and improving logistics, make it an attractive sourcing destination for global retailers.
As global demand for sustainable and quality products rises, Vietnamese suppliers are expected to benefit from these partnerships. The country’s exports have shown a promising growth of 15% year-on-year, reaching $156.5 billion in the first five months of the year, according to official data. With major retailers eyeing increased sourcing from Vietnam, the country’s position as a key player in the global supply chain is set to strengthen further.