沃尔玛加码自有品牌：山姆“平替”能否破解大卖场转型困局

中国经营网02-28

2026年春节正值消费旺季，《中国经营报》记者走访多家沃尔玛门店发现，其自有品牌“沃集鲜”已占据卖场核心陈列位，从生鲜饮品到休闲零食，该品牌身影遍布多个品类，不少消费者在货架前驻足选购。　　公开资料显示，沃集鲜最早于2019年推出，2025年沃尔玛中国正式对其进行品牌焕新升级，SKU数量从几十款快速扩容至近千款，覆盖生鲜、食品等核心品类。　　在大卖场业态普遍承压的背景下，加码自有品牌被沃尔玛视为...

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brand: Can Sam's \"replacement\" solve the dilemma of hypermarket transformation","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WMT":1.95,"WMTI":0.6},"content_text":"2026年春节正值消费旺季，《中国经营报》记者走访多家沃尔玛门店发现，其自有品牌“沃集鲜”已占据卖场核心陈列位，从生鲜饮品到休闲零食，该品牌身影遍布多个品类，不少消费者在货架前驻足选购。　　公开资料显示，沃集鲜最早于2019年推出，2025年沃尔玛中国正式对其进行品牌焕新升级，SKU数量从几十款快速扩容至近千款，覆盖生鲜、食品等核心品类。　　在大卖场业态普遍承压的背景下，加码自有品牌被沃尔玛视为破局之道。但是在多位业内专家看来，这一转型仍面临挑战，面对发展数十年的传统知名品牌，消费者对老牌产品的品质信任度和消费惯性依然构成坚固的护城河，沃集鲜在短期内难以撼动其市场地位；此外，包括永辉、大润发等传统大卖场以及盒马及其他新兴零售渠道同样在发力自有品牌。如何在竞争中构建真正的护城河，尚需市场检验。　　押注沃集鲜谋转型　　2026财年，沃尔玛中国披露财报，净销售额约247亿美元，同比增长约21.67%，山姆交易单量实现双位数增长，而沃尔玛超市具体业绩未单独披露。中国连锁经营协会数据显示，沃尔玛中国门店数量从2019年的442家缩减至2025年4月的334家，其中关停门店多为经营不善或不符合战略布局门店。　　当前，沃尔玛中国采取两条腿走路的策略：一是加快山姆扩店步伐，抢占付费会员制赛道；二是盘活大卖场存量，通过商品与店型革新推动转型，而加码自有品牌沃集鲜，正是这一转型战略的核心落地举措。　　“大卖场主打的知名品牌，价格竞争力已难敌电商平台，这是沃尔玛发力自有品牌的核心动因。” 沃尔玛前市场部员工、零售行业专家庄帅表示。他结合自身打造母婴自有品牌的经历，总结出商超布局自有品牌的三大核心原因：能快速满足消费新需求，商超直面消费者，更易捕捉未被满足的需求；当前品牌商品趋同性显著，自有品牌能跳出同质化竞争，提升消费者忠诚度；自有品牌省去品牌方的营销与渠道费用，可在同等品质下降低售价。　　新零售行业专家鲍跃忠则指出，当前零售行业普遍面临同质化困境，且在制造商品牌主导的市场格局下，产业链利润分配不均。以农夫山泉为例，其自身纯利润率达 30%，而零售终端的毛利空间仅约20%，利润多沉淀在生产环节，进一步加剧了零售端经营压力，这也让自有品牌成为沃尔玛转型的必然选择。　　相关资料显示，沃尔玛此前自有品牌架构包含惠宜、沃集鲜和George三大品牌。随着战略调整，沃尔玛将原属惠宜的部分包装食品整合至沃集鲜，惠宜则转向专注家居日用品。对于沃集鲜未来发展规划、盈利目标等问题，记者向沃尔玛中国方面提出采访，截至发稿未获回复。　　目前在沃尔玛超市内，沃集鲜产品被集中陈列于核心区域，尽管官方未披露具体SKU占比，但该品牌的品类渗透率已处于较高水平。记者走访发现，沃集鲜系列产品目前以代工模式为主，且主打与头部品牌合作，洽洽、今麦郎、蒙牛、伊利、味全等企业均为其代工相关产品。　　零售行业专家胡春才分析指出，代加工模式是行业常态，核心在差异化赋能。零售企业自建工厂的情况极少，代加工是自有品牌普遍采用的模式，甚至品牌厂商也会在产能不足时寻求代工支持。优质零售商的核心竞争力并非简单贴牌，而是基于自身定位，在原料、工艺、产品卖点等方面提出差异化要求，这也是部分沃尔玛代工产品消费者反馈优于品牌自有产品的重要原因。　　值得注意的是，沃尔玛转型并非单一聚焦自有品牌，而是构建“大店+社区店+电商”全渠道矩阵。一方面，全国超100家沃尔玛大店完成升级，另一方面，发力社区店，截至目前，深圳已落地5家社区店，未来将规模化复制，与大卖场、电商形成协同效应，呼应零售业近场化变迁。　　借鉴山姆经验　　沃集鲜因推出多款山姆同款爆品且总价较低，在社交平台被冠以山姆“平替”标签，巴马弱碱性水、黑松露火腿苏打饼干等山姆热门单品，均能在沃集鲜找到同类产品。　　诚然，沃集鲜的快速崛起，离不开山姆经验的借鉴与转化，但并未简单复制。如沃尔玛将“海盐苏打饼干”调整为“奶盐芝麻苏打饼干”，并在口味上做了微调。在定价方面，以巴马弱碱性水为例，山姆巴马弱碱性水300ml×24瓶售价22.8元，沃集鲜同规格20瓶装19.99元，沃集鲜虽单瓶单价略高，但小包装总价更低，更贴合日常高频、非囤货的消费需求。　　相关资料显示，除了复制山姆成功经验，还有就是洞察消费者心态。沃尔玛管理层在公开访谈中表示，公司通过对评论、复购、负反馈进行持续跟踪，并将非结构化用户内容转化为产品迭代依据。　　尽管有相似产品，胡春才认为二者并不会出现“左右手互搏”，山姆的自有商品可分为“市场独一性”和“人有我优”两类，前者因客群定位与价格体系差异，向沃尔玛延伸的概率极低；后者则具备较强的复制价值，既能降低沃尔玛的产品开发成本，又能缩小消费者认知差异，是企业规模效应的有效释放，不会形成实质性内部竞争。　　记者注意到，两家多款相似爆品并非同样的供应商，如山姆销售的MM弱碱性天然矿泉水供应商为巴马百年食品饮料有限公司，沃集鲜同类产品供应商为巴马和泰长寿产业有限公司。沃集鲜苹果干供应商为荣成市多佰利食品，山姆则为莱阳恒润食品。不过，有消费者在社交平台发帖称，二者产品定位虽然都是健康零添加，但沃集鲜的苹果干相比体型更小。　　但也存在供应商重合情况，如最近推出的姜黄柠檬汁饮料的供应商同为劲宝食品，山姆Member's Mark毛毯与沃尔玛在售毛毯均由江苏美达纺织有限公司生产。据《经济观察报》此前报道：“沃尔玛与山姆的采购体系相互独立，仅执行岗位有正常人事流动。”因此不排除资源流动情况，但各品类负责人保持稳定，保障了二者的差异化发展。　　自有品牌破局仍存多重挑战　　在大卖场业态持续走弱的背景下，永辉、大润发等传统商超，盒马、叮咚买菜等新兴渠道，以及奥乐齐等外资超市均加速发力自有品牌，赛道竞争日趋白热化。　　行业现状呈现明显分化：头部玩家表现突出，胖东来自有品牌DL系列2025年销售占比超32%，规划销售额达60亿元；山姆Members Mark打造多款高复购爆款。与之相对，大量中小零售商及部分传统商超的自有品牌仍停留在“低价替代品”阶段，盲目扩品陷入价格内卷，难以建立消费者心智。　　特许经营专家李维华指出，从商业趋势来看，渠道商加大自有品牌的比重已成为主要发展方向之一。成熟的国际市场普遍采用全球采购、全球代工的模式，通过全球直采和工厂直供，建立了完善的供应链体系。相比之下，国内渠道商的自有品牌起步较晚，体系尚不成熟。自有品牌是双刃剑，质量问题会对企业声誉造成毁灭性打击，持续强化品控、避免同质化，是持续发展的关键。　　胡春才则指出，自有品牌发展需突破三层能力壁垒，经历从仅具名称标识的 “自有白牌”，到形成消费者认知与复购的“自有品牌”，再到打造品类专属心智的“自有名牌”的进阶过程。山姆的成功印证了线上线下联动推广、持续优化品质的重要性，其他大卖场若想复制，需在供应链整合、品控体系搭建、用户心智培育上长期投入，而非单纯模仿产品形态。　　当前，赛道内玩家还在持续加码，大润发截至 2025 年 9 月底已布局 “超省”“润发甄选”两大自有品牌，覆盖 50 余个品类；盒马自 2017 年发力自有品牌，推出日日鲜系列，还启动 “合盒共生” 计划扶植供应商；叮咚买菜推出 “黑钻世家” 黑猪品牌，持续深化供应链布局。　　业内人士认为，供应链深度整合是自有品牌的核心竞争力，这也是传统大卖场的普遍短板。庄帅表示，做好自有品牌需具备独立决策部门、产品差异化、营销培育三大核心能力。只有把这3个基本功做扎实，才能在现阶段把自有品牌做好、卖好。（文章来源：中国经营网）","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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