Core Insights - The article discusses the complexities and challenges faced by suppliers partnering with Sam's Club, highlighting both the potential benefits and risks associated with such collaborations [1][2][3]. Supplier Performance - At least 18 domestic listed food companies have partnered with Sam's Club, with many being recent entrants. Some suppliers, like Youyou Foods, have seen significant revenue increases after entering Sam's, while others have struggled with declining profits [3][5]. - Youyou Foods expects a revenue of 746 million to 798 million yuan for the first half of 2025, representing a year-on-year increase of 40.91% to 50.77% [5]. - Prior to joining Sam's, Youyou Foods experienced consecutive revenue declines in 2022 and 2023, with revenues of 1.024 billion and 966 million yuan, respectively [6]. Market Dynamics - The partnership with Sam's Club can serve as a brand endorsement, enhancing visibility and credibility for suppliers. However, the long-term success of products depends on customer feedback and repurchase rates [6][10]. - Suppliers face challenges such as long payment terms and the need to cover production and logistics costs upfront, leading to increased accounts receivable [7][8]. Profitability Concerns - Entering Sam's Club does not guarantee profit growth, as the retailer often pressures suppliers to lower prices, impacting profit margins [7][8]. - For instance, Qiaqia Foods reported a decrease in gross margin despite increased revenue from direct sales channels, indicating the financial strain of operating within Sam's [8][9]. Brand and Product Strategy - Some suppliers have faced branding challenges, with products being rebranded under different labels to create an "imported" perception, which can dilute brand identity [9]. - Sam's Club's stringent product entry requirements necessitate additional investment in product development, which may be burdensome for smaller suppliers [10].

编辑丨骆一帆 不久前，山姆上架好丽友、溜溜梅、卫龙等产品引发舆论风波，被吐槽"选品不上心"（回顾→山姆上新，会员吵翻）。山姆背 后的中国供应商，也受到较大关注。 据21世纪经济报道记者不完全统计，目前与山姆有合作关系的国内上市食品类企业至少有18家，大部分企业为近两年新入驻。 | 供应商 | 入驻时间 | 产品 | | --- | --- | --- | | 立高食品 | 2025年1月 | 奶油小方、无花果乳酪欧包、芋泥麻薯包、香肠芝士面包、瑞士卷等 | | 盐津铺子 | 2024年6月 | 脱骨鸭掌 | | 有友食品 | 2024年7月 | 轻享时光蔬菜包、酸汤脆软骨、掌中宝 | | 五方向 | 2025年4月 | 软心玉米团 | | 周黑鸭 | 2025年3月 | 周黑鸭经典卤料包和周黑鸭风味鸭肉酱 | | 妙可蓝多 | 2025年5月 | KETO牛肉+再制奶酪 | | 九毛九 | 2024年 | 九毛九红焖羊肉煲、西北卤牛腿拌凉皮等 | | 新乳业 | 2025年5月 | 芭乐口味酸奶 | | 农夫山泉 | 2025年5月 | 芥末味夏威夷果、黑金蒜香菜味翡翠豆 | | 甘源食品 | 2021年12 ...