When people talk about Vietnam’s consumer goods market, it is tempting to jump straight into growth figures, middle-class expansion and retail formats. But markets are built by people, and understanding who is shaping the conversation matters just as much as the data. One of those people is Benji Lamb, founder and CEO of Asia Circles, whose career neatly mirrors the broader evolution of consumer goods across Asia.
Benji was my guest on episode 30 of International Expansion Explained
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Let me introduce Benji Lamb
Benji leads Asia Circles, an accelerator and incubator that supports brands entering Southeast Asian and Chinese markets. The firm works at the uncomfortable but essential intersection of strategy, execution and localisation. In other words, not PowerPoint expansion plans that never leave headquarters, but practical market entry and scaling work on the ground. Asia Circles has become particularly visible among consumer brands that understand Asia is not a single playbook and are willing to invest accordingly.
Before founding Asia Circles, Benji built his reputation inside China’s digital and consumer ecosystem. He previously worked with GMA Group, a China-focused marketing agency that grew rapidly during the height of the country’s e-commerce expansion. He also spent time with Vitabiotics, one of Europe’s largest vitamins, minerals and supplements companies, where he later played a critical role in scaling the brand’s China business. Alongside this, he served as a UK Department for Trade Export Champion, reflecting both his commercial results and his ability to bridge UK brands with complex Asian markets.
He is also a LinkedIn Top Voice, a badge that is often overused but, in his case, earned through years of detailed, market-specific commentary rather than recycled trend posts. On a lighter note, Benji is unapologetically fond of bubble tea, a habit he picked up during his early years in Shanghai and still proudly references. It is a small detail, but one that hints at how embedded his Asia experience really is.
The ‘Golden Era’ Genesis: From TEFL to China E-commerce
Like many international careers, Benji’s didn’t begin with a grand export strategy. After university, he planned to teach English as a foreign language in South Korea. The plan fell apart quickly when it became clear that many private schools strongly preferred American English teachers. Rather than force an unworkable situation, he pivoted.
Shanghai became the alternative, chosen for reasons that were refreshingly honest rather than strategic. The skyline looked impressive, and at that stage, that was enough. What followed, however, placed him at the centre of one of the most important periods in modern consumer and digital history.
Arriving in China in 2011, Benji found himself in the middle of a genuine e-commerce boom. This was a time when platforms were still defining themselves, rules were being written in real time, and opportunity felt tangible rather than theoretical. He has often described the period as a kind of digital safari, exploring a new ecosystem without a map.
While teaching English part-time, he had long stretches of free time and used them productively. He applied to multiple marketing agencies with no formal experience and eventually secured an internship with GMA Group, then a five-person startup operating out of a cramped Shanghai office. His initial role was copywriting, producing long-form content explaining China’s emerging digital platforms to an international audience.
This work quickly evolved into something more influential. Benji began publishing detailed commentary on platforms such as LinkedIn, WeChat and Weibo, explaining developments in China’s digital economy well before this became mainstream. He effectively became one of the earliest so-called China Watchers, building an audience at a time when very few people were translating China’s fast-moving digital landscape for Western brands.
The wider environment amplified this momentum. Politically and commercially, the mood around China was optimistic and expansive. Infrastructure development was staggering, with Shanghai alone consuming a significant share of global concrete production during this period. Agencies scaled at extraordinary speed, often outgrowing office space every few months as international brands rushed in with substantial budgets.
Benji gained hands-on experience selling and executing across what would become Asia’s most influential platforms. These included WeChat activations, Baidu search marketing, Weibo campaigns, Red, also known as Xiaohongshu, and e-commerce operations on Tmall and JD. He also witnessed the very early days of ByteDance and the birth of live streaming commerce on Tmall, long before these models became globally influential.
This period mattered not just for skills, but for mindset. The sense that growth was possible, that systems could scale quickly, and that consumer behaviour could change almost overnight would later shape how Benji approached emerging markets such as Vietnam.
High-Stakes Success: Scaling Vitabiotics in China
After several years on the agency side, Benji moved in-house, joining Vitabiotics as Director of China. This transition marked a shift from advising multiple brands to being fully accountable for one. The stakes increased accordingly.
Under his leadership, Vitabiotics’ China business scaled to over 40 million US dollars in retail value, making China the company’s number one export market. This was not a short-term spike but sustained growth, built in a category that demands trust, regulatory precision and strong supply chain discipline.
One of the biggest challenges was not demand, but supply. Like many European and American consumer goods companies, Vitabiotics was not initially structured to handle the sheer volume China could generate. Stock shortages became a real risk.
The solution was operational rather than purely commercial. The company introduced China-specific production codes and prioritised the market internally, ensuring manufacturing and logistics could support growth without compromising other regions. This required persistent internal advocacy and senior-level buy-in, but it proved decisive.
This experience is particularly relevant when discussing fast-moving consumer goods in Asia more broadly. It highlights a recurring theme that applies just as much to Vietnam today. Demand can appear quickly, but only brands willing to adapt their internal systems can convert opportunity into sustainable results.
Together, these early experiences form the backbone of Benji’s perspective. They explain why he focuses so heavily on execution, localisation and long-term brand building, and why his views on Southeast Asia, and Vietnam in particular, are grounded in lived experience rather than theory.
Vietnam and the Transferable China Spirit
One of the defining features of Benji Lamb’s approach at Asia Circles is his determination to retain what he describes as the “China spirit”. It’s not nostalgia that he means, but a mindset. It is the belief that growth is tangible, that momentum can be felt on the ground, and that consumer behaviour shifts quickly when conditions are right.
Vietnam has become the clearest expression of that mindset today.
For years, Vietnam was framed largely as a manufacturing base, a supporting act in the well-worn “China plus one” narrative. That framing no longer holds. While manufacturing remains important, Vietnam is increasingly asserting itself as a serious consumer market in its own right, with rising demand across fast-moving consumer goods, beauty, wellness, food and lifestyle categories.
Anyone who has spent time in Ho Chi Minh City recently will recognise the parallel Benji draws with Shanghai in 2011. Construction is constant, retail formats are evolving in real time, and there is a visible energy that goes beyond GDP statistics. This “feeling” matters more than many executives realise & is often the difference between brands that commit and those that hesitate.
That optimism is underpinned by fundamentals. Vietnam’s rapidly rising middle class is frequently cited, with estimates suggesting around 30 million people entering the relative middle class over the coming years. This is not just a story of higher incomes, but of changing Vietnamese consumer spending habits, increased willingness to trade up, and stronger interest in branded products that signal quality, safety and aspiration.
Vietnam’s modern history has been complex and, at times, deeply challenging. That context makes the current upward mobility even more significant. There is a strong sense that the country’s rise is both earned and overdue, and that confidence feeds directly into Vietnam consumer lifestyle trends and purchasing behaviour.
From a commercial perspective, China remains a critical training ground. Benji is clear that the technical skills developed there are highly transferable across APAC, particularly in social commerce. Platforms such as TikTok Shop and Shopee Live may feel localised, but the algorithms and mechanics driving them are rooted in Chinese innovation. Brands that understand this have a clear advantage when building Vietnam consumer goods demand through digital-first strategies.
Building Brand Equity in Vietnam’s consumer goods market
Beyond sentiment and macro trends, Vietnam stands out for something far more practical. It is a stable, accessible place to do business.
FTAs
From a regulatory and trade perspective, Vietnam benefits from a network of Free Trade Agreements, including the UK–Vietnam FTA and the CPTPP. These agreements materially reduce duties and tariffs, improving commercial viability across categories such as food and beverage products in Vietnam and the Vietnam beauty and personal care market. For many brands, the economics simply work better than expected.
Distribution
Equally important is the professionalisation of distribution. Vietnam has historically been labelled a “one container market”, where distributors imported opportunistically, discounted heavily, and moved on. That model still exists at the margins, but it is no longer dominant. Instead the market has shifted towards sustainable growth, where brand equity, pricing discipline and channel strategy matter.
For brands serious about long-term success, modern trade and e-commerce form the foundation. Unlike the massively fragmented general trade, these channels offer transparency, control over pricing, and the ability to manage where and how products appear. This matters enormously because consumer preferences in Vietnam are becoming more sophisticated and brand-led. (Also, it’s far easier for you to control the variables and recognise what is ACTUALLY making a difference when you are not spread too thinly)
A recurring mistake is assuming that wider distribution automatically equals success. Benji advocates a selective modern trade rollout. Rather than launching into every available store, brands should focus on the strongest locations first. For example, selecting 40 to 50 of the best-performing Guardian stores rather than all 125 allows for better sell-through, clearer data, and more precise investment in trade activation. Gondola ends, cashier visibility and in-store materials must be deployed intentionally, not spread thinly.
E-commerce complements this approach. Platforms such as Shopee and TikTok Shop allow brands to sell direct-to-consumer, maintain price integrity and generate blended margins across channels. This is particularly powerful when aligned with modern trade, reinforcing brand presence online and offline simultaneously.
Vietnam’s omni-channel potential is a key differentiator. Unlike China’s cross-border e-commerce model, which limits and restricts functional claims (because products don’t have to be registered for sale), Vietnam allows brands to operate fully once products are properly registered. This opens far greater scope for messaging, education and differentiation, particularly in the health, beauty and nutrition categories.
Lower barriers to entry than much of SEA
Entry barriers are also lower than many expect. Vietnam sits alongside Singapore and Malaysia as one of the more accessible Southeast Asian markets – registrations are easier than in Thailand, Indonesia or the Philippines. In practice, delays often arise not in Vietnam itself, but in home markets, where document legalisation, internal approvals and misaligned paperwork slow progress.
Value for money marketing opportunities
Cost is another area where perception lags reality. Activation budgets are not astronomical. Running gondola end activations across 40 to 50 stores for six months may cost in the region of $25,000 to $30,000, a figure that compares favourably with short-lived digital campaigns in more mature markets.
Finally, the retail landscape continues to expand. Mother and baby specialist Con Cung has just crossed 1000 stores, while premium retailers such as Annam Gourmet and Guardian are scaling steadily. These outlets reflect where Vietnamese consumer spending habits are heading, towards quality, trust and experience.
Together, these factors explain why Vietnam is no longer a tentative experiment for consumer brands. It is a market where strategy, discipline and local understanding can translate into sustained growth.
Keys to Success: The Human and Creative Elements
For all the discussion around data, demographics and economic factors that Vietnam consumer goods professionals like to analyse, the decisive factor remains leadership judgement. Brands that succeed almost always share one habit. Their decision-makers show up.
CEOs and senior leaders who take the time to visit Vietnam (or any other market!), walk stores, and conduct proper retail tours make better decisions. This is not about ticking a box, having a nice dinner or attending a trade mission. It is about absorbing the atmosphere and understanding how products actually sit within Vietnamese consumer lifestyle trends. Investment decisions grounded in lived experience tend to be braver, more realistic and far more consistent.
These visits also send an unambiguous signal to local importers and distributors. Presence communicates seriousness. It shows that the brand sees Vietnam as more than a side project and expects a real partnership rather than transactional execution. Time on the ground almost always leads to better cooperation, faster problem-solving and stronger alignment once the brand is back at head office. Culturally, Vietnam is a Confucian society where relationships are valued and that means spending time together.
When it comes to what actually drives success on shelf, three elements appear again and again. First is a clear origin story. Brands like Cocoon demonstrate how powerfully provenance and authenticity can resonate when communicated well. This matters across categories, from food and beverage products through to beauty and personal care, where trust and narrative influence purchase decisions.
Second is creative quality. Vietnam is a busy, visually dense market. Brands do not get long to make an impression. In-store materials, packaging and digital assets must work hard and work fast. This is particularly relevant given the intensity of competition Vietnam now faces in consumer goods , with domestic and international brands vying for the same consumer attention.
Third is localisation with emotional intelligence. Translation alone is not enough. Brands need to understand how humour, aspiration, family, health and status are expressed locally. Emotional resonance is what converts interest into trial and trial into repeat purchase.
Underpinning all of this is a disciplined O2O approach. Successful brands treat offline and online as a single system, not parallel activities. Retail presence supports digital credibility, while e-commerce content reinforces in-store visibility. Assets should move across channels fluidly, maximising return on investment and reinforcing brand recognition.
The most common failure point is depressingly familiar. Brands copy and paste what worked at home. They roll out strategies designed for Europe, Singapore or cross-border China and expect them to perform unchanged. This top-down mindset ignores local nuance and sidelines on-the-ground teams who understand the market far better than head office ever can.
What Vietnam rewards instead is curiosity. Brands that ask questions, listen carefully and remain humble adapt faster and make fewer expensive mistakes. Curiosity about the culture, retail behaviour and local business norms is not a soft skill here. It is a commercial advantage, particularly as Vietnam consumer goods demand continues to evolve at speed.
Category Predictions
Looking ahead, momentum in Vietnam’s consumer goods market shows little sign of slowing. Several categories stand out clearly.
Health and healthcare remain strong, with probiotics and preventative wellness products continuing to gain traction as consumer education improves. Mother and baby remains a priority category, driven by rising expectations around quality, safety and brand trust. Footwear, particularly men’s shoes, has emerged as one of the fastest-growing segments on e-commerce platforms, reflecting broader shifts in male grooming and lifestyle spending. Cosmetics, meanwhile, continues its upward trajectory, supported by social commerce and changing consumer preferences in Vietnam.
These category trends are reinforced by broader Vietnamese consumer spending habits, where discretionary income is increasingly directed towards products that combine functionality with aspiration.
For brands willing to do the work properly, Vietnam’s consumer goods market offers something increasingly rare. A sense of momentum, room to differentiate, and a consumer base that is ready to engage. The opportunity is real, but it rewards those who treat it as a long game rather than a quick win.
Vietnam is no longer a market you “test” with a small shipment and a fingers-crossed distributor. It is a serious consumer market that rewards brands willing to turn up, listen, and build properly. The opportunity is not about chasing scale at any cost, but about understanding how Vietnamese consumers shop, what they value, and how brands earn trust over time. Get the channel strategy right, invest in brand equity, and stay curious rather than complacent, and Vietnam can become one of the most commercially and professionally rewarding markets in Asia to work in.
The full discussion
You can watch the full discussion with Benji here:
You can find Benji here:
LinkedIn: / benjithelamb
Website: https://asiacircles.co/
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Kathryn firmly believes that business is done between people, and therefore places her focus on building strong relationships that form a solid foundation for doing business.
When she's not travelling around the world, Kathryn enjoys playing clarinet in her town's wind orchestra or sharing her love of the outdoors with her Scout group.
