山姆，惹恼会员！

Core Insights - Sam's Club, a well-known warehouse membership store, is facing public scrutiny due to controversies surrounding product selection and pricing [2] - Recent product adjustments have led to dissatisfaction among members, particularly regarding a new low-sugar snack that did not meet consumer expectations [3][5] - The perception of Sam's Club's "curated service" is being questioned as it introduces more mainstream brands, diluting its premium image [6] - Pricing controversies have emerged, such as the high price of a 2kg ice product, which has sparked consumer debate over value [8] - Sam's Club has over 5 million effective members in China, with membership fee revenue exceeding 1.3 billion yuan, indicating strong financial performance despite recent challenges [9] Product Selection Issues - A new low-sugar snack from Haoliyou was criticized for being too sweet, leading to negative reviews from over 300 consumers [3] - Other popular products have been removed from shelves, causing frustration among members who feel their membership fees are not justified [3][5] - Consumers are expressing their dissatisfaction on social media, with some indicating they will not renew their memberships [3][5] Pricing Controversies - The introduction of a 2kg ice product priced at 22.8 yuan has raised eyebrows, with some consumers questioning its value [8] - Sam's Club defended the pricing by highlighting the unique production process that enhances the product's quality [8] - Previous quality control issues have also been reported, affecting consumer trust in the brand [8] Membership and Revenue Insights - Sam's Club's membership fee revenue grew by 28% year-on-year, contributing significantly to overall revenue [9] - The renewal rate for premium members is high at 92%, indicating strong customer loyalty [9] - The company is exploring ways to balance high-end products with more affordable options to meet diverse consumer needs [10] Competitive Landscape - Sam's Club faces increasing competition from other membership-based retailers like Costco and Hema, which are attracting consumers with unique offerings [10] - The company must reassess its value proposition as the paid membership model becomes more common in the industry [10] - Finding a balance between premium and mass-market products is crucial for maintaining its competitive edge [10]