Core Insights - Hema X membership stores in Beijing will cease operations starting July 31, marking the complete closure of Hema X stores in the city [1][2] - Hema X, which aimed to compete with Sam's Club by offering high-quality products and bulk purchasing, has seen over half of its stores shut down nationwide since early last year [2] - Despite achieving profitability for nine consecutive months and a customer growth of over 50%, Hema's strategic value within Alibaba has diminished, leading to a need for self-sufficiency [2][3] Financial Performance - Hema reported overall profitability for nine months, with a customer base increase exceeding 50% [2] - The closure of Hema X stores reflects a broader trend of strategic shifts within Alibaba, where Hema has been required to be self-sustaining since 2021 [3][12] Strategic Positioning - Hema's decline in strategic importance within Alibaba contrasts with the continued support for Ele.me, which is seen as having high strategic value due to its logistics infrastructure [3][10] - The competitive landscape has intensified with Alibaba's entry into the instant retail market, where Ele.me has been actively engaged against rivals like JD and Meituan [4][5][6] Market Dynamics - Meituan maintains a dominant position in the food delivery market, with a market share of 64.6% in 2023, projected to rise to 65% in 2024 [9] - Hema's inability to effectively participate in the instant retail battle has led to its strategic sidelining, as it lacks the logistics capabilities that Ele.me possesses [11][12] Historical Context - Hema was established to capture the grocery market, but its various business models have struggled to achieve sustainable profitability [20][24] - The shift in Alibaba's strategy in 2021, which emphasized independent profit and loss responsibility for its business units, has left Hema in a precarious position [12][14][17] Competitive Landscape - Hema's attempts to innovate and capture market share have been met with challenges, as evidenced by the struggles of similar models like Meituan's "Little Elephant" fresh food stores [23][24] - The high costs associated with fresh food logistics and the need for a robust supply chain have made the grocery business particularly difficult [23][24] Leadership and Future Outlook - The retirement of former CEO Hou Yi and the subsequent lack of strategic direction have contributed to Hema's decline [30][36] - The relationship between Hou Yi and Alibaba's leadership has been pivotal in Hema's history, but the current environment suggests a shift away from its original innovative spirit [36][37]
即时零售大战，盒马呢？
3 6 Ke·2025-07-16 01:25