山姆最大护城河崩塌，500万中国会员还留得住吗？

Core Insights - Sam's Club in China is facing a significant crisis as its competitive advantage diminishes due to the influx of common supermarket brands like Orien and Weilong, which were previously unique to its offerings [1] - The once exclusive products that attracted 5 million members are now being phased out, leading to a loss of the "scarcity" appeal that was crucial for member loyalty [1] - The erosion of the "special feeling" that belonged solely to members raises concerns about how Sam's Club can maintain loyalty among middle-class families [1]