盒马告别会员店，消费者：感觉没啥特色商品

Core Viewpoint - Hema's X membership stores are set to close, marking the end of this membership model in China, with the last store in Shanghai shutting down on August 31, 2023 [1][2]. Group 1: Store Closures and Business Model - Hema X membership stores have been closing rapidly, with the last remaining store in Shanghai to cease operations, following the closure of multiple locations in Beijing, Suzhou, and Nanjing [1][2]. - The X membership store concept was launched in October 2020, aiming to create a unique membership shopping experience in China, but has struggled to gain traction [1][2]. - By July 2023, the number of X membership stores had already decreased from a peak of 10 to 5, indicating a trend of contraction before the complete withdrawal [3]. Group 2: Performance and Market Response - Despite initial optimism from Hema's former CEO about the X membership store's potential to compete with Costco, the stores contributed less than 10% to Hema's overall sales by 2023 [2][3]. - The pricing strategy, including the "Yishan Price" campaign, led to dissatisfaction among existing members, prompting Hema to pause membership renewals [2]. - Hema has achieved its first-ever annual profitability for the fiscal year 2024-2025, with a projected GMV exceeding 75 billion RMB and over 420 operational stores [3]. Group 3: Strategic Shift - The leadership change in March 2024, with a new CEO taking over, aligns with Hema's shift towards a dual-track strategy focusing on replicating successful models and targeting lower-tier cities [3].