告别会员店 盒马转舵下沉

Core Insights - The closure of Hema X membership stores marks a strategic shift rather than a mere reduction in scale, indicating a fundamental change in operational logic to cater to a broader consumer base [3][4][10] - Hema's rapid expansion of X membership stores was initially promising, but consumer dissatisfaction and operational challenges led to a decline in performance, with X membership stores contributing less than 10% to overall sales by 2023 [4][5] - The retail landscape is undergoing significant changes, with a shift towards community-oriented and cost-effective shopping options, reflecting evolving consumer preferences [2][8] Company Strategy - Hema's decision to close X membership stores aligns with its new dual-track strategy focusing on Hema Fresh and Hema NB, targeting lower-tier cities and middle-to-lower-income consumers [8][9] - The company aims to achieve a GMV of 100 billion yuan within three years, with a focus on rapid expansion in lower-tier markets, opening 72 new Hema Fresh stores in 2024 alone [8][9] - Hema's approach emphasizes a systematic collaboration across supply chain, retail, and service systems to meet diverse consumer needs, moving away from traditional retail models [10] Market Dynamics - The closure of Hema X membership stores raises questions about the sustainability of the membership store model in China, especially as other traditional retailers face similar challenges [4][5][6] - Sam's Club continues to thrive in the membership store segment, demonstrating resilience and effective market strategies, while Hema's experience highlights the complexities of operating in this space [6][9] - The downtrend in membership stores reflects broader shifts in consumer behavior and market conditions, with a growing preference for accessible and affordable retail options [2][8]