“盒马X会员店”全线关停！最后一家门店8月31日停止营业

Core Insights - Hema X membership stores will completely shut down by the end of August, marking their exit from the market after less than five years of operation [1][8] - The membership store model was initially seen as a potential second growth curve for Hema, aiming to compete with Costco [3][4] - Despite rapid expansion, Hema X faced challenges in differentiating its offerings and maintaining competitive pricing, leading to consumer dissatisfaction [4][6] Group 1: Business Performance - Hema X membership stores opened their first location in Shanghai in October 2020 and expanded to 10 stores across major cities by October 2023 [3] - The average SKU count for Sam's Club is around 4,000, with strict selection criteria, while Hema X struggled with product differentiation [4] - Hema X's pricing strategy faced criticism, with some products priced higher than in regular stores, contradicting the value proposition of membership [4][6] Group 2: Strategic Adjustments - Hema's overall sales contribution from X membership stores remained below 10%, prompting a strategic shift under the current CEO [6] - The company plans to open nearly 100 new Hema Fresh stores by 2025, focusing on county-level markets, and aims to establish 300 Hema NB stores within three years [6] - Hema is not abandoning its membership system; it plans to collaborate with Taobao 88VIP for promotional activities and maintain a selection of exclusive products [8]