从“中产神话”到“只逛不买”，无印良品迎来“闭店潮”

Core Viewpoint - MUJI is experiencing a wave of store closures in China, indicating a strategic contraction in the market, driven by challenges such as high pricing, brand trust issues, and competition from local brands [1][4][12] Group 1: Store Closures and Consumer Behavior - MUJI has closed multiple stores in various cities, including the Shimao Gongsan store in Beijing, which is set to cease operations by August 31, 2025 [4] - Observations in stores reveal a trend of "browsing without buying," with many customers using the space for socializing rather than making purchases, highlighting a disconnect between brand appeal and actual sales conversion [6][7] Group 2: Pricing Strategy and Market Position - MUJI's positioning in China targets middle to high-income consumers with a focus on "simple and quality" living, leading to a perception of high prices compared to local competitors [6][7] - Despite implementing eleven rounds of price adjustments since 2014, the perception of MUJI as expensive persists, with consumers noting that even discounted prices remain significantly higher than similar products in Japan [7] Group 3: Legal and Quality Issues - MUJI faces a long-standing trademark dispute with Beijing Mian Tian Textile Co., which has resulted in a Supreme Court ruling that affects its branding strategy [8][11] - Quality issues have also plagued the brand, with numerous complaints regarding product standards and misleading advertising, further eroding consumer trust [9][11] Group 4: Financial Performance and Future Outlook - Despite challenges, MUJI reported a sales increase of 19.2% year-on-year, with a net profit growth of 30.1% for the nine months ending May 31, 2025, indicating a resilient market presence [12] - However, the company struggles with sustainable growth, as frequent store adjustments and pricing strategies have not resolved the core issues of brand positioning and consumer expectations [13]