炒货刺客，在山姆跌了一跤

Core Viewpoint - The recent controversy surrounding Sam's Club's introduction of Xueji snacks, specifically roasted chestnuts and sweet potatoes, highlights the tension between premium pricing and consumer expectations for value in the snack industry [1][3][19] Company Overview - Xueji Snacks began as a small stall in Jinan, Shandong in 1992 and has evolved into a national brand with over 1200 stores, focusing on high-quality snacks [4][9] - The brand has gained significant attention and investment, securing 600 million yuan in Series A funding in 2022, with plans to expand to 4000 stores within five years [9][19] Product Strategy - Xueji's product offerings include traditional snacks like sunflower seeds and peanuts, as well as innovative items like milk dates and fruit snacks, catering to changing consumer preferences for health and quality [4][6] - The company emphasizes freshness and quality, sourcing ingredients from key regions and employing advanced processing techniques [6][9] Market Trends - The Chinese snack market is projected to reach approximately 1.4 trillion yuan in 2024, with a growth rate of 5.3%, indicating a robust demand for premium snacks [6][9] - Despite the growth potential, the industry faces challenges as consumer preferences shift towards value and quality, leading to a decline in sales for some high-priced brands [10][19] Consumer Sentiment - There is a polarized consumer response to Xueji's pricing strategy, with some praising the quality and affordability compared to traditional stores, while others criticize the high prices and perceived decline in product quality [3][11][19] - Concerns have been raised about the use of additives in some products, leading to negative perceptions among health-conscious consumers [11][12] Competitive Landscape - Xueji faces increasing competition from other snack brands that emphasize freshness and quality, which may dilute its core advantage [12][19] - The brand's expansion strategy includes opening up to franchise opportunities and enhancing its online presence to reach a broader audience [16][18] Financial Performance - Xueji's store expansion has not met initial targets, with only 736 stores opened by the end of 2022, and fewer than 200 new stores added in 2023 [14][19] - Other premium snack brands, such as Liangpinpuzi and Three Squirrels, are also experiencing revenue declines, indicating a broader trend in the high-end snack market [14][19]