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中产被山姆背刺了一刀
WalmartWalmart(US:WMT) 创业邦·2025-06-25 10:10

Core Viewpoint - The article discusses the challenges faced by Sam's Club in China, particularly regarding product quality issues and the impact of rapid expansion on its operations and customer trust [3][4][10]. Group 1: Sales Performance - In 2024, Walmart China achieved sales of 158.845 billion yuan, a year-on-year increase of 19.6%, despite an 8.5% decline in the number of stores [3]. - Sam's Club contributed two-thirds of Walmart China's performance, with sales exceeding 100 billion yuan in 2024 [4]. Group 2: Product Quality Issues - There has been a notable increase in product quality complaints at Sam's Club, with a 65% rise in complaints on the Black Cat complaint platform in 2024 [9]. - Specific incidents include customers finding foreign objects in products, such as plastic pieces in milk and rubber bands in beef patties [6][9]. Group 3: Membership Demographics - Sam's Club primarily targets middle-class consumers with an annual income of over 200,000 yuan, offering a "privilege club" experience for a membership fee of 260 yuan [6][10]. - The membership base has grown to nearly 9 million, generating over 2 billion yuan annually from membership fees alone [12]. Group 4: Expansion Strategy - Sam's Club plans to accelerate its expansion in China, aiming to open 8-10 new stores annually after 2025, following a significant increase in store openings in recent years [12][20]. - The rapid expansion has led to operational challenges, including quality control issues and management inefficiencies [10][12]. Group 5: Competitive Landscape - Sam's Club faces increasing competition from both international brands like Costco and local retailers such as Yonghui and Hema, which are encroaching on its market share [20][21]. - The membership model, while successful, presents challenges in maintaining high renewal rates, especially as consumers have more options [23][24].