Walmart(US:WMT) 凤凰网财经·2025-07-22 14:12Core Viewpoint - The article discusses recent controversies surrounding Sam's Club, particularly regarding the labeling of ingredients in their MM mustard seed meat floss bread, which has led to consumer concerns and discussions about the company's product selection and membership value [1][5][9]. Group 1: Product Labeling Controversy - A recent post by a consumer highlighted that the packaging of Sam's Club's MM mustard seed meat floss bread no longer includes a detailed ingredient list, raising concerns about transparency [1]. - The previous ingredient list did not include "genetically modified soybean oil," which is now present in the online ingredient list [2][5]. - Sam's Club staff acknowledged the issue and stated they would report it to relevant departments for improvement, emphasizing that the product meets sales standards and quality guarantees [7]. Group 2: Membership and Product Selection Issues - Recent discussions on social media indicate that consumers are dissatisfied with Sam's Club's product offerings, feeling that the store is losing its unique selection and becoming more like Walmart [9][11]. - Members have expressed frustration over the reduction of membership benefits, leading some to consider not renewing their memberships [12]. - The company has seen a significant increase in paid memberships, with projections indicating over 9 million members by June 2025, generating substantial membership fee revenue [12]. Group 3: Expansion and Market Position - Sam's Club is rapidly expanding in mainland China, opening an average of 6 to 7 new stores annually, with a total of 53 stores expected by 2024 [14]. - Despite strong sales growth reported by Walmart China, the heavy asset investment model of Sam's Club poses challenges in managing cash flow and balancing revenue, profit, and investment [14]. - The overall performance of the supermarket market in China is underwhelming, raising questions about Sam's Club's ability to maintain its growth trajectory and avoid intense competition as it expands [15].