山姆也没能逃过“千亿魔咒”

Core Viewpoint - The article discusses the challenges faced by Sam's Club in China after surpassing the 100 billion yuan revenue mark, highlighting a trend where retailers reaching this milestone often encounter difficulties, referred to as the "billion curse" [3][20]. Group 1: Industry Trends - The retail industry in China has seen significant shifts, with many companies experiencing declines after reaching the 100 billion yuan revenue threshold, including Yonghui and RT-Mart, which have faced continuous losses and declining revenues [5][20][22]. - The article notes that the retail landscape has changed, with a shift towards online shopping and new retail formats, impacting traditional large-format stores [32]. Group 2: Sam's Club's Performance - Sam's Club achieved over 100 billion yuan in revenue in 2024, marking a significant milestone, but has also faced criticism regarding product quality and selection [23][24]. - Despite the revenue growth, Sam's Club has seen a 65% increase in complaints related to product quality issues, indicating a decline in consumer trust [26]. Group 3: Membership Strategy - Sam's Club's strategy focuses on maintaining high membership renewal rates, with over 500,000 effective members contributing significantly to revenue [42]. - The company has implemented strict supplier standards and localized product offerings to enhance member satisfaction and loyalty [36][39]. Group 4: Competitive Landscape - Sam's Club faces increasing competition from other membership-based retailers like Costco and local e-commerce platforms, which are gaining market share in both first-tier and lower-tier cities [46][52]. - The article highlights that while Sam's Club has expanded its store count, the average transaction value in lower-tier cities is significantly lower than in first-tier cities, adding financial pressure [48].