经济观察报·2025-09-14 04:34Core Viewpoint - The article discusses the rise of hard discount supermarkets in China, highlighting their aggressive pricing strategies and questioning their profitability given the extremely low prices of essential goods like eggs and bottled water [2][4][8]. Group 1: Market Dynamics - Since late August, hard discount supermarkets have gained significant traction, with major players like JD, Meituan, and Alibaba rapidly opening new stores [2][4]. - These supermarkets attract consumers with extremely low prices, such as 30-pack eggs priced at 9.9 yuan and bottled water at 7.9 yuan [2][4]. Group 2: Pricing Comparison - A comparison of egg prices shows that hard discount supermarkets offer significantly lower prices than traditional retailers, with prices ranging from 9.9 yuan at JD to 19.9 yuan at Sam's Club [5][6]. - For soy sauce, the hard discount prices are also lower, with JD's 750ml soy sauce priced at 9.9 yuan compared to higher prices at other retailers [7]. Group 3: Cost Structure and Profitability - Industry insiders indicate that the cost of producing eggs is around 10.2 yuan for 1.5 kg, suggesting that hard discount prices may lead to losses when accounting for logistics and packaging [8]. - The profit margins on bottled water are minimal, with production costs estimated between 0.36 yuan to 0.60 yuan per bottle, making it challenging for supermarkets to achieve profitability [9]. Group 4: Business Model and Strategy - Hard discount supermarkets primarily use low-priced items to drive foot traffic, with the expectation that higher-margin products will compensate for losses on loss leaders like eggs and water [10]. - The operational model emphasizes efficiency through streamlined supply chains, reduced SKU counts, and a focus on private label products to enhance profitability [12][14]. Group 5: Competitive Landscape - Different players in the hard discount space have unique strategies, with Alibaba focusing on first-tier cities and JD targeting lower-tier markets with larger store formats [13][14]. - The success of hard discount supermarkets hinges on balancing extreme price competitiveness with operational efficiency to achieve sustainable profitability in a market projected to be worth 200 billion yuan [14].