Walmart(US:WMT) 21世纪经济报道·2025-12-31 11:44Core Insights - The community retail sector in China is undergoing significant restructuring, with the market size approaching 5.2 trillion yuan, attracting numerous players. However, many participants overlook the core demands for "quality certainty" and "scene adaptability," leading to a homogenized low-price competition [1] Group 1: Walmart's Community Store Strategy - Walmart has opened four community stores in Shenzhen and upgraded its app, marking the validation of its "small, refined, and close" community store model and entering a phase of replication and expansion [3] - The community store layout focuses on addressing industry pain points, featuring a "small and refined" model with approximately 500 square meters and 2000 selected products, catering to high-frequency daily needs [5] - Walmart's private label "Wojixian" has been upgraded to emphasize quality, with a focus on simple ingredients and stable quality-price ratios, differentiating itself in a price-driven market [5][7] Group 2: Product Quality and Consumer Focus - Walmart has established a high-standard food safety and quality control management system, ensuring end-to-end quality management through strict supplier and product controls [7] - The "Wojixian" brand emphasizes low-sugar and health-oriented products, responding to consumer demands for both health and trendiness, with innovative offerings quickly gaining popularity [9] - The company does not use private label sales as a performance metric, instead prioritizing customer feedback to drive product development, which is crucial for avoiding homogenization [9] Group 3: Omnichannel Integration - Walmart's community stores target immediate high-frequency needs within a 3-kilometer radius, while its app serves as a primary choice for daily replenishment, demonstrating the effectiveness of its omnichannel strategy [12] - The integration of online and offline channels creates a "collaborative closed loop," where online consumer data informs offline product optimization, enhancing overall retail efficiency [10][12] - Walmart's commitment to a "customer-first" philosophy underpins its operational strategy, ensuring that every action taken is aimed at enhancing consumer value [13] Group 4: Strategic Direction - Walmart's approach focuses on "product strength" and "omnichannel support," avoiding the pitfalls of low-price competition and instead building a differentiated advantage by addressing core customer needs [15] - The company's future development logic emphasizes "customer first, quality core, channel collaboration, and long-termism," guiding the industry towards a new phase of competition based on quality, efficiency, and value [15]