结构优化与品质跃升：商品力革新重塑"圣地"生活样本 此前，延安首家"胖改店"万达广场店开业取得的亮眼成绩，为此次调改提供了有力注脚：首月销售额同 比增长近220%，客流同比增长超170%。其中，车厘子、草莓、南美对虾、鲜猪肉及胖东来特色商品、 永辉自有品牌销售表现尤为突出，充分印证了"优质平价"理念与本地消费升级需求的深度契合，也展现 了"胖改"模式强大的市场号召力与增长潜力。 本次调改的核心动作，是对商品池进行了一次"大刀阔斧"的重构。门店原有的9596支商品中，下架了 4299个单品，同时精心引入了4416支新品，新增商品比例高达45.5%。调整后，整体商品结构已达到胖 东来的80%，进口商品占比达到10%，实现了在"优质平价"总纲下的品质跃升与体验扩容。 在生鲜板块，革新尤为显著。蔬菜区采用"散标结合"的精细化运营，结构上不仅围绕"民生引流"和"本 地鲜"，更引入了"霜打菜"概念，并打造了多个亮点系列：引入"芸岭鲜生"品牌有机菜，满足高端需 求；"地标好物"呈现安丘大葱、阳雀湖辣椒等风味特产。水果区则强化了即时消费体验，增加了果切、 果汁、冷泡茶及甘蔗果切系列，开业期间，双J级车厘子、新鲜草莓、砂糖桔、 ...

哈喽，大家好，今天小睿就带大家拆解永辉的 "胖东来式自救"：一边是网红调改店人潮涌动，一边是 百亿亏损、现金流告急，这场转型真能救命吗？ 2025年的商超行业，永辉超市的转型大戏格外吸睛。 上海、无锡等地的调改门店里，胖东来自有品牌专区前排起长队，1.6米高的低矮货架、免费绞肉切片 服务、标注食用顺序的果切区，处处透着"胖东来同款"的温情。 这份热闹背后，却是这家零售巨头五年亏百亿、资产负债率逼近90%的残酷现实。 调改店的热闹与财务报表的冰冷，构成了永辉2025年最鲜明的反差。 从表象看，转型似乎初见成效：截至2025年9月底，全国450家门店中222家完成调改，上海开业满3个月 的稳态调改店已实现整体盈利，北京、苏州等地的调改店也纷纷进入盈利区间。 无锡惠山万达店开业时，商品汰换率近50%，80%参照胖东来标准选品，进口商品占比提升至13%，鲜 食品类占比翻倍，开业首日便吸引大量市民打卡。 这些细节让市场看到了转型的希望，也直接催生了12月股价的三连板行情，市值一度冲回470亿。 但股价的狂欢终究掩盖不了现金流的窘迫。 三季报显示，2025年前三季度永辉经营现金流仅11.4亿，同比下滑近70%，其中第三季 ...

在南昌市持续推进消费提质扩容、全力稳就业促发展的政策背景下，永辉超市积极回应市场需求，加快在赣零售网络升级步伐。12月25日，永辉超市南昌 新城控股集团新建吾悦店将完成为期数周的"胖东来模式"深度调改并焕新开业，门店位于新城控股集团新建吾悦广场负一楼，经营面积近2700平方米，作 为新建区首家"胖永辉"，其开业标志着永辉在南昌区域的品质零售转型与精细化布局进入新阶段。 商品结构全面优化，品质与特色并重调改的核心在于商品力的重塑。门店负责人刘国军介绍，"本次调改对原有商品进行了大幅梳理与更新，新增商品 3400余支。调整后，整体商品结构达到胖东来的80%，进口商品占比达12%，商品组合更趋科学、合理，核心是围绕顾客的真实需求做精选和提升。" 为满足消费者对高质价比品牌商品的追求，门店专门设立了胖东来自有品牌专区，引入了包括DL啤酒、自由·爱白酒、DL果汁、DL燕麦片等30余款人气 商品，并结合本地消费特点，上架江西麻姑米粉、四特东方韵酒等本土特色好物。 同时，永辉自有品牌"品质永辉"系列也强势亮相，例如品质永辉头道特级生抽，仅萃取第一道原汁，采用传统工艺足期发酵，实现特级品质与减盐健康； YONGHUI东北长粒 ...

永辉超市相关负责人表示，金桥六路店的成功调改，标志着其"胖东来模式"不仅适用于县域与核心商 圈，更能完美融入社区肌理，满足"最后一公里"的品质生活需求。此次新店开业为自然界、藏珑、浐灞 半岛、紫陌新泽等周边社区的家庭，打造了一个"步行可达"的品质生活中心，未来，永辉将持续坚守品 牌承诺，深耕西安社区。 人民财讯12月21日电，记者从永辉超市（601933）获悉，继今年7月5日西安市浐灞首店——永辉超市北 辰东路店创下开业首月销售额近100%增长、客单价提升近40%的成绩后，永辉超市于12月20日开出区 域第二家"胖永辉"——金桥六路店。据了解，本次调改商品层面完成系统性重构，从原有8663支商品中 优化下架3759支，同时引入新品4483支，新品占比高达47.8%，调整后，商品结构已达到胖东来模式的 80%，进口商品占比达10%。 ...

Core Insights - Yonghui Supermarket officially opened its Jin Qiao Liu Lu store in Xi'an on December 20, marking its second "Fat Yonghui" store in the region after the successful launch of the Beichen East Road store in July, which saw nearly 100% year-on-year sales growth and a nearly 40% increase in average transaction value in its first month [1][2] Group 1: Store Opening and Performance - The new store represents a strategic expansion of Yonghui's presence in Xi'an, specifically targeting community needs and enhancing local living standards [2] - The first store in Xi'an achieved impressive sales figures, indicating strong market demand and effective business strategy [1] Group 2: Product and Service Strategy - The store underwent a comprehensive transformation focusing on "product first, service enhancement," resulting in a systematic restructuring of its product offerings [1] - Out of 8,663 original products, 3,759 were removed, while 4,483 new products were introduced, leading to a new product ratio of 47.8% [1] - The product structure now aligns with 80% of the "Fat Donglai model," with imported goods making up 10%, aiming to position the store as a "community quality supermarket" [1] Group 3: Brand Commitment and Future Plans - Yonghui Supermarket's management emphasized that the successful transformation of the Jin Qiao Liu Lu store demonstrates the adaptability of the "Fat Donglai model" to community settings, fulfilling the "last mile" quality living needs [2] - The company plans to continue its commitment to high-quality retail, deepening its community engagement in Xi'an and enhancing the daily lives of local families [2]

12月29日，永辉超市（601933）江宁宝龙广场店即将开业，这是在南京采用"胖东来模式"的首家全新门店。想象一下——在宽敞明亮的超市里，你能买到 正宗的胖东来严选商品，享受堪比五星级酒店的人性化服务，还有令人惊喜的本地特色美食等着你！ 这家新店可谓是"胖东来精华版"——不仅引进了60多种爆款商品，更将胖东来80%的商品结构"搬"到了南京。从DL精酿黑啤酒到DL橙汁，从网红韩式炸 鸡到高颜值甜品，这里应有尽有。 更有意思的是，超市还玩起了"融合创新"：既有河南特色，又不失南京风味。你在品尝东来同款美食的同时，还能买到地道的南京盐水鸭、六合猪头肉， 真正做到了"舌尖上的融合"。 玲琅满目的商品。 超市内整齐的货架。 "之前看网上胖东来的视频，特别想尝尝他们的精酿啤酒和燕麦脆，现在终于不用跑那么远了！"家住麒麟的刘女士已经迫不及待。 走进这家超市，你会发现处处都是小心思。 货架变"矮"了，所有货架降至1.6米，视线更开阔；通道变"宽"了，取消强制购物动线，推着购物车也能轻松转身；服务更"暖"了，买肉免费切配，买鱼帮 忙宰杀，调味区还贴心地备上了放大镜；休息区更"全"了，直饮水、微波炉、充电宝一应俱全，逛累了随时歇 ...

岁末迎新，金陵商业版图再添亮色。12月29日，永辉超市南京江宁宝龙广场店将正式开业。这不仅是一 家新店的启幕，更是永辉在南京打造的首家全新胖东来模式门店，标志着"品质永辉"战略在南京市场从 存量改造迈入了全新拓展阶段。 此次开业的江宁宝龙广场店，从规划之初便深度贯彻胖东来模式的精髓，围绕"商品力、体验感、人情 味"三大核心，旨在为麒麟科创园及周边约40万居民构筑一个高品质、高性价比的社区生活中心。 新店配置了近120人的团队，并致力于提升员工幸福感：工作满一年可享10天带薪年假，配备完善的休 息、培训空间及免费员工餐。 从江北、河西到如今的江宁，永辉"胖东来模式"的每一步落地，都在重新定义南京的社区零售体验。 南京晨报/爱南京记者 杨静 据了解，江宁宝龙广场店彻底重构商品体系，精心规划了超8400支商品的丰富矩阵，其中胖东来同款商 品达60余支，整体商品结构达到胖东来商品结构的80%。 亮点之一的胖东来自有品牌专区，将汇集DL精酿黑啤酒、DL橙汁、DL燕麦脆礼盒等多款口碑商品，让 市民无需远赴河南，便能轻松体验源自胖东来的品质好物。同时，永辉自有品牌"品质永辉"系列也将悉 数亮相，涵盖粮油、橙汁、洗衣液、纸品 ...

Core Viewpoint - The opening of the first "Pang Dong Lai model" reform store in Tongcheng, Anhui, marks a significant step for Yonghui Supermarket in enhancing its presence in county markets, offering a new quality consumption experience to local residents [2][3]. Group 1: Store Features and Upgrades - The store covers over 2,900 square meters and has undergone a comprehensive upgrade in product structure, environment layout, and service experience [3]. - The product assortment has been significantly optimized, with 4,819 items removed and 4,932 new items added, resulting in a new product structure that aligns with over 80% of Pang Dong Lai's offerings [3]. - The fresh food section has been upgraded to include high-quality seasonal fruits and organic vegetables, ensuring traceable and safe food sources [8]. Group 2: Pricing and Product Quality - The store maintains a "high-quality and affordable" strategy, with prices for essential goods such as cabbage at 0.39 yuan per jin, Akesu apples at 3.99 yuan per jin, and live bass at 13.9 yuan each [9]. - A dedicated "Pang Dong Lai brand area" features nearly 60 popular products, allowing local consumers to access previously hard-to-find items [6]. Group 3: Customer Experience Enhancements - The shopping environment has been optimized for comfort, with wider aisles and lower shelf heights for better visibility and accessibility [15]. - Customer amenities include a rest area with free health measurement services, enhancing the overall shopping experience [18]. Group 4: Employee Welfare and Community Impact - The store has increased its staff from 91 to 145, providing improved employee benefits such as paid annual leave and profit-sharing opportunities [18]. - The opening of the Tongcheng store represents a successful implementation of the "Pang Dong Lai model" in county markets, contributing to local commercial innovation and consumption upgrades [18].

Core Insights - The opening of the Yonghui Supermarket in Tongcheng marks the first implementation of the "Pang Dong Lai model" in the Anqing county market, aiming to enhance the quality of consumer experience for local residents [2][12] Group 1: Store Renovation and Upgrades - The store renovation focuses on four key dimensions: product structure, shopping environment, service experience, and employee care [4] - The product structure has been significantly optimized, achieving over 80% alignment with the Pang Dong Lai standards, featuring a dedicated area for nearly 60 popular products [6] - The shopping experience has been qualitatively improved with wider aisles, lower shelves for better visibility, and various customer-friendly facilities [9] Group 2: Employee Welfare and Engagement - The number of employees has increased post-renovation, with benefits including 10 days of paid annual leave after one year of service, free meals, and rest areas [11] - Employees will also have the opportunity to participate in profit sharing once the store becomes profitable, enhancing service motivation and team cohesion [11] Group 3: Overall Impact and Expectations - The renovation of Yonghui's Tongcheng store represents a solid exploration and practical application of the "Pang Dong Lai model" in county markets, introducing a quality lifestyle and warm service [12] - The store is set to officially reopen on December 19, marking a new chapter in quality consumption for the Tongcheng community [12]

文 | 略大参考 钱多多 编辑 | 杨知潮 永辉在学习胖东来的时候，关闭了低效门店，发展了自有品牌，就连物流仓储也升级改造。但除此之外，胖东来还是个腰间挂满钥匙的"河南房东"。 但是，叶国富忘记胖东来不仅能依靠卖红薯条赚钱，更能赚房租费。 胖东来的品类几乎涵盖了所有日常生活需求，叠加上胖东来的品牌效应，大量人群的聚集，让胖东来周围的每一间物业，都极具商业价值。 胖东来是个名副其实的"房东"。据不完全统计，大胖、小胖、北海店、金三角店、时代广场店、天使城胖东来所在的商场，均为胖东来旗下自有。胖东来 通过联营方式，把本应收取的固定房租转化为与DQ、名创优品等品牌的销售返点分成。 作为河南知名企业，胖东来销售额巨大，还是一座："文化地标"，能够带动消费者来河南旅游的积极性。在这一背景下，胖东来在拿地等方面具备明显优 势，叠加上自身强大的流量，很容易形成一种品牌+商业地产的商业模式。 相比之下，永辉像个外来打工的老实人，不仅门店，就连物业也多是出租的。房租收入给了胖东来让利员工的从容，也让永辉的调改里，体现出了一 点"小马过河"的意味。 01 学胖东来，但没带房本 叶国富在胖东来买炸红薯条的时候，感受到胖东来的优质服 ...