山姆版的这一刀，不光砍向了获客方式，也砍向了由会员费获得的利润。 这个世界上有两种零售商。 一种"端庄高雅"，以货物品质、服务品质著称。一种疯狂吆喝，卖的是实惠，赚的是规模。 前者的极致，是会员商店。大家都是"打开门来做生意"，但他们却把大门紧闭，必须掏钱才能进场。曲高和寡回报则是丰厚的会员费所带来的利润，山姆 CEO在播客中表示，山姆会员店有一半的利润来自会员费。 但这个数据，也许快要过时了，因为部分利润被用来"砍一刀"了。 眼下，山姆也学习了拼多多式的自我裂变营销，让用户彼此拉新，并返利奖励他们。刚刚过去的2025年，根据山姆公布的销售额及卓越会员贡献比例等数 据测算，仅仅是山姆瓜分给卓越会员返利金的返利，高达16.8亿元，接近占会员费收入的五成。 山姆玩起了砍一刀，但也"砍了自己一刀"。 01 山姆版的砍一刀 最好的增长，永远是用户的自我裂变。 当年拼多多的"砍一刀"成功把拉黑多年的前男友、多年不联系的小学同学、卧病在床多年的老年人统统变成了新用户。 如今的山姆也通过返利实现了"隐形拉新"。山姆在2024年8月正式推出回馈金机制，规则很复杂，但结论很清晰：通过拉客的形式，每月最高能获得800元 的返利奖 ...

每一个成功的男人背后都有一位能力超群的合作伙伴，雷军的背后就是小米的"2号人物"林斌。 12月28日，小米集团在港交所公告，公司联合创始人、执行董事、副董事长林斌，计划自2026年12月开 始，每12个月出售金额不超过5亿美元的公司B类普通股，累计出售总金额不超过20亿美元。 此消息一出，立即引起资本市场关注，12月29日，小米集团盘中跌超3%，收跌1.63%，报38.58港元/ 股，最新市值为10049亿港元。 而除了减持事件本身的影响外，还有一层原因是林斌的特殊身份。他是小米的2号员工，更是毋庸置疑 的"2号人物"，与雷军共同打下小米的"江山"。 时间回溯到20年前，彼时程序员出身的林斌已是"技术大拿"，曾先后在微软、谷歌任职，2009年，因工 作交集，林斌与雷军相识，在雷军的游说下，林斌很快决定与雷军共同创业。 而梳理小米的关键发展节点，林斌均起到了不小的作用。在创业初期，林斌便为小米"招兵买马"，众所 周知的小米"七剑客"中，周光平、黄江吉、洪锋三位都是由他引荐而来。 团队成型后，林斌负责小米的供应商战略合作、运营商业务、海外销售等工作。2014年前后，小米正大 力发展线上销售，林斌接手小米的电商业务 ...

Core Viewpoint - The emergence of AI Agents can significantly assist sellers in addressing labor duplication issues, potentially transforming the landscape of the cross-border e-commerce industry [1][4]. Industry Changes - Over the past year, the cross-border e-commerce industry has shifted from a competitive "red sea" to a "blood sea," with rising operational costs due to increased advertising and logistics expenses, alongside intensified competition from platforms like Temu and Amazon [2]. - The industry has experienced three major changes over the last 15 years: the evolution of products, platforms, and operational strategies [5]. Competitive Landscape - The intense competition in the cross-border e-commerce sector is characterized by revenue growth without profit increase, as seen in Shein's projected sales of $38 billion in 2024, a 19% increase from 2023, while net profit is expected to drop by 40% to $1 billion [6]. - The efficiency of labor has declined, with average annual output per employee dropping from $500,000 to approximately $20,000 [6]. Need for Transformation - The industry is facing a necessity for transformation due to rising tax costs and the unsustainable nature of relying solely on human labor and simple replication models [9]. - Future directions for the industry include deep AI empowerment and a return to the essence of retail, focusing on products, brands, channels, and customers [9][10]. AI Agent Implementation - AI Agents can replace repetitive tasks traditionally performed by a large workforce, as demonstrated by a case where a company reduced its staff from 200 to 40 while doubling its sales from approximately $300 million to $600 million [15][18]. - AI Agents are designed to autonomously execute tasks based on established Standard Operating Procedures (SOPs), enhancing efficiency and reducing the need for extensive human involvement [16][18]. Company Adaptation - Companies in the mid to upper tiers of the industry are encouraged to adopt long-term planning and transition towards product-oriented and customer-driven models [20]. - Companies with a fragmented operational model may find it challenging to implement AI Agent transformations effectively [21]. Cost Reduction and Profitability - The cross-border e-commerce industry typically sees labor costs account for 15% to 25% of Gross Merchandise Value (GMV), and transitioning 50% of these roles to AI Agents could significantly reduce costs and enhance profitability [22]. - In addition to labor savings, utilizing AI Agents can lead to decreased marketing expenses and improved brand exposure [23]. Future Competitiveness - Companies that excel in developing and implementing SOPs will have a competitive advantage in the evolving landscape of cross-border e-commerce [27][37]. - The integration of AI Agents is expected to create a scenario where larger companies become even stronger, leveraging AI to enhance their operational capabilities [37][38].

Core Viewpoint - Xiaomi's television business has experienced significant ups and downs, with its rise to the top being attributed to a combination of market conditions, strategic decisions, and competitive dynamics, while its recent decline is linked to changing market environments and internal strategy shifts [2][25][34]. Group 1: Xiaomi's Television Journey - In 2012, Xiaomi aimed to enter the internet television market by leveraging supply chain efficiencies to offer competitive pricing, initially targeting a 60-inch TV at a significantly lower price point [6][8]. - The initial collaboration with Foxconn did not materialize, leading Xiaomi to develop its first television with a unique dual-chip design to support both online streaming and traditional broadcasting [10][11]. - From 2013 to 2016, Xiaomi struggled against LeEco, which had a stronger content strategy and manufacturing support from Foxconn, resulting in lower sales figures for Xiaomi [13][15][16]. Group 2: Rise to Dominance - In 2017, following LeEco's financial troubles, Xiaomi capitalized on the market gap, achieving a 99% year-on-year growth in television sales, ultimately becoming the market leader by mid-2019 [19][20]. - Xiaomi's success was driven by a shift in product strategy, focusing on delivering high-quality features at competitive prices, particularly with the introduction of the 55-inch television model [21][22]. - Strategic partnerships with suppliers like TCL and effective marketing strategies helped Xiaomi solidify its position in the market [23][24]. Group 3: Decline and Challenges - After peaking in 2019, Xiaomi's television market share began to decline due to market saturation and increased competition from established brands like TCL and Hisense [25][26]. - The introduction of new regulations and a shift in focus from internet-based revenue models to hardware sales negatively impacted Xiaomi's profitability in the television segment [26][31]. - The company's strategic pivot towards high-end products and reduced marketing expenditures in the face of rising competition further diminished its market competitiveness [27][34]. Group 4: Future Outlook - As of late 2024, Xiaomi's overall smart home appliance revenue has grown significantly, particularly in the air conditioning segment, raising questions about the future of its television business [29][30]. - Analysts express skepticism about Xiaomi's ability to reclaim its former glory in the television market, citing the rapid technological advancements and competitive advantages held by traditional manufacturers [31][33]. - The internal perception of the television business as a low-margin segment has led to a strategic de-emphasis, with resources being redirected towards more profitable ventures like air conditioning [34].