此前，已有八个欧盟成员国要求欧盟委员会对那些禁止零售商跨国采购的生产商采取干预行动。但时至今日，相关局势几乎没有变化。 穆勒表示，自有品牌的增长也帮助像Ahold Delhaize这样的企业在与A品牌谈判时更具优势，比如与JDE Peet's的谈判。"我们自家也为Perla品牌采 购咖啡，因此有了良好的对比材料。我们也看到这个品牌在门店中的销量在上升，顾客能够感受到它的价值。" 贸易战影响 来源：中荷商报ChinaTimes 除了带来额外的营业额，自有品牌还让超市在了解大品牌商品定价方面获得更多洞察。"在与这些所谓A品牌进行谈判时，这些信息就非常有价 值，"首席执行官弗朗斯·穆勒（Frans Muller）指出。尤其在欧洲，越来越多消费者因对A品牌价格上涨感到不满而转向价格更亲民的自有品牌。 超市与A品牌之间也常有纷争。例如，由于价格谈判僵持不下，Jumbo超市曾长期不销售喜力（Heineken）啤酒；Albert Heijn也一度停售由JDE Peet's供应的Douwe Egberts和Senseo品牌咖啡以及Pickwick品牌茶叶。 联合采购 为应对挑战，Ahold Delhaize正像竞争对手Jum ...

齐鲁晚报·齐鲁壹点记者 管悦 "调改开业至今销售同比增长超400%，成交客流同比提升150%以上。"永辉超市龙湖济南北宸天街店相 关负责人介绍，尤其以烘焙、熟食等鲜食类商品增长明显，精酿啤酒、冰淇淋、西瓜、水蜜桃等夏季时 令商品也备受消费者喜爱。 永辉济南龙湖奥体天街店也已进入闭店调改阶段，近半数商品将被汰换，调整后的商品结构接近胖东来 商品结构的80%。 与此前纯大卖场模式有所不同，新型的零售巨头——盒马鲜生也在场景化体验上做足了文章。当日，记 者在盒马鲜生（印象城店）看到，烤鸭、冷锅串串、现炒小菜等档口前客流不断。店内还设置了海鲜现 场加工区、用餐区等，将"购物+餐饮"场景深度融合，让消费者能享受"即买即食"的"一站式"新鲜体 验。 此前，盒马鲜生印象济南店开业首日仅一个小时就卖出去4条新鲜三文鱼，金枕榴莲销量更是破万元。 从商品结构上来看，盒马鲜生也在向"场景化"倾斜：一方面，大幅提升鲜食比例，如烘焙、熟食、半成 品食材等，满足快节奏都市人群的即食需求；另一方面，强化季节性、区域化选品，如夏季主推精酿啤 酒、冰镇水果切盒，冬季则力推火锅食材套餐。 走访中，不少消费者表示，相比传统商超，现在不少新零售模式 ...

Core Viewpoint - The recent decision by Pang Donglai to recruit ex-offenders has sparked significant public discussion, emphasizing the importance of social reintegration and respect for all individuals, regardless of their past [1][4]. Group 1: Recruitment Initiative - Pang Donglai's recruitment of ex-offenders is rooted in the belief in human kindness and the need for societal respect and care for all groups [4]. - The company aims to help ex-offenders reintegrate into society and live with dignity, viewing them as equal citizens after serving their sentences [4]. - The initiative encourages ex-offenders to adopt a positive outlook on life, learn from their past, and contribute positively to society [4]. Group 2: Company Operations - Pang Donglai currently operates two stores in Xinxiang, Henan Province, known as "Da Pang" and "Er Pang," with a third store, referred to as "San Pang," under renovation and expected to open in October [6][9]. - The company has approximately 4,000 employees across its two existing stores in Xinxiang, with recruitment for the new store yet to officially commence [10]. - The employee turnover rate for Pang Donglai from January to July 2025 was reported at 0.94%, with a notably low rate of 0.14% in July [8].

Core Insights - Hema, a retail giant, announced the closure of all its warehouse-style membership stores, which has garnered significant attention in the market [1] - The CEO, Yan Xiaolei, stated that the closures represent less than 2% of the total stores, as the company aims to focus on its core business and has implemented various store optimization measures since last year [1] - Hema plans to open nearly 100 new stores and expand into over 50 new cities within the current fiscal year [1] - The last Hema X membership store will close on August 31, marking the company's complete exit from the membership store sector [1] - Hema achieved a milestone of profitability for the first time in the last fiscal year [1] - As of March 31, 2025, Hema Fresh is expected to have over 420 stores, ranking third in China's supermarket industry with a GMV of 75 billion yuan [1] Strategic Adjustments - Experts interpret Hema's decision to exit the membership store business as part of a strategic shift towards a dual-line layout, focusing on Hema Fresh for community fresh produce and Hema NB for hard discount models [5] - The closure of Hema X membership stores aligns with the company's previously stated strategy to concentrate on its main store formats and discount stores [5] - This move reflects a broader trend in the retail industry, shifting from "scale expansion" to "efficiency first," as membership stores require larger spaces and higher investments, leading to longer investment return cycles [5] - Hema Fresh and Hema NB have smaller store sizes and lower capital requirements, allowing for quicker profitability, which aligns with the company's current strategic goals [5]

Core Viewpoint - The traditional supermarket industry is under significant pressure for transformation, with many companies exploring quality retail as a key strategy for upgrading and improving sales performance [1][4]. Group 1: Industry Performance and Trends - As of August 10, 2023, four listed companies in the A-share supermarket sector have disclosed earnings forecasts, with one company expecting a net profit increase of 50% to 100%, another anticipating a return to profitability, while two others are projecting losses [1]. - According to the China Chain Store & Franchise Association, by the first half of 2025, chain supermarkets will continue to face substantial development pressures, with less than half of the supermarkets achieving year-on-year sales growth [1][3]. - A survey indicated that 75% of supermarkets attempted transformation in 2024, with 75% of those reporting varying degrees of sales growth [3]. Group 2: Company-Specific Developments - Yonghui Supermarket has initiated a strategic transformation focused on "quality retail," with significant upgrades to store environments and product offerings, including the removal of over 3,900 existing products and the introduction of 1,201 high-quality items [2]. - As of now, Yonghui has completed upgrades in over 150 stores and aims to reach 200 by the end of September 2023, emphasizing high quality and diverse product offerings to meet consumer demands [2]. - Despite facing challenges, including a projected net loss of 240 million yuan for the first half of 2025 due to extensive store renovations, Yonghui remains committed to its reform efforts and plans to raise up to 3.992 billion yuan for further store upgrades [5]. Group 3: Market Dynamics and Challenges - The retail market in China is characterized by significant scale and a multitude of operators, leading to imbalances and intense competition, necessitating optimization and adjustment within the industry [4]. - The shift towards quality retail is seen as both a challenge and a necessary evolution for traditional supermarkets to enhance profitability and brand influence in a competitive landscape [4].

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The report highlights the emergence of differentiated membership stores, such as the WS Jiangtun membership store launched by Wushang Group in Wuhan, which focuses on unique products and services [5][24] - The report emphasizes the importance of emotional consumption themes and recommends high-quality companies in sectors like gold jewelry, offline retail, cosmetics, and medical aesthetics [8][29] Summary by Sections Retail Market Review - The retail industry index reported a decline of 0.38% for the week of August 4 to August 8, 2025, underperforming the Shanghai Composite Index, which increased by 2.11% [14][21] - The jewelry sector showed the highest growth among retail sub-sectors, with a weekly increase of 6.07% and a year-to-date increase of 32.99% [16][19] Retail Insights - Wushang Group's WS Jiangtun membership store adopts a "paid membership + selected products" model, aiming to provide a differentiated shopping experience [5][24] - The store features a dual membership structure with basic and diamond tiers, enhancing customer engagement and loyalty [25] Investment Recommendations - Focus on gold jewelry brands with differentiated product offerings and consumer insights, recommending companies like Laopu Gold and Chaohongji [8][29] - Highlight the potential of offline retail companies that adapt to consumer trends, recommending Yonghui Supermarket and Aiyingshi [8][29] - Emphasize the growth of domestic cosmetics brands, recommending companies like Maogeping and Pola [8][29] - Suggest investment in medical aesthetics firms with differentiated product lines, recommending Aimeike and Kedi-B [8][29] Company Performance Highlights - Laopu Gold achieved a revenue of 8.506 billion yuan in FY2024, with a net profit increase of 253.9% [31][36] - Yonghui Supermarket reported a revenue of 17.479 billion yuan in Q1 2025, with a significant decline in net profit [31] - Chaohongji's Q1 2025 revenue increased by 25.4%, driven by its focus on fashion jewelry [43]

Core Viewpoint - The article discusses the unique business model of Le'er Le, a supermarket chain founded by Chen Zhengguo, which focuses on providing extremely low prices while maintaining profitability through cost control and high sales volume [5][8][9]. Group 1: Company Overview - Chen Zhengguo, born in 1976 in Hunan, started Le'er Le in 2011, inspired by the spirit of "serving the public" from the historical text "Yueyang Tower" [13][17]. - Le'er Le has expanded to over 9,000 stores nationwide, achieving annual sales of 50 billion yuan [9][24]. Group 2: Business Model - Le'er Le's pricing strategy is significantly lower than competitors, with products priced 15%-20% lower than typical supermarkets, yet it maintains a gross margin of 17% [26][27]. - The company operates with a high sales volume model, leveraging cost-cutting measures to ensure profitability despite low prices [28][30]. Group 3: Cost Control Strategies - Chen Zhengguo employs various strategies to minimize costs, including selecting less expensive locations, using minimal store decor, and maximizing store space for inventory [32][35][39]. - The average sales per square meter for Le'er Le's best-performing stores exceed 100,000 yuan annually, compared to the industry average of 20,000-30,000 yuan [40]. Group 4: Supply Chain Management - Le'er Le bypasses lower-tier distributors by negotiating directly with higher-tier suppliers, reducing costs and ensuring a stable supply of products [46][50]. - The company has built strong relationships with suppliers, allowing for quick cash transactions and reliable inventory [50]. Group 5: Market Positioning - Le'er Le positions itself as a value-driven supermarket, focusing on affordability and accessibility for consumers, particularly students [19][23]. - The brand's reputation for low prices has led to rapid word-of-mouth growth, establishing a loyal customer base [20][24].

Core Viewpoint - Hema is shutting down all its warehouse-style membership stores, marking a strategic shift towards focusing on its main business and achieving profitability for the first time in the last fiscal year [1][5]. Group 1: Store Closures and Strategy - Hema's CEO, Yan Xiaolei, announced that the total number of closed stores since last year does not exceed 2% of the overall store count [1]. - The last Hema X membership store in Shanghai will cease operations on August 31, indicating a complete exit from the membership store format [1]. - Hema plans to open nearly 100 new stores within the fiscal year, expanding into over 50 new cities [1]. Group 2: Financial Performance and Market Position - As of March 31, 2025, Hema Fresh is expected to have over 420 stores [1]. - Hema ranked third in China's supermarket sector with a GMV of 75 billion yuan, following Walmart China and RT-Mart, according to the 2024 China Chain Store Top 100 list [1]. Group 3: Strategic Adjustments - Analysts suggest that Hema's exit from the membership store business reflects a broader trend in retail, shifting from "scale expansion" to "efficiency first" [5]. - The closure of Hema X membership stores aligns with the company's strategy to focus on Hema Fresh and Hema NB discount stores, which require less investment and can achieve profitability more quickly [5].

近日，下沙一物美超市发出公告 即将进入闭店调改阶段 说明中提到： 公司总部正在对各项资源 进行统一整合与优化 经过整体评估，决定本店将于 2025年8月4日至8月10日进行出清活动 并于2025年8月10日营业结束后停止经营 8月11日-8月14日进入闭店调改阶段 8月1日物美超市官方公众号发布消息： 物美学习胖东来自主调改又添新成员 8月15日08:00恢复正常营业 此前，浙江首家"学习胖东来"的自主调改店 物美拱墅万达店于6月20日正式焕新开业 这也是物美在华东地区的首个调改样板 整体商品更新率超80%，其中70%为新品，15%为进口商品，满足年轻消费群体的需求。另外，门店员工大幅增加，从原本的50人，增加到150名，另外还 有230名厂商代表，共同为消费者服务。 据悉，物美计划在2025年完成全国30余家重点门店调改。物美杭州拱墅万达店的开业，标志着超市 "胖改" 模式在华东地区的成功落地。 为什么超市们纷纷胖改上头？ "体验驱动消费是核心逻辑。"物美华东公司执行董事长李国辉介绍，北京学清路店作为物美全国首家调改样板店，自3月恢复营业以来，客流和销售额均 成倍增长，平均销售额稳定在调改前的3倍水平，单日 ...

Core Viewpoint - Wumart Huamao Tiandi store has officially opened as the first "Fat Reform Store" in Chaoyang District, significantly enhancing its product offerings and customer experience to attract more foot traffic [1][12]. Group 1: Store Transformation - The store reduced its SKU from 10,000 to 7,000, with 70%-80% of the products replaced, focusing on high-quality items [6][11]. - Fresh produce, ready-to-eat meals, and baked goods have been relocated to the entrance, becoming key attractions for customers [11][19]. - The store's layout has been optimized, including the removal of mandatory traffic flow designs and the widening of aisles to improve shopping comfort [11][12]. Group 2: Customer Engagement - On the opening day, the store recorded a foot traffic of 9,900 visitors, a significant increase from the previous average of 1,000 daily visitors [12][19]. - Over 100 security personnel were coordinated to manage customer flow and reduce congestion during the opening [3][12]. - The store aims to create a stable community commercial environment, emphasizing trust and quality over trendy changes [13][18]. Group 3: Market Positioning - The transformation aligns with the local community's demand for higher quality products, as the area has a strong consumer base with high expectations [19]. - The store incorporates popular products from the "Fat Donglai" brand, but only after careful selection to ensure quality [11][19]. - Future plans include further upgrades to other main stores in the area, enhancing the overall shopping experience for families [18][19].