Group 1 - The core viewpoint of the article is that Hema is committed to rapid expansion, aiming to open 100 new stores within the fiscal year, which will bring the total number of Hema stores to over 500 [1] - Hema has refuted rumors regarding store closures, clarifying that it closed 10 experimental X member stores, which account for less than 2% of its total store count [1] - Hema has redefined the domestic retail landscape over the past decade with its unique business model, achieving its first annual profit as reported in Alibaba Group's fiscal year 2025 report [1] Group 2 - Hema Fresh operates over 420 stores, and in July, it ranked among the top three in the "2024 China Supermarket Top 100" list with an annual sales revenue of 75 billion yuan [1]

Core Insights - Hema Fresh plans to open nearly 100 new stores within the fiscal year, expanding into over 50 new cities, which will bring the total number of stores to over 500 [1][3] - The company has experienced significant growth, with a reported GMV of 75 billion RMB, ranking third among supermarkets in China [1] - Hema's rapid expansion and introduction of global quality products reflect a positive outlook on domestic consumption trends [3][9] Store Expansion - Hema Fresh has opened its first stores in several cities including Taizhou, Suzhou, Tianjin, Tangshan, and Suining in the first half of the year [3] - The company has defined a new generation of supermarkets with features like seafood, fresh produce, and self-checkout, becoming a standard in the industry [3] - The focus for 2024 will be on Hema Fresh and community discount stores, aiming for faster and healthier growth [3] Membership Growth - Hema has integrated into the Taobao 88VIP system, resulting in a doubling of its membership numbers, indicating a vibrant consumer market [5] - The Hema X membership program offers benefits such as discounts and exclusive coupons, enhancing customer loyalty [5][6] - The influx of over 50 million Taobao 88VIP members is expected to accelerate Hema's membership growth significantly [5] Product Quality and Supply Chain - Hema has invested in building a robust direct sourcing system, establishing 8 supply chain centers and over 300 direct sourcing bases [7] - The company aims to provide high-quality products at competitive prices, enhancing the shopping experience for consumers [9] - Hema's strategy includes leveraging technology and innovation to offer better products and services [9]

过去一年，盒马转向聚焦盒马鲜生和社区折扣店两个主力业态，陆续退出X会员店等探索型项目。 此前，上海证券报记者咨询盒马App官方客服得知，盒马X会员店最后一家开业门店上海森兰店将于 2025年8月31日起停止营业。（详见往期报道盒马X会员店将全部停业） 与此同时，盒马鲜生开足马力拓新店。今年上半年，先后在泰州、宿州、天津、唐山、遂宁等多城开出 首店，掀起人潮汹涌的"首店效应"，为当地城市注入新消费活力。同时，盒马自身的经营发展也在不断 向好。 8月7日，盒马公布了最新开店计划：盒马鲜生计划本财年内开出近100家门店，新增超过50个覆盖城 市，届时，盒马鲜生门店数将超过500家。 盒马CEO严筱磊表示，看好中国内需消费市场的广阔前景，以"满足消费者日益增长的对美好生活的向 往"为使命，继续坚持用户至上的经营理念。"坚持好商品、好服务是我们过去积累的宝贵经验，也是支 撑未来盒马持续发展的基础。" 自2016年在上海金桥开出第一家盒马鲜生门店以来，盒马鲜生事实上定义了新一代超市的基本形态—— 海鲜水产、短保生鲜、快手菜、自助结账，以及线上线下一体化的经营方式，成为超市行业标配。 作为盒马的主力业态，盒马鲜生目前分布在 ...

Core Insights - The new CEO of Hema, Yan Xiaolei, announced plans to open nearly 100 new stores within the fiscal year, aiming to exceed a total of 500 stores [1] - Hema has seen a doubling of its membership numbers after integrating its membership system with Taobao's 88VIP [3] - Hema has shifted its focus to its main business models, Hema Fresh and community discount stores, while closing its X membership stores [4] - The company achieved its first annual profit in the last fiscal year, with a projected GMV of over 75 billion yuan for the fiscal year 2025 [5] Group 1 - Hema plans to open nearly 100 new stores, aiming for a total of over 500 [1] - The integration with Taobao's 88VIP has led to a doubling of Hema's membership [3] - Hema is focusing on Hema Fresh and community discount stores, closing the last X membership store [4] Group 2 - Hema achieved its first annual profit, with a projected GMV of over 75 billion yuan for fiscal year 2025 [5] - The company ranked third in China's supermarket sector based on GMV, following Walmart China and RT-Mart [5] - Hema aims to enhance customer experience through technology and innovation while expanding its store network [5]

Group 1 - The core viewpoint of the articles highlights that Hema has entered the top three in the "2024 China Supermarket Top 100 List" and is entering a new growth cycle after becoming a benchmark in the retail sector [1] - Hema plans to open nearly 100 new stores within the fiscal year, expanding to over 50 new cities, which will bring the total number of Hema Fresh stores to over 500 [1] - Hema's CEO emphasizes the importance of good products and services as the foundation for the company's sustainable development, while expressing confidence in the vast potential of China's domestic consumption market [1] Group 2 - Hema has shifted its strategic focus towards Hema Fresh and community discount stores, gradually exiting exploratory projects like X membership stores [1] - The company has successfully opened its first stores in multiple cities, creating a "first store effect" that boosts local popularity [1] - As of March 2023, Hema Fresh has established 420 stores across more than 50 cities in regions including North China, East China, South China, and Southwest China [1] Group 3 - Alibaba Group's 2025 fiscal year report indicates that Hema's GMV for the fiscal year 2024-2025 exceeded 75 billion yuan, marking the first time Hema has achieved annual profitability [2]

更深层次的问题在于，盒马会员店没有走出"超市思维"。会员店是一种回报周期较长的业态，需要慢慢打供应链基础、培养消费者粘 性。而盒马会员店诞生较晚，优质供应商早已被山姆、开市客等瓜分，供应链基础薄弱。同时，盒马同时运营多种业态，难以在会员 店这一细分领域投放太多精力，导致会员店商品同质化严重，自有品牌渗透率低。 然而，好景不长，盒马会员店逐渐显露疲态。尽管盒马内部曾将分管会员店的盒马MAX事业部视为公司重点发力方向之一，并计划 在2023年前开出50家店，但实际情况却远未达到预期。至2023年，盒马会员店规模迎来峰值，但仅有10家店，且对盒马整体的销售额 贡献占比不到10%。 消费者对于盒马会员店的热情消退，主要源于商品同质化和会员权益感知不足。盒马会员年费与山姆持平，但商品却缺乏差异化，消 费者难以感受到付费的回报。一位上海消费者在接受采访时表示，盒马会员店产品无特色，不如山姆的烤鸡和瑞士卷等网红产品吸引 人。盒马会员店还曾陷入"杀熟操作"争议，同一款商品会员与非会员价格差异明显，损害了会员利益。 盒马会员店，这一曾被寄予厚望的新零售业态，终将落下帷幕。据经济观察报报道，盒马位于上海的全国最后一家X会员店将于 ...

会员制超市最近处于风口浪尖。此前，山姆屡屡出选品争议，这两天"盒马会员店将全部停业"的消息又 冲上热搜。实际上，关闭会员店是盒马的主动所为。早在2024年底，盒马就已宣布，会员制超市模式将 逐渐退出，未来将聚焦盒马鲜生和盒马邻里两个核心业务。 其实这并非偶然，任何细分市场的容量都是有上限的，过去几年，山姆在国内切中了相当一部分高净值 人群的选品购物需求，同时还满足了中高端消费者的情绪价值，因此实现了高速增长，但成也会员、败 也会员，当会员增长逐渐迫近天花板，再叠加降本增效的压力，以山姆为代表的会员制商超，在中国市 场也就站在了一个十字路口：是继续扩张，设法做大"高端市场"的蛋糕，还是转变成相对"小而美"的精 英模式来巩固住原来的忠实客群？换作是你，这道题会怎么选呢？ 高端会员制超市到底在中国是否行得通？会员制超市在中国，是一种区分消费群体的手段。就像山姆所 强调的，要"为精英生活提供高品质商品"，通过260块钱的会员费，把更看重商品品质、对价格没那么 敏感的这一群人筛选出来，可以说，山姆中国的护城河就是相信"山姆严选"的这一群人。而对于盒马会 员店来说，看起来就有点"两头不到岸"，虽然说是想对标山姆与Cost ...

（编辑 王雪儿） 证券日报网讯 武商集团8月6日在互动平台回答投资者提问时表示，WS江豚会员店是武商集团转型突破 的重要战略步骤，是进入新赛道的重要举措。付费会员制业态与传统型超市业态目标客群不同、商品不 同、服务不同，更不存在竞争。 ...

撰稿人：李若曦｜编辑：王晨宇｜出品：消费通识研究社 在刚过去的这个假日，多个社交平台再次被一则山姆代购"在厕所分装蛋糕"的视频刷屏。这则视频引发了两种声音的激烈碰撞：一种是"代购扰民"的愤怒， 另一种则是"代购正在解放消费"的赞许。无论立场如何，一个趋势已经不可否认——山姆，正在以一种"非官方"的方式加速渗透进中国的三四线城市，乃至 县域市场。 从"中产专属"到"全民共享"，山姆商品正在被重新定义 作为美国最成功的会员制仓储超市之一，山姆会员店一直以"低价+大包装+家庭消费"为特色，深受一线城市中产家庭追捧。但对更广大的人群而言，高昂 的年费、郊区的选址以及"整箱整包"的商品形式，长期以来都将他们挡在了这场消费盛宴之外。 然而，消费不会等待渠道的下沉，需求总会自行找到出口。于是，"山姆代购"应运而生，并在短短两三年内形成了从线上海淘式代购、社区团购、朋友圈接 龙，到如今线下"分姆店"遍地开花的现象级演进。 根据不完全统计，部分热门城市的地铁口、大学城附近，已经出现了规模不一的"山姆代购集合店"，部分还引入了试吃区、盲盒专区、会员体系等，初步具 备了"小型山姆体验中心"的雏形。 尽管代购这一行为原本属于"非正式 ...

与此同时，传统商超行业正经历着整体衰落。老牌连锁超市巨头人人乐面临退市危机，其连续多年亏损，门店数 量大幅减少。相比之下，会员制超市和仓储式超市正成为市场的宠儿。山姆会员店在国内市场发展迅速，然而近 期却因商品选品问题引发争议。 近日，社交平台上热议的话题之一是全国最后一家盒马X会员店即将关门的消息。据悉，盒马X会员店上海森兰商 都店将于8月31日正式停止营业，此店原本是全国范围内硕果仅存的盒马X会员店。 探访过程中，记者注意到，尽管门店即将关闭，但仍有一些顾客前来购物。部分顾客表示，由于店内商品正在降 价销售，他们趁机前来采购一些需要的商品。然而，顾客数量并不多，记者在店内停留的半小时内，仅有五位顾 客进店，其中两位成功完成消费。 盒马X会员店自2020年10月在上海开业以来，曾被视为盒马的"第二增长曲线"，并对标Costco的会员店业务。在短 短几年内，盒马X会员店一度快速扩张，先后在北京、南京、苏州等地开设门店。然而，如今却全部停业，令人 唏嘘。 盒马X会员店的会员制度分为258元/年的黄金会员和658元/年的钻石会员。这一制度旨在筛选出中产家庭和高端消 费群体作为主要目标客群。然而，随着仓储会员店业态 ...