折扣超市业务主打以高性价比商品吸引消费者，是电商平台拓展线下、谋求新增长曲线的关键举措。近 年来，叮咚买菜、盒马均在发展旗下的折扣超市门店。2023年，首家"叮咚奥莱"社区店在上海落地，主 打性价比，门店面积在400-500平方米。而盒马硬折扣门店也在加速跑马圈地，截至今年6月，全国盒马 NB店数已突破300家。 北京商报讯(记者何倩)8月5日，北京商报记者从京东获悉，京东8月份将在江苏宿迁、河北涿州两地共 开出5家京东折扣超市。与目前行业内已有的小店型、SKU少的折扣超市不同，京东折扣超市依靠供应 链优势，采取大店型、多SKU的运营模式，首个涿州京东折扣超市门店面积达5000平方米，精选超5000 款高性价比的民生商品，价格将普遍低于市场常规售价。 值得关注的是，今年以来，电商平台均将目光聚焦在折扣超市业态上。据多家媒体报道，美团硬折扣超 市项目"快乐猴"的首店将于8月底在杭州拱墅区落地，面积不低于500平方米，业态对标盒马NB。与此 同时，美团还计划在北京门头沟开设一家中型超市大店。此外，快乐猴超市还将有硬折扣社区小业态的 布局。市场消息称，美团快乐猴开店的初步目标为1000家店。 ...

永辉超市目标：五年后有15个年销10亿元的大单品。 作者｜万德乾 第三，永辉打造大单品的三板斧：学习胖东来、打造过亿销量的大单品、抓住大单品的核心价值。学习胖东来，这个没有任何疑问，这是永辉过去一年多 来的唯一自救主旋律。打造过亿销量的大单品，属于合理目标。单品可以享受大的美誉，本身就要有销量过亿的基本条件。这里面的关键点在抓住大单品 的核心价值，永辉列举的一个公式是：价值，等于品质的分子除以价格的分母的商，再乘以UVP（Unique Value Proposition，即：独特价值主张）。 经常会去永辉超市的消费者，或多或少买过永辉的自有品牌商品，有些商品的消费者口碑还挺不错。 喜欢零食的人，比如喜欢吃凤爪、芒果干、鸭锁骨、爆米花……买着买着，发现买的这些包装零食，都有一个共同名字：馋大狮。 喜欢买菜做饭的人，会买鸡蛋、豆腐、豆干、卤肉、腌菜、泡菜……买着买着，发现买的这些日常食品，都有一个共同名字：惠相随。 喜欢打理家庭的人，会买保温杯、香薰、空气清新剂、纸巾……买着买着，发现这些家居用品，都有一个共同名字：优颂。 喜欢爱美护肤的人，会买润发乳、沐浴乳、洗手液、洁面巾……买着买着，发现这些个人护理用品，都 ...

河南零售巨头胖东来公布最新经营数据。 END 数据显示，胖东来2025年7月销售额达16.66亿元，今年1—7月累计销售额133.86亿元。按此计算，日均 销售额约6314.16万元。 潜望系列深度报道丨股事会专栏丨投资小红书丨e公司调查丨时报会客厅丨十大明星私募访谈丨丨丨丨 马斯克，重大宣布！丨陈茂波最新发声！丨丨丨丨丨丨 2024年，胖东来实现销售额近170亿元，利润超8亿元。基于上述2025年1—7月的经营数据，其全年业绩 超越2024年已无悬念。 据大河网财立方报道，7月份，胖东来超市、珠宝、百货、电器四大业态单月销售额均超过亿元，分别 贡献9.32亿元、1.83亿元、1.66亿元和1.40亿元，合计占当月总销售额的85.27%。服饰、茶叶等生活消 费类业态紧随其后，分别录得0.94亿元、0.74亿元销售额。 综合自：e公司、大河财立方 ...

Core Insights - The county market demonstrates strong consumer potential, with significant growth in both dining and non-dining orders on Taobao Flash Purchase in July [1][5] - Small and medium-sized businesses are seeing steady income increases, with over 57,000 non-dining small shops achieving record order volumes [1][5] - Recent policy directions emphasize the need to effectively unleash domestic demand potential, focusing on expanding goods consumption and nurturing new growth points in service consumption [1] Group 1: County Market Growth - In July, dining orders in counties like Hunan and Shandong saw over 10-fold growth compared to June, while non-dining orders in several counties also exceeded 10-fold growth [5] - Nighttime orders in county markets increased by an average of 70% compared to June, with top-performing counties being Jiangsu Kunshan and Zhejiang Yiwu [5] - The number of "ten-thousand order stores" in counties grew by 274% in July, indicating a significant increase in local business activity [5] Group 2: Consumer Preferences - County residents show a preference for leisure snacks, beverages, and cooling foods, with snack orders increasing by 126% and outdoor sports products by 114% in July [6] - The platform economy plays a crucial role in activating demand in lower-tier markets, contributing to the diversification of consumption patterns [6] Group 3: Expansion of Service Consumption - The entry of brands like VERO MODA and JACK & JONES into Taobao Flash Purchase has resulted in significant order increases, with some brands seeing daily orders grow by 5 times [7] - Over 12,000 non-dining physical stores joined Taobao Flash Purchase in July, with brands like Moutai and Xiaomi reporting record order volumes [8] Group 4: Local Brand Performance - Local brands such as "Longjiang Good Days" in Mudanjiang and "Guobai Fruit" in Wuhu have seen daily order increases of over 5 times and 104% respectively after joining Taobao Flash Purchase [9] - The integration of local brands into the platform has led to substantial revenue growth, with some stores reporting order increases of over 10 times [9] Group 5: Digital Transformation - The "Aoxiang" SaaS platform aids retailers in managing operations across multiple channels, significantly reducing operational costs for small and medium-sized businesses [10] - The number of stores using the "Aoxiang" system has increased by 17.6% since May, indicating a growing trend towards digitalization in retail [10] - The integration of Alibaba's supply chain resources into Taobao Flash Purchase enhances procurement efficiency and reduces stockouts for participating merchants [10]

Investment Rating - The investment rating for the retail industry is "Positive" (maintained) [1] Core Views - The report highlights the strong performance of domestic brands in the skincare and cosmetics sectors on platforms like Douyin, with significant market share gains [5][25][28] - The report emphasizes the importance of emotional consumption trends driving growth in various retail segments, particularly in jewelry, cosmetics, and offline retail [30][31] Summary by Sections Retail Market Overview - The retail industry index decreased by 2.22% during the week of July 28 to August 1, 2025, underperforming the Shanghai Composite Index by 1.28 percentage points [7][14] - The professional chain segment showed the largest increase among retail sub-sectors, while the jewelry sector led the year-to-date performance with a 25.38% increase [17][20] Key Industry Dynamics - In July, Douyin's skincare brand Han Shu ranked first, with domestic brands occupying 15 out of the top 20 spots in the skincare category [25][28] - The cosmetics sector also saw domestic brands excel, with 19 out of the top 20 positions in the makeup category, driven by cushion products and other high-demand items [28][29] Investment Recommendations - Investment focus areas include: - **Jewelry**: Recommend brands with differentiated product offerings like Laopuhuang and Chaohongji [30][33] - **Offline Retail**: Highlight companies like Yonghui Supermarket and Aiyingshi that are adapting to consumer trends [30][31] - **Cosmetics**: Emphasize domestic brands with strong market positions such as Maogeping and Pola [31][32] - **Medical Aesthetics**: Focus on companies with unique product lines like Aimeike and Kedi-B [31][32] Company-Specific Insights - **Laopuhuang**: Achieved revenue of 8.506 billion yuan (+167.5%) and a net profit of 1.473 billion yuan (+253.9%) in FY2024, with strong growth expected in H1 2025 [32] - **Yonghui Supermarket**: Reported a revenue of 17.479 billion yuan (-19.3%) and a net profit of 148 million yuan (-80.0%) in Q1 2025, with ongoing transformation efforts [32] - **Maogeping**: Recorded a revenue of 3.885 billion yuan (+34.6%) and a net profit of 881 million yuan (+33.0%) in FY2024, indicating strong brand momentum [32]

Core Viewpoint - The rise of purchasing agents in county-level cities is significantly impacting traditional supermarkets, as consumers increasingly seek higher quality products and unique shopping experiences [11][12][22]. Group 1: Consumer Behavior - Many consumers in county-level cities are turning to purchasing agents for products from brands like Sam's Club and Pang Donglai, driven by the desire for quality and variety [2][8]. - A survey indicated that 68% of county consumers choose purchasing agents to buy items unavailable locally, while 55% trust the quality of these brands [11]. - The purchasing behavior reflects a shift towards higher quality expectations, with consumers no longer satisfied with the offerings of traditional supermarkets [12][20]. Group 2: Impact on Traditional Supermarkets - Traditional supermarkets are experiencing a significant decline in customer traffic, with over 60% of operators reporting a drop of around 20% in recent years [21]. - The competition from purchasing agents has led to a loss of approximately 30% of mid-to-high-end customers for some traditional stores [9][21]. - Traditional supermarkets face challenges such as low supply chain efficiency, high procurement costs, and a lack of digitalization, which hinder their ability to compete effectively [18][19]. Group 3: Market Trends - The county retail market is evolving, with consumers adopting shopping habits similar to those in first- and second-tier cities due to improved internet access and logistics [20]. - The future of county retail is expected to focus on online-offline integration, differentiated positioning, and community-based services [21][22]. - Traditional supermarkets must adapt by understanding local consumer needs and offering tailored products and services to survive in the changing market landscape [23].

Core Viewpoint - Traditional hypermarkets in Nanjing, such as Carrefour and Walmart, are facing significant challenges and are undergoing transformations into community commercial complexes and cultural tourism centers due to the rise of new generation complexes and online retail [1][4][6]. Group 1: Transformation Projects - The newly opened Daxing Palace Underground Square, covering over 40,000 square meters, has been transformed into a tourism distribution center themed around Yangtze River city culture, featuring a parking area for over 500 cars and 50 tourist buses [2][3]. - The former Carrefour store on Dajie South Road has been converted into a 20,000 square meter community commercial complex, with the main store, Hema, attracting 3,000 to 4,000 customers daily and generating over 500,000 yuan in revenue within the first five days [2][3]. Group 2: Challenges Facing Traditional Hypermarkets - Traditional hypermarkets are struggling due to the emergence of larger, more diverse commercial complexes and the impact of online retail, leading to a significant decline in customer traffic and sales [4][5]. - The number of large chain supermarket stores in China decreased by 8.7% year-on-year, with 1,263 closures, marking the highest number in nearly a decade [8]. Group 3: Successful Adaptations - Some hypermarkets, like Walmart's Sam's Club, have successfully adapted by focusing on high-end customer segments, increasing membership, and enhancing online delivery services, achieving annual sales of 2.7 billion yuan [9]. - Dazhonghua's M membership stores have seen significant growth, with one store achieving annual sales of 2 to 3 billion yuan after transformation [10]. Group 4: Future Directions - The transformation of hypermarkets should focus on community integration, emphasizing daily needs and convenience, as seen in the successful adaptations of Carrefour and Walmart in Nanjing [6][11]. - Innovations in operational models, such as the introduction of community markets and enhanced customer experiences, are essential for traditional hypermarkets to remain competitive in the evolving retail landscape [7][11].

Group 1: Rise of Purchasing Agents in County Towns - The emergence of purchasing agents for brands like Sam's Club and Pang Donglai in county towns is notable, with groups forming for pre-ordering products [2][6] - A county hospital doctor reported that her colleagues actively participate in purchasing groups, indicating a shift in shopping behavior towards these agents [2][6] - The local retail landscape includes both traditional supermarkets and new purchasing channels, with the latter gaining popularity due to better pricing and product variety [3][4] Group 2: Decline of Traditional Supermarkets - Traditional supermarkets in county areas are experiencing a significant decline in customer traffic, with some reporting a drop of about 20% in footfall [14] - The competition from purchasing agents has led to a 30% reduction in mid-to-high-end customers for local supermarkets, particularly affecting women aged 30-45 [6][7] - Many traditional supermarkets struggle with outdated business models, low supply chain efficiency, and a lack of digital integration, making them vulnerable to new retail formats [12][14] Group 3: Changing Consumer Preferences - Consumers are increasingly seeking higher quality products, with 68% of county consumers choosing purchasing agents to access items unavailable locally [7][8] - The popularity of brands like Sam's Club and Pang Donglai is attributed to their unique product strategies and high-quality offerings, which contrast sharply with traditional supermarket products [8][15] - The shift in consumer behavior reflects a broader trend towards premiumization and a desire for differentiated shopping experiences [8][15] Group 4: Challenges and Opportunities for Traditional Supermarkets - Traditional supermarkets must adapt to the changing market dynamics by enhancing their product offerings and customer service to remain competitive [15] - The future of county retail is expected to involve a blend of online and offline strategies, with a focus on community-oriented services [14][15] - Supermarkets that can effectively understand and meet local consumer needs will have opportunities for growth despite the challenges posed by purchasing agents [14][15]

Core Insights - Yonghui Supermarket has opened its 11th "Pang Donglai" model store in Xi'an, marking a significant step in its strategy to deepen its presence in the core areas of Xi'an and enhance its store transformation efforts [1][2] - The newly opened store has already seen impressive performance, with sales in the first month increasing by nearly 324% year-on-year and customer traffic soaring by 214% [1] - Four stores in Xi'an have entered a stable profit phase after three months of operation, indicating the success of Yonghui's store transformation strategy in the region [1] Store Transformation Strategy - The opening of the Xi'an Fenghe Wanda Plaza store is part of Yonghui's broader strategy to optimize consumer experience and expand its footprint in key urban areas [2] - The company aims to provide better product selection, a more comfortable shopping environment, attentive service, and reliable consumer protection through localized adaptations of the "Pang Donglai" model [2] - Following the opening of the new store, Yonghui will have a total of 148 transformed stores nationwide, with plans to reach 200 by the end of September [2]

目前，首批进入稳态运营(调改开业满3个月及以上)的中贸广场店、金地广场店、华阳城店、阳光天地 店等4家门店已进入稳定盈利状态，这标志着永辉超市在西安市场的门店调改升级策略取得显著成效。 永辉超市相关负责人表示，西安区域11家"胖永辉"的成功调改与运营，不仅验证了"学习胖东来"模式的 本地化可行性，更积累了宝贵的可复制经验，特别是标准化调改框架成型，例如建立了涵盖商品汰换 (高比例引入新品、优化商品结构全面对标胖东来)、卖场改造(降低货架、优化动线等)、服务升级(深度 加工、细节关怀、员工福利提升)、食品安全强化(严格日清与折价机制)的完整体系。 此外，生鲜蔬果品类调整亮点纷呈，采用"散标结合"模式，聚焦高端有机、绿色地标等多元品类；熟食 区全面升级焕新，烘焙类则主打YH Bakery系列新品；门店还特别设置了胖东来自有品牌专区，同时， 设立永辉自有品牌专区。 值得一提的是，调改后，门店员工福利体系逐步完善，员工满一年即可享受10天带薪年休假，增设员工 休息室、更衣室，提供免费员工餐并在生日及节日发放购物卡。据了解，永辉超市正在人才培养方面大 力推行"工匠计划"，致力于打造一支高水准的专业技工队伍，目标培养"万 ...