来源：市场资讯 在销售增长的背后，好市多的会员续费率始终保持在90%以上的高位，这为其提供了一个稳定而忠诚的 客户基础。这样的高续费率不仅显示出客户对其服务的高度认可，也为公司的长期稳定发展奠定了基 础。此外，好市多9月的全公司同店销售额增长5.7%，而数字化业务的同店销售额更是实现了26.1%的 强劲增长，这表明公司在数字化转型方面的投资已经开始显现成效。 即便在股市盘后，好市多的股价仍然上涨了2.5%，这反映出市场对其出色业绩表现的积极响应。在这 样的背景下，投资者不妨继续密切关注好市多的数字化业务表现和国际市场拓展情况，毕竟这些都是未 来公司持续增长的动力源泉。 总结来看，好市多凭借稳健的销售增长和高效的会员管理，继续赢得市场的青睐。对于投资者来说，要 注意行业趋势以及全球经济环境的变化，特别是要警惕可能的市场波动。同时，鉴于好市多的优质表 现，那些有耐心并愿意承担一定风险的投资者可能会在其长期发展中受益。 （来源：美股情报站） 在10月9日，好市多的股价上演了一场精彩的"小涨潮"，当天收涨3.07%，并实现了连续三天的上涨，累 计涨幅达到了3.51%。这一走势无疑让投资者感到振奋。 聚焦于好市多最新披 ...

Core Insights - The controversy surrounding Sam's Club's product selection reflects a clash between the evolving consumer psychology of China's middle class and their anxieties regarding domestic products [1][17] - Sam's Club's aggressive expansion strategy has led to significant sales growth, but recent missteps in product selection have jeopardized its core competitive advantage of high-quality offerings [3][4] Group 1: Business Performance - In fiscal year 2024, Sam's Club achieved net sales of $84.4 billion, accounting for approximately 13% of the company's total revenue [3] - As of January 31, 2024, Sam's Club operated over 600 stores globally, with plans to open 8 new stores in China by 2025, marking a record annual opening count [3][4] - Sam's Club's revenue in China surpassed 100 billion yuan in 2024, representing nearly two-thirds of Walmart's performance in the region [4] Group 2: Membership and Product Strategy - Sam's Club's membership model has been a double-edged sword; while it has driven growth, recent product controversies have led to member dissatisfaction [4][21] - The introduction of exclusive products and the Member's Mark brand has been central to Sam's Club's strategy, with Member's Mark accounting for over 20% of total sales in fiscal year 2023 [14][18] - The recent backlash against the low-sugar version of the Holleyou pie highlights a disconnect between the brand's promise of high standards and the reality of its product offerings [10][20] Group 3: Market Competition - Sam's Club faces increasing competition from both domestic and international players, including the German discount supermarket Aldi, which has expanded rapidly in China [23] - The rise of new retail formats, such as Hema, poses additional challenges to Sam's Club's traditional business model [21][23] - Consumer sentiment is shifting, with members expressing concerns over the perceived decline in product quality and exclusivity, leading to hesitations about renewing memberships [21][24]