Core Viewpoint - Metro's membership model has not established a truly irreplaceable differentiated value, leading to customer dissatisfaction and loss of loyalty [4][10][22] Customer Experience - Customers have expressed dissatisfaction with Metro's online shopping experience, citing issues such as items being out of stock despite showing availability online [1][3] - The shift to a paid membership model has led to a decline in customer loyalty, with some customers abandoning their memberships altogether [3][10] Strategic Challenges - After the acquisition by Wumart, Metro has struggled with brand positioning, supply chain integration, and intensified market competition, resulting in a transformation dilemma [6][11][22] - Metro's attempt to transition from a B2B to a B2C model has not been clearly defined, leading to confusion among customers and a dilution of its original brand identity [10][20] Supply Chain Issues - The integration of supply chains post-acquisition has been problematic, with a significant reduction in the number of imported products and a decline in customer satisfaction [11][14] - The average procurement amount for B2B clients has decreased significantly, indicating a loss of business to digital procurement platforms [11][15] Market Competition - The paid membership store market in China has seen explosive growth, but Metro faces increasing competition from both domestic and international players like Sam's Club and Costco [18][20] - Metro's online business performance lags behind competitors, with lower user engagement and SKU coverage compared to peers [21][22] Future Outlook - Metro's future hinges on balancing the needs of B2B and B2C markets while addressing the challenges of supply chain integration and competitive positioning [22][23] - Without effective differentiation and a clear strategy, Metro risks losing its unique market position and may face further operational challenges [22][23]