□ 本报记者 孙劲松 李源 张韦 瑞雪未消，年味渐浓，一场蓄势已久的消费突围战在扬州悄然打响。扬州国展中心内，腊月的寒气被一 片热闹的人潮驱散。1月24日上午10时左右，2026年"来扬州·过新年·行大运"新春促消费系列活动拉开帷 幕。 当地各个区县功能区和相关部门负责人悉数到场，阵容之齐整，在扬州近年促消费活动中堪称空前。扬 州市委书记王进健和嘉宾们共同触动启动装置，这不仅是一场年货大集的开市，更是扬州以"新春第一 集"的力度，向全社会释放全力驱动消费、抢跑春节经济的强烈信号。 "我们围绕'吃、住、行、游、购、娱'开展了一系列活动，为所有朋友和市民呈现一个既有烟火气，更 有浓浓文化味的扬州新年。"王进健在讲话中表示。在中央经济工作会议将"坚持内需主导，建设强大国 内市场"作为今年经济工作的首要任务这一背景下，扬州这场开年大戏，无疑扣响了抢占全年消费先机 的"发令枪"。 不一样的"消费大集" 走进扬州国展中心1号馆，仿佛进入一个热气腾腾的"浓缩版扬州"。空气里交响着油锅的嗞嗞声、吆喝 声和欢声笑语，交织成最动人的年节序曲。这里远非寻常集市，而是扬州下辖9个板块"看家本领"的集 中检阅台：广陵区的豌豆煎饼在铁板 ...

Core Insights - The self-owned brand sector in retail is expected to face a bifurcation by 2025, with a few brands thriving while many others fail to gain traction [1][3] - Despite the rise of self-owned brands being seen as a lifeline for retailers, over 60% of small and medium-sized retailers have a self-owned SKU share of less than 5% [2][7] - The competition in the retail industry is intensifying, shifting from growth to survival, with profit margins shrinking and sales becoming harder to increase [4][5] Market Trends - Self-owned brands are becoming essential for differentiation, maintaining gross margins, and retaining customers, rather than just being an added advantage [7][8] - The satisfaction and recommendation rates for self-owned brands from leading retailers are approaching or surpassing those of national brands, indicating a shift in consumer preferences towards quality and value [8] - The number of new self-owned brand products being developed is increasing, with categories expanding beyond basic food items to personal care and household goods [10][12] Challenges in the Industry - Many retailers are blindly following trends without a clear strategy, leading to a proliferation of poorly defined private label products [9][14] - A significant number of retailers are treating self-owned brands as short-term profit tools rather than long-term brand assets, resulting in quality inconsistencies and frequent supplier changes [18][19] - The industry is facing operational challenges, including conflicts between departments, lack of specialized teams, and inefficient processes [20][21] Structural Issues - The self-owned brand market is experiencing a high closure rate among supermarkets, particularly in second and third-tier cities, with a 15% closure rate in the first half of 2025, up 5 percentage points from the previous year [6] - Retailers are struggling with supply chain issues, product development challenges, and operational inefficiencies, which hinder their ability to create successful self-owned brands [25][31] Strategic Recommendations - Retailers are advised to conduct thorough reviews of their self-owned brand strategies, focusing on profitability, product performance, and consumer perception [36][40] - Key performance indicators should include gross margin rates, new product success rates, and customer retention metrics to assess the effectiveness of self-owned brands [39][42] - A comprehensive approach involving strategic alignment, brand positioning, organizational structure, supply chain management, and continuous improvement is essential for success in the self-owned brand sector [41][44]

Core Insights - The article highlights the transformation of consumer behavior in Changzhi, shifting from merely purchasing products to seeking emotional experiences, particularly in the context of pet ownership and community services [2][8] - The upgrade in consumption patterns is evident in both large supermarkets and local street markets, reflecting a broader trend of enhancing quality and emotional value in consumer offerings [4][7] Group 1: Consumer Experience - The emotional consumption trend is illustrated by the growing popularity of pets as family members, with consumers willing to spend on experiences that fulfill emotional needs [2] - The introduction of new supermarket formats, such as the "胖东来专区," emphasizes quality and freshness, with self-branded products making up 62% of offerings, enhancing the shopping experience [2][4] Group 2: Community and Local Business Development - Street renovations in areas like 炉坊巷 have improved the environment, leading to increased foot traffic and business for local restaurants, showcasing the impact of urban renewal on local economies [4][5] - Community services, such as the affordable meal options at local community canteens, have become essential for residents, promoting social interaction and convenience [5][7] Group 3: Policy and Economic Impact - The local government is actively promoting consumption through various initiatives, including the development of key commercial districts and night economy zones, aiming to attract over 10 million visitors and generate more than 3 billion yuan in revenue by 2024 [7][8] - The implementation of "两新" policies has led to significant consumer engagement, with over 60 billion yuan in consumption driven by trade-in subsidies for vehicles and home appliances, positioning Changzhi as a leader in provincial consumption growth [7][8]

Core Insights - Sam's Club, a representative of warehouse membership supermarkets under Walmart, has accelerated its store openings and achieved impressive performance, but has faced challenges such as app redesign issues, high-level personnel changes, and scrutiny over product selection standards [1] - The rise of "next card" and purchasing through agents has created a unique consumption ecosystem, allowing non-members to experience products [1][5] Group 1: Next Card and Purchasing Agents - A shared membership model known as "next card" has emerged, allowing consumers to rent a shopping opportunity for prices ranging from 10 to 20 yuan, often sourced from existing members or professional rental services [5] - Many consumers prefer this flexible consumption model over fixed membership fees, with some stores turning a blind eye to non-member checkouts as long as sales occur [5] - The purchasing agent industry has flourished, with agents buying popular items in bulk and reselling them to non-members at a markup of 10% to 30%, significantly increasing their monthly revenues [5][6] Group 2: Impact on Business Model - The influx of next card users and purchasing agents may lead to a loss of potential membership fees, with estimates suggesting that if 10% of in-store consumers use next cards or rely on agents, Sam's annual revenue could decrease by several hundred million yuan [7] - The detachment of actual consumption data from membership status complicates consumer behavior analysis, undermining one of the core advantages of membership retail [7] - The presence of purchasing agents diminishes the exclusivity of the membership model, potentially shifting Sam's perception from a "members-only" store to a "high-end supermarket" accessible to the general public [8] Group 3: Adapting to Market Realities - The challenges faced by Sam's Club reflect the difficulties of membership-based retail in China, where consumers prefer to "experience before paying" rather than committing to annual fees upfront [9] - Despite these challenges, Sam's Club continues to grow in China, with 55 stores opened by October 2025, indicating significant success despite the next card and purchasing agent phenomena [9] - To balance the purity of the membership model with the realities of the Chinese market, Sam's Club may need to consider introducing more flexible membership options, such as quarterly cards or lower-tier experience memberships [10]

Core Insights - Sam's Club in China has achieved significant growth, with nearly 9 million members contributing over 100 billion in revenue, making it the first foreign retail company in China to surpass this milestone [2][24] - However, Sam's Club is facing an unprecedented trust crisis due to declining product quality and changes in its selection strategy, leading to customer dissatisfaction and loss of membership [5][10] Group 1: Business Performance - Sam's Club has shifted its strategic focus towards growth and profitability, moving away from its previous cautious approach in first-tier cities [2] - The company has expanded its membership base significantly, with membership numbers increasing from approximately 300,000 in 2019 to 9 million in 2024 [14][29] - Sam's Club's revenue in China is projected to account for nearly two-thirds of Walmart China's overall performance [24] Group 2: Customer Experience and Trust Issues - Customers have reported a decline in product quality, particularly in self-branded items, leading to complaints about inferior products and a lack of trust [10][22] - A significant number of complaints on platforms like Black Cat Complaints highlight issues with food quality, including moldy products and foreign objects in baby formula [10] - Many members are choosing not to renew their memberships due to dissatisfaction with product quality and the perception that the brand is moving towards lower-quality, domestically sourced products [22][33] Group 3: Competitive Landscape - The rapid expansion of Sam's Club has led to increased pressure on product quality and selection, with a shift towards a more aggressive, KPI-driven internal culture [18][20] - Competitors such as Costco and local brands like Hema and Aldi are gaining traction by offering similar products with better quality and pricing strategies [30][32] - The market for warehouse-style membership stores is becoming increasingly crowded, with new entrants and established brands enhancing their offerings to attract consumers [27][30]

Core Insights - Sam's Club, a warehouse membership supermarket under Walmart, has shown impressive performance in Guangzhou, with its Meilin Tiandi store achieving annual sales exceeding 3 billion yuan, establishing itself as a national benchmark [1] - The company continues to expand, planning to open a third store in Liwan and a green building store in Baiyun District, while enhancing its delivery network through "Express Cloud Warehouse" [1] - However, Sam's Club faces a trust crisis due to controversies surrounding its app redesign, executive changes, and product selection standards, leading to increased consumer scrutiny [1][4] Expansion and Performance - The first Sam's Club in Zhongshan opened in September this year, indicating ongoing expansion efforts [3] - The Meilin Tiandi store's sales performance highlights the brand's strong market presence in Guangzhou [1] Consumer Sentiment and Competition - Consumer sentiment is shifting, with discussions on social media about the diminishing value of Sam's membership, as customers reassess the quality and pricing of products [4] - Competitors like Hema X and Costco are intensifying the price competition, leading to a reduction in Sam's perceived advantages in pricing and product quality [5][6] Challenges in Product Innovation - Sam's Club is experiencing a lack of innovative products, with members expressing fatigue over the limited variety of popular items [9][10] - The rapid replication of Sam's popular products by competitors has diminished the uniqueness and appeal of its offerings [10][11] Shopping Experience and Operational Issues - The shopping experience at Sam's Club is reportedly declining due to overcrowding and longer wait times for services, which undermines the premium experience that members expect [6][13] - The rapid expansion has led to inconsistencies in product quality and customer service across different locations, raising concerns about operational management [13] Future Directions - Experts suggest that Sam's Club must focus on balancing supply chain efficiency, digital member management, localized product innovation, and enhanced shopping experiences to remain competitive [13]

Core Insights - In 2024, competition among large supermarkets in China has intensified, with Sam's Club achieving an annual revenue exceeding 100 billion yuan, significantly outperforming local competitors like Hema, Yonghui, and RT-Mart by over 20 billion yuan each [1][3] Company Strategy - Sam's Club, a membership-based store under Walmart, has a unique operational model that has contributed to its success in China since its first store opened in Shenzhen in 1996 [3] - The membership system, with an annual fee of 260 yuan, allows Sam's Club to precisely target middle-class families in China, who are willing to pay for quality and have higher consumption capabilities [4] - By leveraging membership fees as a significant source of profit, Sam's Club can focus less on product markups and more on understanding customer preferences through big data, leading to tailored product offerings [6] Pricing and Product Strategy - Sam's Club utilizes bulk purchasing and strong bargaining power with suppliers to offer competitive prices, often 20% lower than traditional supermarkets, while maintaining high quality through exclusive or custom products [8][9] - The store adopts a "few but excellent" product strategy, offering around 4,000 carefully selected items compared to the 30,000-40,000 items typical of traditional supermarkets, which reduces customer choice fatigue and enhances word-of-mouth marketing [8] - Sam's Club's commitment to quality and differentiation creates a strong barrier against competition, fulfilling the core needs of middle-class families for high-quality products at lower prices [9] Customer Experience - Sam's Club promotes a lifestyle brand by offering high-end products and a unique shopping experience, including generous sampling, which enhances customer enjoyment and engagement [11] - The average annual spending per member at Sam's Club is 13,000 yuan, with a renewal rate exceeding 60%, indicating strong customer loyalty compared to traditional supermarkets [11] Industry Implications - The success of Sam's Club in China highlights the importance of understanding consumer needs and providing targeted services, rather than merely selling products [13]

Core Viewpoint - The traditional baking industry is facing significant challenges, including declining foot traffic, rising costs, and increased competition, leading to a shift in consumer behavior towards new channels and products [3][5][6]. Group 1: Cost Structure - Traditional bakeries are heavily impacted by rising rental and labor costs, with rent increasing by 8%-12% annually and labor costs by 6%-8%, consuming over 20% of sales [6][8][11]. - New channels like convenience store baking sections benefit from shared resources, significantly reducing costs compared to traditional bakeries [9][11]. Group 2: Efficiency - Traditional bakeries struggle with high waste rates, with over 50% of daily products needing to be sold the same day, leading to profit erosion [12][14]. - New retail players utilize big data for demand forecasting, keeping waste rates below 5% and allowing for more efficient production [14]. Group 3: Consumer Disconnect - Traditional brands face challenges in adapting to new consumer trends, such as low-sugar and whole grain products, due to reliance on classic products that maintain stable sales but are low-margin [16][18]. - There is a lack of effective communication with younger consumers, as traditional marketing methods fail to resonate in the age of social media [20][24]. Group 4: New Consumer Trends - The emergence of new baking brands is characterized by innovative designs and concepts that appeal to modern consumers [22][23]. - Successful products in membership stores are not just about low prices but about creating a comprehensive shopping experience that enhances membership value [25][27][30]. Group 5: Convenience and Accessibility - Convenience stores excel by providing quick access to baked goods, aligning with the fast-paced lifestyles of consumers [43][44]. - The combination of baked goods with coffee in convenience stores creates a stable profit margin and enhances customer experience [45]. Group 6: Live Commerce and Content Marketing - Live commerce shifts the focus from traditional retail logic to engaging consumers through content and emotional connections, transforming the purchasing experience [48][52]. - Data-driven product iterations in live commerce allow brands to quickly respond to consumer preferences, significantly shortening product development cycles [55][58]. Group 7: Diverse Consumer Segments - The baking market is increasingly segmented, with different consumer types such as efficiency-driven, value-conscious, and experience-seeking consumers, each with distinct purchasing motivations [70][86]. - Brands must identify and cater to specific consumer needs to create a compelling value proposition [89][91]. Group 8: Strategic Repositioning - Traditional baking brands must undergo a fundamental transformation in their business models, focusing on deep consumer insights and tailored value creation [98][99][111]. - The future winners in the baking industry will be those who can adapt to changing consumer values and preferences through innovative products and effective communication strategies [94][96].

Core Insights - The closure of Hema X membership stores indicates challenges faced by local membership store models in China, contrasting with the success of international players like Sam's Club [1][2][4] - Membership stores target middle-class families and high-end consumers, relying on high-frequency and high-ticket purchases to create customer loyalty [2][3] Group 1: Market Performance - Walmart's international business reported Q1 2025 revenue of $29.8 billion, with China contributing $6.7 billion, reflecting a 22.5% year-on-year growth, significantly above the global average [2] - Sam's Club in China has surpassed 5 million members by 2025, generating over 1.3 billion yuan in annual membership revenue [2] Group 2: Supply Chain Management - Successful membership stores like Sam's Club have a robust supply chain management system that encompasses product selection, quality control, logistics, warehousing, and pricing [3] - Sam's Club's product selection process involves optimizing supplier processes and even participating in product design, which is difficult to replicate [4] Group 3: Future Outlook - The exit of Hema X membership stores is seen as a temporary setback for local membership models, with expectations for more domestic companies to enter the market [4] - The future success of local membership stores will depend on refining supply chains and developing proprietary brands, rather than mere imitation of successful models [4]

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].