Retail Formats
Sam's Club Surges, Costco Jogs, Metro Calls in Reinforcements, Hema Exits: The Membership Store Battle Enters the Second Half
By 2026, the warehouse membership store sector is increasingly diverging. Sam's Club opens over a dozen new stores a year, surpasses ten million members, and generates more than half its orders online; Costco, nearly seven years in China, has only opened seven stores and remains unhurried; Metro has hired former Sam's Club China president Andrew Miles at a high salary to lead a turnaround; Hema has completely shut down its X Membership stores, pivoting to the 'Hema NB' discount format and achieving profitability. Four companies, four paces, reflecting four different answers on growth, trust, and strategic choice. The membership store battle has entered its second half.
张淑婷