Walmart-owned Sam’s Club is expanding its footprint in China, opening its sixth Beijing location as the retailer reports 10.7 million paid members.
Key facts
- •Sam’s Club opened its sixth Beijing store on Monday, attracting long queues of shoppers.
- •The retailer reached 10.7 million paid members in China as of June.
- •Annual membership revenue is estimated to hit 3 billion yuan this year.
- •The company intends to open 13 new stores in 2024, reaching a total of 76 locations.
- •Basic membership costs 260 yuan annually, while premium membership costs 680 yuan.
Walmart-owned Sam’s Club has accelerated its expansion in China, opening its sixth location in Beijing on Monday. The warehouse retailer continues to grow its presence in the country, attracting middle-class consumers with exclusive goods and value pricing even as other foreign brands reduce their operations.
By the numbers
Membership Growth and Revenue
As of June, Sam’s Club reported 10.7 million paid members in China. The company offers two tiers of membership, with basic annual fees set at 260 yuan and premium memberships at 680 yuan. Total annual membership revenue is projected to reach 3 billion yuan, or approximately US$450 million, this year.
Expansion Strategy
The retailer plans to open 13 new stores across China throughout the year, including locations in lower-tier cities. These additions will bring the company's total store count in the country to 76.
Advertisement
This article was independently rewritten by ManyPress editorial AI from reporting originally published by SCMP Business.
