Alibaba Group Holding Ltd. said it will close its last members-only Freshippo supermarket, bringing an end to the ‘Hema X’ warehouse-style format it introduced in 2020 to rival Costco and Walmart’s Sam’s Club in China. The e-commerce giant will wind down the store gradually and instead open five discount outlets as it pivots toward lower-priced formats amid fierce competition and slowing consumer spending. Alibaba did not disclose a timetable or financial impact, but the move underscores its broader retreat from capital-intensive bricks-and-mortar experiments. Foreign warehouse clubs such as Costco and Sam’s Club have continued to expand in China, while domestic rivals including JD.com are pushing into value grocery offerings, intensifying pressure on Freshippo. Alibaba’s downsizing follows its decision last year to suspend the initial public offering of Freshippo, once seen as a key growth engine for its local services division.