Costco debuts in China

[Toliver]

"Here are the crazy scenes from Costco’s opening day in China"

Quote

American shopping giant Costco got an unexpectedly frenzied welcome from zealous Chinese shoppers.

Costco opened its first warehouse club in China today (Aug. 27), in a suburb of Shanghai. Just a few hours into business, it had to shut down in the afternoon because of overcrowding...

It costs less to become a member over there than it does in the United States.

But the low prices have the same draw as here. And I think I would enjoy an excursion through their food court.

I'd say Costco's debut was a success.

 

 

[pastrygirl]

Nice, COST stock price is up 5% today ...

[eugenep]

 

I always see Chinese Cosco containers on the back of trucks here in the East Coast. I always get it confused with Costco. I wonder if Shanghai natives ever has the same thought/confusion 

 

[liuzhou]

8 hours ago, Toliver said:

American shopping giant Costco got an unexpectedly frenzied welcome from zealous Chinese shoppers.

 

Costco must be pretty naïve then. The same thing happens everytime something foreign and exotic happens here.

 

I'm sure they knew exactly what was going to go down.

Edited August 28, 2019 by liuzhou (log)

[liuzhou]

2 hours ago, eugenep said:

I wonder if Shanghai natives ever has the same thought/confusion 

 

 

No. They read the Chinese names which are different.

[Toliver]

"Costco reveals how many people signed up for memberships at its first-ever store in China"

Quote

Costco (COST) opened its first-ever store in China’s Shanghai on August 27. It proceeded to watch shoppers overrun the expansive aisles and take to Twitter to complain of the over-crowding and poor parking conditions. The crowds got so big that the store was forced to cut the opening day short over safety worries, according to news reports.

Costco Chief Financial Officer Richard Galanti told investors at a Goldman Sachs conference Wednesday that 139,000 people signed up for memberships at the store on day one. The figure had not been previously disclosed.

Zoinks!  That's a lot of people in one day. My local Costco gets crowded on weekends but not that crowded.

 

[heidih]

Based on what I have heard from other non US venues they do a good job of sourcing and addressing local wants ad being the "one stop". Novelty may wear. Years ago this was our  Torakris's post  

 

[heidih]

On 8/27/2019 at 6:29 PM, eugenep said:

 

I always see Chinese Cosco containers on the back of trucks here in the East Coast. I always get it confused with Costco. I wonder if Shanghai natives ever has the same thought/confusion 

 

 

Yes the name confuses. Cosco is also the long time name of the largest fire life safety company on the US west coast- lawyers have a field day  I suppose  the "t" in cost helps jog recognition.