A Costco store officially opened in Minhang District, Shanghai on August 27th, which is the retailer’s first store in mainland China. The store covers an area of 20,000 square meters and adopts the standard one-floor layout of Costco’s American stores. It has 1,200 indoor and outdoor parking spaces with an indoor shopping area of just under 14,000 square meters.
As the world's second-largest retail brand, Costco is the world's largest stockroom-style hypermarket chain with annual sales of nearly 130 billion US dollars, considered the only competitor by Walmart. In fact, before opening a store in Shanghai, Costco has achieved great success in the Taiwan market.
Some insiders believe that the entry of Costco's physical stores into mainland China will have a certain impact on the existing retail landscape, but even if the brand is well-known abroad, Costco is still a new brand to Chinese customers. In the face of the complex and ever-changing offline retail environment in China, Costco has a long way to go. How much impact can be generated by its move into China remains to be seen.
Source: 36ke, Linkshop.com, Minhangnews, Modunann, etc.
