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Costco to Open Mainland China Store

Costco sign 725 x 500 .jpg

Costco is expanding its presence in China.

The membership retailer established itself online in China five years ago and will open its first bricks-and-mortar store on 27th August.

The store will be located in the Minhang district of Shanghai, according to Costco's WeChat account.

In keeping with its other global sites, Costco will offer business and private customer memberships.  The company states that memberships will cost Rmb 299 (circa US$43).

Costco currently operates from over 773 stores across the world, the majority of which are located in the US and Canada.

The company has competition in the Chinese region from Walmart-owned Sam's Club, another membership-based retail business.  There are already 23 Sam's Club stores, located in 19 cities, including Shanghai.

Source : Insight DIY Team

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20 June 2019

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