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Thursday, June 17, 2021
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Costco Wholesale Corp opens its first store in China

Costco Wholesale Corp said it will limit the number of shoppers at its new China store and no more than 2,000 shoppers at any given time will be allowed into the store, located in a Shanghai suburb.

Viral images online showed shoppers clambering to get in, jostling with others to snag roasted chickens and meat, and waiting in long lines to check out.

Costco announced last month that it would open its first store in China. It first entered the country in 2014 through opening an online store on Alibaba Group Holding Ltd’s Tmall online marketplace.

Its busy first day came as other big-name Western retailers such as Amazon, Tesco Plc and Carrefour are retreating from China having struggled to win market share in the face of strong competition from domestic rivals.

(Production: Jiang, Xihao)

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