Costco China's debut is rife with frenzy and 'crazy' lines
Source: LA Times
Costco Wholesale Corp.s first outlet in China opened on Tuesday and was soon overrun with customers willing to fight over discounted products and wait hours to pay for their purchases.
The American retail giant had to suspend operations in its Shanghai store in the afternoon citing heavy traffic and customer flows, according to a text message sent by the company to consumers holding its membership card. The message was shared on Weibo, Chinas micro-blogging website.
The frenzy at Costcos store comes at a time when the U.S. and China are locked in a tit-for-tat tariff war that shows no signs of abating and is making American firms wary of investing in the largest Asian economy. Costco is also entering a market where many of its global rivals have struggled and given up. Carrefour SA sold 80% stake in its China unit at a discount in June while German wholesaler Metro AG is looking to sell its operations.
Theres no other word to describe Shanghais Costco but crazy, a Weibo user said, who gave up on the shopping plan after seeing two-hour queues at the checkout counters. Other Weibo users shared that they had to wait three hours to enter the parking lot while some decided to walk to the store to avoid the traffic jam.
Read more: https://www.latimes.com/business/story/2019-08-27/costco-china-opening
Sneederbunk
(14,290 posts)dalton99a
(81,455 posts)NewJeffCT
(56,828 posts)I've been to Wal-Marts and to restaurants in China in the past and it's not that bad. What was cool once was that we bought a blood sugar monitor for my father-in-law in China at a Wal-Mart in the US and were able to exchange it at a Wal-Mart in China.
Now, the trains and airports can get crazy, as can entertainment venues. But, I've experienced being packed into trains like sardines in Europe before as well. (That said, the more upscale high speed rail is generally very nice and very comfortable)
dalton99a
(81,455 posts)CanonRay
(14,101 posts)ordered companies to stop doing business with China???
CountAllVotes
(20,868 posts)China knows.
No need to buy (or ability to?) cart loads of groceries, etc.
Just a few items is all you see in the carts in this Costco in China.
It isn't worth more than $28 a year if all you buy are a few things.
Javaman
(62,521 posts)bucolic_frolic
(43,137 posts)trinket capitalism don't make you rich or self-sufficient