Costco Mainland First Store Opens Next Week And Has Accumulated Tens Of Thousands Of Members.

August 21st, a few days ago, the Costco Shanghai Minhang store, which will officially open in August 27th, will open its shop to the media. Although no specific commodity prices have yet been revealed, Zhang Sihan, President of Costco Asia, revealed that the prices of non food department stores were 30% to 60% below the market price, while that of food products could be 10% to 20%.

Statistics show that Costco is a large storage hypermarket with a membership system. It has been called the "rival of WAL-MART" with low price, streamlined goods and membership as its core business mode. It has a global supply chain system, and goods are kept in about 4000 selected SKU units.

At present, Costco operates 770 stores, including 535 in the United States and Puerto Rico, 100 in Canada, 26 in Asia, 15 in Korea and 13 in Taiwan, China.

According to the media, Costco set up Tmall flagship store as early as 2014, and the decision of the store to settle in Shanghai also came from the operation experience of Tmall flagship store. From the past 5 years' orders, the main consumers of Costco are concentrated in East China, of which Shanghai is the most.

Zhang Sihan said that since the opening of membership applications in July 1st, the Minhang store has accumulated tens of thousands of members, far exceeding expectations. According to other statistics, the total commercial item (SKU) of Costco Tmall flagship store is 500, while the Minhang store has 3400 SKU. And for the future plan to continue shop, Costco will focus on the development of the East China market, and continue to shop.