FOMO Brings Massive Crowds to China's First Costco
August 27 2019 - 6:11PM
Dow Jones News
By Laura Forman
There is a trade war escalating, but it seems that Chinese
bargain hunters didn't get the memo.
What was escalating were the crowds in Shanghai, where U.S.
retailer Costco opened its first location in China on Tuesday.
So many customers came that the company shut the store's doors
just after 1 p.m., eight hours earlier than scheduled. Eager
shoppers reported waiting for three hours in traffic near the store
just to get a parking spot, despite the lot, with 1,200 spaces,
being the company's largest anywhere.
Once in the store, customers described, via photos and videos
shared on social media, fighting over discounted products and
waiting hours in line to pay. Between the overstuffed carts and the
sheer mass of shoppers, video footage showed foot traffic at a
complete standstill in the store. A notice from Shanghai government
officials was quoted as cautioning residents to "consume in a
reasonable manner" for the safety of the public.
But, if opening day was any indication, Chinese consumers are
ready to act like Americans when it comes to bulk shopping. The
occasionally heated language between their government and the White
House notwithstanding, the star of the show was Costco's own brand
of baked goods: Muffins were in particularly high demand.
Write to Laura Forman at laura.forman@wsj.com
(END) Dow Jones Newswires
August 27, 2019 17:56 ET (21:56 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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