Costco's New Shenzhen Store Draws Massive Crowds Amid China's Budget Shopping Boom
The US retailer's first store in southern China marks a significant expansion in the world's second-largest economy, facing competition from online platforms and other US brands.
- Costco's new store in Shenzhen, China, has drawn massive crowds, with customers queuing for hours to enter the warehouse club location.
- The Shenzhen store is Costco's first in southern China and the sixth on the mainland, marking a significant expansion in the world's second-largest economy.
- Among the most popular items at the new store were discounted fruits, the Chinese spirit Moutai, and a five-foot tall Toy Story 3 bear.
- Despite the economic slowdown in China, the demand for budget shopping has fueled a boom in bulk-buying, with Costco's low prices attracting a large number of shoppers.
- Costco's expansion into China faces competition from online shopping platforms and other US brands like Sam's Club, which already has four branches in Shenzhen.
CNN 
South China Morning Post 
CNBC 
Benzinga 
