Tuesday, August 27, 2019

Watch Costco Chaos at Its China Debut — Johanna Ramsey

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, China’s micro-blogging website.
The frenzy at Costco’s 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.
China's consumer society in training. Sounds like Filene's basement in the good old days.

I would be a shame if American business got shut out of this just as the Chinese domestic economy is set for growth as China shifts from export-led to domestic-led.

Watch Costco Chaos at Its China Debut
Johanna Ramsey

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