Djeep :verified: on Nostr: Costco opened a store in Shenzen and the line to get in was 3 hours long (20k+ ...
Costco opened a store in Shenzen and the line to get in was 3 hours long (20k+ people).
Its strategy has been smart. Costco’s first China store was in 2019 (Shanghai) and — before that — it sold Kirkland Signature on Alibaba for 5yrs to build the brand.
For comparison, Walmart opened first China store in 1996. Obviously a different model but has struggled. So did Home Depot and Best Buy.
Costco waited decades and patience seems to be working. Costco’s hot dog in China is currently $1.53
Its strategy has been smart. Costco’s first China store was in 2019 (Shanghai) and — before that — it sold Kirkland Signature on Alibaba for 5yrs to build the brand.
For comparison, Walmart opened first China store in 1996. Obviously a different model but has struggled. So did Home Depot and Best Buy.
Costco waited decades and patience seems to be working. Costco’s hot dog in China is currently $1.53