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bjl1700616 : Costco to open mainland store

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  • Costco to open mainland store (2019-08-20)
  • Global membership warehouse club retailer Costco Wholesale Corp is scheduled to open its first brick-and-mortar store in the Chinese mainland on Aug 27, posing a strong threat to Walmart China's cash cow, Sam's Club, in a battle to win over the country's high-end consumers. Costco's first store will be located in the Minhang district of Shanghai. It has memberships for family and corporate consumers with fees priced at 299 yuan ($43.1) each. Costco has a strong record in retaining members. Its membership renewal rates in the United States and Canada hit 90 percent last year, and stood at 88 percent worldwide, according to company data.    Photo by Imaginechina
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