Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Platform Serving China’s Takeout Delivery Workers Jumps 28% in Nasdaq Debut
SenseTime Builds AI Computing Platform in Shanghai Amid ‘New Infrastructure’ Push
WeRide to Test Fully Autonomous Vehicles in Guangzhou
Trending in China: Why Are Chinese Netizens Saying Kanye West Could be ‘China’s First’ U.S. President?
Trending in China: Will Weibo’s Fight Against Porn Have Other Unintended Side Effects
Tencent Leads $40 Million Investment in Online Art Educator
Alibaba Aims to Facilitate $1.4 Trillion in Sales Annually By 2024
Trending in China: Death of Giant Panda Cubs Sparks Concerns About Treatment of ‘National Treasure’
China CFO of Indian Oyo Quits to ‘Pursue Other Professional Opportunities’
Sequoia Capital Opens Its First Tech Incubation Center in Shanghai
Some 266 Foreign-Invested Firms Approved to Offer Telecom Services in China in First Half of 2020
Trending in China: Should Internet Celebrities Be Part of the School Curriculum?
Sequoia China Leads Nearly $100m Round in Storytelling App Kuaidian
Medical Robot Maker Finds Elixir in STAR Board’s Market Reforms
Trending in China: Outrage Ensues as Updated U.S. Student Visa Policies Force International Students into a Dilemma
Tencent’s PUBG Mobile Game Hits $3 Billion Milestone
Luckin Coffee Shareholders Vote to Remove Chairman, Bloomberg Reports
France Won’t Ban But Will Discourage Use of Huawei 5G Equipment, Official Says
Trending in China: ‘Lipstick King’ Li Jiaqi Settles in Shanghai, Prompting a Rethink of ‘Talent’
Tencent Plays in U.S. With California Game Studio Launch
Costco Shopping Mania Forces Early Closing on China Debut Day

By Sun Liangzi and Zhao Runhua / Aug 28, 2019 02:11 AM / Business & Tech

Photo: VCG

Photo: VCG

While some industry watchers doubted how the American discount warehouse brand Costco could fit into the Chinese market, the debut day of the wholesale chain’s first brick-and-mortar store in China was good. Well, perhaps too good.

Formally opened in Shanghai’s Minhang district Tuesday morning, Costco suspended operations in the early afternoon, citing an overly crowded shopping venue. The local public security force even blocked roads nearby to ensure transportation safety.

Some shoppers complained on China’s microblogging platform Weibo that the busy venue reminded them of the world’s largest annual migration—China’s Lunar New Year travel.

According to Costco’s official WeChat account, in the next month the store will offer special discounts on 60 products. A consumer told Caixin the store also sold luxury Hermès and Chanel bags.

Before setting up the Shanghai store, Costco operated online in China. The physical store is shifting the U.S. wholesale company’s strategy to one more like local players’ so-called “new retail” approach, which integrates online and offline services by actively establishing omni-channel partnerships.

Contact reporter Zhao Runhua (runhuazhao@caixin.com)


Share this article
Open WeChat and scan the QR code