Costco Archives - Page 2 of 2 - Inside Retail Asia

Costco Korea starts selling online

The American membership-only warehouse club Costco Korea has opened an online shopping mall.

Costco closes in on France

US wholesale retailer Costco is getting closer to a French debut.

Shinsegae opens giant mall

Korea’s Shinsegae Group is about to open a massive shopping centre northwest of Seoul which it hopes will take the fight to Ikea for homewares shopping.

Boomtime for consumer health sector

Market research company Euromonitor International says the global consumer health industry is on a roll. According to research released overnight, the consumer health industry experienced a 5.7 per cent growth (current/fixed currency terms) totalling US$216.4 billion in retail sales globally in 2014. Over-the-counter (OTC) remedies such as sleep aids, eye care, dermatologicals and digestive remedies performed very well with US$36 billion in sales globally. Sports nutrition grew strongly…

Costco impresses with China debut

US warehouse club retailer Costco has made an impressive debut in China, selling online through Alibaba. But in a detailed analysis, Forbes has warns that while the retail giant’s first experience with the Chinese retail market has been “exceptionally good”, a bigger issue will be how the company plans its expansion from here on. Alibaba has revealed it achieved US$6.4 million in revenues from Costco in its first month online with Tmall – and that with a very limited stock range comp…

Costco says ‘not yet’ to China

US warehouse club format retailer Costco says it mulling entering China – but the time is not right. Costco EVP and CFO Richard Galanti told an analysts’ briefing this week that it continues to contemplate opportunities to take its unique format into the world’s largest consumer market but “we’re not ready to move”. “We recognise it’s a giant market, and every few years senior management goes over there and looks around,” he told the briefing. “While we’re confident …

Singapore gets its first Warehouse Club

NTUC FairPrice has opened its first Warehouse Club format store – the first such store under any brand in the city state. Modelled loosely on the Costco and Sams Club formats of the US, Warehouse Club offers discounted products in larger pack sizes on a members only basis.  But membership is open to all, priced at $35 annually for NTUC Union members and $50 a year for non members. The 80,000 sqft store stocks about 4000 SKUs in a two-storey retail space at 1 Joo Koon Circle. Gerry Lee,…

Alibaba’s greatest day

Chinese online group Alibaba has smashed last year’s Single’s Day record – but by falling short of analyst expectations, it unfairly seemed a little underwhelming. Alibaba says total sales for China’s biggest annual online trading day, November 11, reached US$9.3 billion – a little short of the overly optimistic analyst predictions it would break through the $10 billion barrier. But such observations unreasonably overshadow what was still an incredible achievement given last year’s…

Costco enters China

US discount warehouse club Costco is to enter China. But instead of opening its hallmark bricks and mortar superstores, Costco will debut in the world’s most populous nation online. It will open an online flagship store on Alibaba Group’s Tmall Global platform, an extension of Tmall.com, China’s largest third-party platform for brands and retailers. Tmall Global allows overseas brands and retailers to establish presence on Tmall.com without the need for physical operations in China, sa…

[:en]Triggers and treasures[:zh]动机与愉悦

One of the best shopping experiences in the world right now is anything but fancy. In fact, it is about as stripped down as retail can get – concrete floors, product on palettes, warehouse ceilings with struts and skylights. Despite the unflattering surroundings, this particular chain also charges customers just to get in the door, and every year, the equivalent of the population of the UK and Austria combined happily hand over their money to do so. The retailer in question is Costco…

Costco focuses on Asia-Pacific

North American discount retailer to roll out more stores in Asian region.