For Costco, which opened its first store in China, whether it can continue to write a business legend in the Chinese market is still a question worth thinking about and solving. I have seen good business, but I have never seen business so good that it has to close. After a long time in the making, Costco, the world's largest chain of text message service membership-based warehouse supermarkets, recently opened its first store in mainland China in District, Shanghai. Unexpectedly, the popularity of the business surprised everyone: and Hermes were wiped out in seconds, and the parking lot had to wait for at least three hours. A large number of security personnel and police were dispatched to maintain order at the scene. Many people shouted, "I have never seen so many in my life. people"…… The most "weird" thing is that because there are too many customers, the goods are in short supply. After only 5 hours of opening,
Costco had to close the door to thank customers, and it took a long time to reopen. Seeing is better than seeing, and Costco's charm is well-deserved. Speaking of Costco, most Chinese may not know it yet, but it has long been a household name in text message service the United States. The retail giant, founded in 1983, has been committed to providing the market with quality goods at affordable prices since its inception. In the process of development, Costco has almost never experienced a downturn and has been on the road of steady growth. Because of this, Costco has been respected by countless bigwigs: Amazon founder Bezos regards it as "the most worthwhile retailer",
and Warren Buffett's bestie Charlie Munger calls it "the most wanting to be brought into the coffin." In China, Costco has captured many fans text message service such as Lei Jun, Fu Sheng, and Huang Zheng. The charm of Costco, of course, comes from its unique business model and business philosophy, so I won't go into details here. This article is concerned with the future of Costco in China: Can it continue to write a business legend in the Chinese market? You may think that Costco’s “explosion of stores” in Shanghai is enough to explain the problem, but in my opinion, the situation is not as optimistic as it seems, at least there are three obstacles that Costco must face and solve. Obstacle 1: Membership has not been widely recognized by the Chinese Anyone familiar with Costco knows that membership is its most unique business label and its core profit point.