FOMO Brings Massive Crowds to China's First Costco

By Laura Forman 

There is a trade war escalating, but it seems that Chinese bargain hunters didn't get the memo.

What was escalating were the crowds in Shanghai, where U.S. retailer Costco opened its first location in China on Tuesday.

So many customers came that the company shut the store's doors just after 1 p.m., eight hours earlier than scheduled. Eager shoppers reported waiting for three hours in traffic near the store just to get a parking spot, despite the lot, with 1,200 spaces, being the company's largest anywhere.

Once in the store, customers described, via photos and videos shared on social media, fighting over discounted products and waiting hours in line to pay. Between the overstuffed carts and the sheer mass of shoppers, video footage showed foot traffic at a complete standstill in the store. A notice from Shanghai government officials was quoted as cautioning residents to "consume in a reasonable manner" for the safety of the public.

But, if opening day was any indication, Chinese consumers are ready to act like Americans when it comes to bulk shopping. The occasionally heated language between their government and the White House notwithstanding, the star of the show was Costco's own brand of baked goods: Muffins were in particularly high demand.

Write to Laura Forman at [e-mail]

(END) Dow Jones Newswires

August 27, 2019 17:56 ET (21:56 GMT)

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