Crowd at this US store in China suggests trade war is a myth

Last Updated: Thu, Aug 29, 2019 12:22 hrs
Costco Wholesale (Image Courtesy: Wikipedia)

Shanghai: US retail chain Costco was brought to a standstill when bargain-hunting shoppers thronged the store on its opening day in Shanghai.

Aiming to make deeper inroads into the fast-growing consumer market, Costco entered China despite the ongoing US-China trade war, the Financial Times reported on Wednesday.

"A long queue formed outside the store's entrance, with some parts of the store so full they were impossible to enter immediately," as the store offered good-quality stuff at cheaper price, said the report.

"Due to overcrowding in the market, and in order to provide you with a better shopping experience, Costco will temporarily close. Please avoid coming," the company said in the notification.

The Costco entered three months after German supermarket chain Aldi opened its first stores in China.

France's Carrefour sold a majority stake in its China operations to local retailer Suning for $700 million in June this year.

Walmart is also growing in China.

Here are some images from the store as tweeted: