Costco Shanghai Opening 2019: Store Forced to Close Early Due to Massive Crowds

Advertisement

The Costco Shanghai opening 2019 came to an end early on Tuesday after customers swarmed the store.

Costco Shanghai Opening 2019: Store Forced to Close Early Due to Massive Crowds

Source: Helen89 / Shutterstock.com

Costco (NASDAQ:COST) was holding a grand opening event for its first store in China. However, the problem is that there were just too many customers showing up to shop at the location. This resulted in massive crowds and long wait times.

The Costco Shanghai opening 2019 even ended up catching the eye of the local government. This included warnings from schools to parents about the heavy traffic conditions due to the opening. There were also warnings in newspapers for shoppers telling them to shop during off peak hours to avoid a potential three hour wait to park.

Here are some insights and reactions into the Costco Shanghai opening 2019 from users over on Twitter (NYSE:TWTR).

  • “Today, Costco wholesale opened its first store in China. Shoppers in Shanghai had to wait 3 hours for a parking spot…”
  • “Sea of people as first ever Costco opens in Shanghai…traffic jams for >1km around store 人山人海.”
  • “Costco’s first store opening in China was a mob scene. Customers in Shanghai fought over discounted products and waited hours in line to pay. The store had to suspend operations due to the overwhelming crowds.”
  • “Costco needs hundreds more of these stores in China.”
  • “#Costco Open first store in China, had to close it after 5 hours due to high number of people. Consumers don’t care about US China trade war clearly.”

COST stock was up 3% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/08/costco-shanghai-opening-2019-closes-store/.

©2024 InvestorPlace Media, LLC