SALT LAKE CITY — Costco opened its first-ever store in China on Tuesday, and Chinese shoppers packed into the store to celebrate.
Costco opened the new store in Shanghai. And, per Yahoo Finance, Chinese shoppers flooded the store and packed all of the aisles.
The opening day excitement caused concern about the safety of shoppers. The Paper, a media outlet run by the Shanghai government, said the store closed early due to the conditions, CNBC reported.
“Due to the extremely large crowds at the newly opened supermarket, for the safety of the public we urge that residents consume in a rational manner and choose to go shopping at an off-peak time,” a government official said, according to the Paper’s report.
And one school near the store sent out a warning to parents about the traffic, according to CNBC.
“Please expect the student dismissal this afternoon to be severely delayed due to the grand opening of Costco Supermarket,” said the message.
Social media members shared videos and photos of the opening day:
“For Costco, the day one response — and the inevitable surge in new memberships — should temper concerns on Wall Street that its bulk-selling model wouldn’t work in the hyper local Chinese food market,” according to Yahoo Finance.
Costco could play a key role in China now because of the country’s growing middle class.
“It’s very likely that Costco becomes a key retailer in China as the growing middle class — which is triggering investments in larger living spaces and creating more income — drives demand to buy in bulk (which is still a rather unique model in the country),” according to Yahoo Finance.