Costco to open first Chinese store despite failure of other international retailers

Costco's first ever Chinese warehouse opened its doors for the first time on Tuesday. A few hours later, the Shanghai warehouse had to shut those same doors early, due to the massive turnout that the warehouse's grand opening attracted.

The company's entry into the Chinese market has been long-awaited. The international retailer operated 762 warehouses located across 11 countries as of 2018. That same year, PwC described China as a "must play, must win" retail market, with brick-and-mortar and e-commerce sales that exceeded US retail sales.

But Costco has avoided jumping straight into China's retail scene until relatively recently. Costco began offering online delivery options to China around five years ago, according to local media.

Read more: Costco workers reveal 33 things they'd love to tell shoppers, but can't

Costco's senior vice president for Asia, Richard Zhang, previously told the AFP that positive online sales convinced the company to bet on opening an actual warehouse. The company's newest warehouse began signing Shanghai locals up for memberships in April.

And, as it turns out, anticipation for the new warehouse really built up.

Here's a look inside Costco's chaotic and crowded grand opening in Shanghai:

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