As Costco continues to expand stateside, the retailer has adopted a global state-of-mind, laying anchor in new, untapped markets—most recently in China and New Zealand. Although Costco already has an established presence in Australia, the company is looking to ramp up its expansion efforts on the continent, recently announcing plans to open its first store in Perth, Australia.
“We’re looking at opening and starting negotiations with as many local suppliers as possible. Our buying teams have already been in Perth a couple of times and had some discussions with a large number of suppliers,” said Patrick Noone, Managing Director, Costco Australia, said to the The West Australian. “We already have several thousand Perth members that shop at Costco on the east coast, so we know that there’s a degree of competition that we can introduce to the market.”
The new Perth store was originally expected to open in May of 2020, but thanks to the arrival of the building firm, the location is now expected to open its doors to the public as early as March, 2019.
“The construction by Georgiou is going very quickly, very professionally. We’re very pleased with it,” Noone continued. “We’re confident our prices will be as good or better than anything else in the local retailer."
Keep reading Deli Market News for more updates on global retail expansion.