Blog: Costco catches Oz by surprise
Dean Best | 13 March 2009
Australia's food retail market is renowned for being one of the most consolidated on the planet. But there is a new kid on the block: the Americans are coming.
US club retailer Costco is to open its first store in Australia in July – some five months ahead of schedule.
News that Costco will open the store in Melbourne came today (13 March) and was a welcome surprise amid the plethora of bad-news stories floating around at the moment.
Coscto is also looking for a suitable site in Sydney and, to herald its entry in Australia, has issued a promotional video – which you can see here.
Now, Australia's grocer market remains dominated by Woolworths Ltd and Coles but, in a market that has faced criticism for being closed to competition, consumers are sure to welcome the appearance of another retailer on the landscape.
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