Costco’s New China Store Triggers Shopping Frenzy on Opening Day
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The opening of Costco Wholesale Corp.’s first store in southern China has drawn massive crowds, with customers queuing for hours as the country’s economic slowdown fuels a budget shopping boom.
Tens of thousands of people lined up outside the warehouse club’s latest outlet in Shenzhen, a tech hub neighboring Hong Kong, before its doors opened at 9 a.m. on Friday, local media including Sing Tao Daily reported. The chain already has five other stores in China, including the financial center Shanghai.