Costco Looks to Expand In Australia
AUSTRALIA - Costco is braving the great Australian outback as the latest frontier to house a few new shops. With 10 warehouses (and counting) located across Australia, Costco is looking to open two new brick-and-mortar locations and even launch an online offering in 2019 as a means to expand its operations in a booming market.
Specifically, Costco plans to open a Brisbane-based location by February and is starting construction on a Perth-based location, with plans to open up shop by December of 2019.
The Sydney Morning Herald reports the retailer’s expansion plans come on the tails of double-digit sales and profit growth last year. As a result, this growth has put pressure on a few of its local competitors like Coles and Woolworths, with the new stores expected to continue to bring the heat.
While Costco declined to provide any information on its online offering, The Sydney Morning Herald notes the roll-out plan will hit every capital city in the new year.
“The U.S. has a very successful online business, and it’s part of retail now that you have omni-channel rollouts. But we’re concentrating on brick and mortar at the moment,” said Costco’s Country Manager Patrick Noone.
How will Costco’s Australia expansion bolster its global operations? And could the mysterious online offering revolutionize the digital grocery world? AndNowUKnow will continue to keep an eye on the newswire.