ith the Moutai now running dry, is the honeymoon period coming to an end for China’s first Costco?
Last week, the outlet opened in suburban Shanghai to ravenous crowds who forced the store to shut down early on its first day with their ferocity. Costco limited shoppers to just 2,000 at one time, leading to three-hour-long lines outside the store with some even arriving at 2 am in the morning.
However, there is reportedly now a different vibe in the store. One of Costco’s main selling points was its cheap Moutai, China’s favorite liquor, with bottles of Kweichow Moutai selling for a mere 1,498 yuan ($209). But shoppers have now been disappointed to find these bottles sold out.
Costco operates by selling membership cards, which cost 299 yuan ($42) a year in China. The company has already celebrated its goal of reaching 100,000 members in the country.
However, after checking out what the store has to offer, members are now reportedly queuing up to return their cards and receive a refund, finding that the deals on most daily items at the outlet don’t live up to the hype.