Costco prepares for new Sydney store as part of Australian expansion
American warehouse retailer, Costco, is preparing to open a new Sydney store as part of Australian expansion plans.
The new store is located in Marsden Park in Sydney’s Western suburbs, 50 kilometres from the CBD. Marsden Park is already home to a number of new, large retail sites including Lindt, Ikea, Bunnings and a 8, 048 square metre Aldi.
The site will open Wednesday 30 August 2017 but the store’s discount fuel station is already open for business.
Customers must have a membership to Costco to shop at both the new store and its fuel station. Annual membership to Costco Australia currently costs AUD $55 for businesses and AUD $60 for individuals. In March 2017, Costco put up memberships globally to $65 but spared Australia in the price hike.
The Marsden Park store will be Costco’s ninth Australian store. The chain has plans to next open another store in the Melbourne suburb of Epping and a third store in Brisbane.
In January 2016, Costco Managing Director, Patrick Noone, said other future stores could be located in regional parts of Australia such as Wollongong and Newcastle.
In October 2016, IBISWorld reported that Costco accounted for an estimated 1.7 per cent of Australian supermarket and grocery revenue.
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