There Is Some Absolutely Stunning News For Costco Fans
Discount grocery company CostCo Wholesale will launch an online store in Australia within the next 18 months as it extends its reach.
Costco Australia managing director Patrick No-one said the retailer would launch an e-commerce offer after opening a distribution centre in Sydney's west.
"That will be up and running in early 2019 and will have space in there to explore that dotcom business," Mr Noone told The Australian Financial Review during a preview of the retailer's third Sydney store at the Sydney Business Park in Marsden Park on Tuesday.
The online offering will allow Costco to reach new customers and markets beyond the nine stores it currently has and it hopes to increase the competition on Myer and David Jones, Woolworths, Coles and Metcash, Bunnings, Officeworks, JB Hi-Fi and Super Retail Group.
"Australia is such a big country and our population is spread out, so it's hard to get from Wagga Wagga to Costco in Sydney," Mr Noone said.
"It would be almost impossible for us to build a warehouse in Wagga Wagga so a dotcom business gives those people an opportunity to buy the items we sell."