That we had heard the rumour was enough; discounted pumps are already flowing at the petrol station of soon-to-be-opened Costco in Nanjing. There, we were met with more good news; Costco Nanjing is confirmed to open on 28 May at 09:00.
It’s been more than 5 years since word began spreading that the giant American discount and membership retailer would be landing in the Southern Capital. Finally, it’s about to happen, and The Nanjinger’s visit today was indicative of good things to come.
For a start, the location off Jiyin Avenue in Jiangning District; already showing up on online maps and bang in the middle of nowhere, which is often accepted best practice for many giant US retailers, not jammed into a mall like Sam’s Club in Nanjing.
The downside is no access to a metro, but at just 15 minutes by car from Baijia Lake, this presents little hinderance.
While it is also certain that such a giant space will not deter the crowds, the 51,000 square-metre store appears to be spacious enough for most occasions. That said, we have no plans to go on a weekend.
Then there is the pre-opening discounted membership price. Pulling up onto the petrol station’s forecourt today, friendly staff were more than happy to introduce their promotion and give us a membership on the spot. Later, that’s going to cost ¥299 for 1 year. Right now, it’s available for ¥199.
According to Yicai Global, the petrol station is Costco’s first in China, while that financial news outlet also states that a litre of fuel there costs 10-15 percent less than the regular market price.
The Nanjinger, on the other hand, today filled up with 92 grade petrol priced at ¥7.49 per litre. With ¥7.97 the regular current price of that grade in China, the saving was in fact just 6 percent. But it was worth having, nevertheless.
The main other grades of petrol, 95 and 98, are priced at ¥7.95 and ¥8.99, respectively.
Lastly, the Nanjing store shall feature a number of other facilities which are common to all Costco outlets in China, namely optical and hearing aid services plus a food court, and, still with cars, a tire centre.
Come 28 May, Costco shall have a presence in six cities in China, with two in Shanghai, and one each in Hangzhou, Ningbo, Shenzhen and Suzhou.
But why choose Jiangning in Nanjing? Costco’s non-negotiable position is a population of 1 million within a 30-minute drive for them to choose a location.
With that decision made, Costco then proceeded to pump ¥650 million in to its Nanjing warehouse. Annual sales of ¥1.4 billion are expected.
