In news that is sure to stir up excitement for many Australians, Costco is set to expand its locations nationwide rapidly, ensuring there will be at least one store in each state or territory, with the exception of the Northern Territory.
For those yet to hop aboard the Costco train, the retailer sells quality brand-name products ranging from fashion to food to technology and more at substantially lower prices than other retailers.
Selling these products at a ‘wholesale’ price, Costco opened its first store in Australia in Melbourne in 2009, before expanding its operations to an additional four stores in Victoria, four in New South Wales, two in Queensland, and one location in Adelaide, Perth and Canberra.
WATCH NOW: Costco Warehouse Australia Managing Director Patrick Noone discusses expansion plans on Sunrise. Article continues after video.
Often the products are sold in bulk qualities, saving shoppers big bucks if they have the storage space to accommodate the excessive amount of items purchased.
But whilst the savings are a dream come true, they don’t come for free as shoppers are required to purchase a membership to the brand to gain entry into any of the Costco Australia locations.
With two tiers – Executive Member and Gold Star Membership – ranging from $130 to $65 per year, it’s not for everyone, but for many, the annual sign-up fee is worth it.
Speaking on Sunrise, Costco Warehouse Australia Managing Director Patrick Noone revealed that the retailer would be opening an additional 20 Costco stores across the country in the next five years.
“We’re looking for more locations in Sydney,” Patrick said.
“We have another location we’re expected to open in Melbourne in the next year and a half and there are other locations around the country.”
“Brisbane could do another one, Perth, even Adelaide and Hobart we are looking at as well.”
Patrick also chimed in with his two cents on whether the large quantities Costco products were sold in were a savings miracle or a storage nightmare.
“Everything you buy in larger quantities but the savings are tremendous because of the larger packaging, larger size, [which means] less packaging, and better value.”
In July 2022, Patrick first spoke of the upcoming expansion plans for Costco in Australia, telling realcommercial.com.au that locations in Hobart, north and south Sydney, Wollongong, north Perth, south Adelaide, and Geelong were “aspirational locations” for the retailer.
“These are the kind of hotspots that we’re trawling through all the time looking for good sites,” he said.
He then added that Sydney would be a priority location.
“When you look at the markets in Australia, the Sydney marker definitely is a great marker for Costco and we only have three Costcos here with about six million people.”
“So there is a lot more opportunity here in this marketplace.”
