And so Costco making yet another play here with its newest location.Īnd so taking a deeper dive into who exactly that consumer is, well, in China, we're seeing the rise of the middle class. We're seeing a pretty resilient Chinese consumer. And now, as China emerges out of the COVID-19 pandemic, we saw those lockdowns go away, and the Chinese government expects GDP to rise around 5% this year. That was met with essentially pure chaos after 200,000 members signed up, surpassing its goal of 100,000. Now, this comes nearly 3 and 1/2 years after we saw that first physical location in China open in August of 2019. That's right, Costco is expected to open its third location in China near the Disneyland Resort in Shanghai. BROOKE DIPALMA: Well, good morning, Rachelle.
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