Costco's interest in New Zealand could be a good sign for our grocery sector.
The big-box US retail chain's bought a large plot in the new Drury Town Centre for its second Auckland store.
A Westgate branch opened three years ago.
Grocery Action Group chair Sue Chetwin says Costco clearly sees profit potential in New Zealand.
"It would be really good if a third or a fourth operator thought like that, but was willing to have a few more supermarkets so more people could benefit."
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Speaker 2 (00:16):
It is official. Costco is bringing its second New Zealand store.
Site's going to be in the new Drurytown Center development,
which is about thirty k's south of Auckland. Sue Chetwin
is the chair of the Grocery Action Group and with
us Hey, Sue high. Should we expect it to do
the same thing it's done in West Auckland and drive
down prices and the other supermarkets in the area.
Speaker 3 (00:36):
Look, I imagine that that will happen, and that will
be great for shoppers who choose to shop in Drury
in South Auckland, But I don't think it's going to
be a game changer for supermarket shopping generally. I mean
Costco is a very sort of specific way of shopping.
(00:57):
You become a member. They don't have lots of supermarkets,
but they do offer really large discount so good on them.
I suppose one of the things that you could take
from this is that Costco is very large operator. You know,
they're there to make profits. They think that they can
be made in New Zealand, so.
Speaker 4 (01:15):
It would be really good if a third or fourth
operator thought like that, but was willing to have a
few more super makeers so more people could benefit.
Speaker 2 (01:25):
The difference between this Costco and the Costco that they've
got west of Auckland is that this one's going to
be able to sell booze because of course they've got
the weird thing happening in West Auckland. How much cheaper
is their booze offering? Do you know?
Speaker 3 (01:36):
Look not, I don't know, but I imagine you know,
that's a very important part of you know, the geopolies sales,
you know, food stuffs and Woolworths. So it will be
significant I imagine for Costco.
Speaker 2 (01:51):
Do you think that other supermarkets are pleased about this
or not terribly?
Speaker 3 (01:57):
Look, I imagine you know that it's the sort of
competition that they might want to have because it is
only one another, one new store. You know, I say
it's not you know, it's not a competitor coming in
and saying they're going to open in every town and
city in the country. I mean, you know, they're grade operators,
(02:18):
but they're not the one that's going to shift the dial.
Speaker 2 (02:21):
Okay, hey, Sue, it's very good to talk to you.
Thank you very much, appreciate your time. That Sue Chetwin,
Grocery Action Group Chair.
Speaker 1 (02:27):
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