![]() Zhou said when she or a friend spots an Asian product at Costco that they would normally see only at an ethnic store, they tell others about it in group chats on Chinese messaging app WeChat. Its shares are down more than 20% so far this year. The company is scheduled to report its latest results after the market closes Thursday. With a market value of $185 billion, Costco reported $195.93 billion in total revenue in 2021, up more than 17% from the prior year. But seeing those products at one of the largest retailers in the world is rare. Leung's warehouse in California sells poke bowls.Īsian American consumers can find food products of their diaspora at local ethnic grocers and Asian supermarket chains such as H Mart, 99 Ranch Market and Patel Brothers. She recalled seeing displays for Chinese holidays Mid Autumn Festival and Lunar New Year at Costco in the past year. Zhou and other Costco shoppers noted their local stores have added specialty Asian items such as boba ice cream bars, lap cheong and oyster sauce to their rotating inventory in recent years. "I like Costco because they have very good quality at a much lower price than other grocery stores." "Almost all my friends have Costco memberships," said Zhou, who works in information technology. Zhou became a Costco member around 2013 and now shops weekly for food, household products and gas at her local warehouse in greater Cleveland. So if a business like a Costco caters to the Asian community, they share that out and that multiplies out."Ĭindy Zhou, 50, first heard about Costco from a friend who is also an immigrant from China. "Word of mouth and the influence of the community spreads, and that's what helps elevate a business. "Every once in a very blue moon would you hear about a major retailer focused in on the Asian community," Cohen said. The warehouse retailer famously does not spend any money on advertising, but word of mouth can cultivate brand affinity among different communities, said Marshal Cohen, chief industry analyst for market research firm NPD Group. "Regardless of the products we sell, Costco's buying philosophy is the same: Research the marketplace, determine the variety of products our members are interested in, and negotiate an exceptional value on quality products and services," Costco management told CNBC in an email. consumer.Ĭostco declined to comment directly on inventory and consumer strategy as it relates to Asian shoppers. Durian is used in Southeast Asian cuisines and is known for its strong scent. ![]() As a result, Asian consumers are more than twice as likely to shop at warehouse clubs than the average U.S. Wendy Leung rarely saw durian in grocery stores growing up in Los Angeles, but the 45-year-old nonprofit worker found the fruit at her local Costco Wholesale in San Fernando Valley this April. ![]() Asian Americans are more likely to buy in bulk and seek bargains. Households of Asian descent tend to be larger than those of the overall U.S. On average, Asian Americans exhibit some shopping habits that differ from those of other consumers, NielsenIQ found. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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