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Costco prepares to enter Australian grocery market

Costco Wholesale, the largest US warehouse club, is preparing to enter into the Australian grocery market, with the launch of its first outlet in Melbourne, August 17.

The warehouse giant will provide new competition to Woolworths and Coles and expects to lower Australian grocery prices.

Commenting on the arrival of Costco in Australia and the competition it will provide, Australian managing director Patrick Noone said, “lower prices are important because people shop with us to get value.”

The Melbourne outlet, located in Docklands on the fringe of the central business district, will be followed by a store in Sydney’s western suburbs before Costco looks at opening more stores across the country.

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