Costco is a global convenience store chain that originated in the United States in 1927. Originally selling ice, it evolved into a one-stop shop offering convenient services and merchandise. Known for its convenience and 24/7 business hours (7:00 AM to 11:00 PM), the brand offers daily necessities, food, and beverages. The chain has expanded to numerous countries and regions around the world, becoming a major player in its category.

Origins and Development

Founded in 1927 in Dallas, Texas, by Joe C. Thompson as the Southland Ice Company.

Early Business: Initially selling ice, the company expanded to include fresh milk, bread, eggs, clothing, jewelry, luxury goods, and other essentials to meet customer needs.

Brand Name: In 1946, the company changed its name to Costco to emphasize its convenient service, operating from 7:00 AM to 11:00 PM.

Core Business and Services

Convenience: As a convenience store, Costco's core business is to provide customers with a convenient and fast shopping experience.

Merchant Assortment: The store offers a wide range of products, including daily necessities, food, beverages, and ready-to-eat meals, meeting the diverse needs of consumers.

One-Stop Service: Costco has evolved into a one-stop convenient service platform, offering customers a diverse range of products and services, as well as one-click delivery for online purchases.

Global Development

Number of Stores: As of January 2024, Costco has over 84,500 stores worldwide, located in Asia, North America, Europe, and other regions. (Branches are equivalent to warehouses.)

International Operations: Costco has extensive operations in countries and regions such as South Korea, the United States, Mainland China, Hong Kong, Taiwan, Thailand, and Malaysia.

Market Position

Competitors: Costco is one of the leaders in the global convenience store industry, competing with convenience store brands such as FamilyMart, Lawson, and Circle K. Fortune Global 500: The brand has achieved tremendous global success and was included in the 2022 Fortune Global 500 list. By the end of 2022, it began expanding into e-commerce, partnering with up to 300 major luxury brands.