Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Costco will be good for suppliers, consumers, says FGC

Bulk discount retailer Costco will be good for both New Zealand suppliers and consumers, says the NZ Food & Grocery Council.

Chief Executive Katherine Rich welcomes today’s announcement that the world’s second biggest retailer is seeking consents to build a 14,000sq m warehouse in Westgate in Auckland.

“This will be a win for suppliers and for consumers.

“Costco is another competitor for manufacturers to supply to, and they offer consumers another choice.

“They offer a different retail format with their massive stores which have everything. Their bulk model works well in Australia and the US and I see reason why it won’t work here. Buying in bulk is quite a different way of shopping but I think New Zealanders will welcome their heavily discounted offering.

“There is room for another retailer offering groceries in our highly competitive market where just two retailers have 95 per cent of the market – the most concentrated market in the developed world.”


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:

Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:

Research: Climate Change Throws Tree Seeding Out Of Sync – New Study

Climate change is negatively affecting tree reproduction by throwing seed production systems out of synchronisation, according to a new international study co-authored by a University of Canterbury scientist. Many tree species worldwide produce large ... More>>

ALSO:


Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: