c-costco-RTSFV5I-Shannon Stapleton

Why Iceland is so excited for its first Costco

65,360

In late May, a Facebook group dedicated to Iceland’s first Costco store had about 65,360 members—one-fifth of Iceland’s population.

Published   |  Photo by Reuters/Shannon Stapleton
c-costco-RTSFV5I-Shannon Stapleton
65,360

Reykjavik is the 16th most expensive major city in the world. Products are so expensive in part because it has only three main grocers.

c-costco-RTSFV5I-Shannon Stapleton
65,360

Frustrated with that quasi-monopoly, Icelanders welcome the competition (and the lower prices) brought by Costco.

c-costco-RTSFV5I-Shannon Stapleton
65,360

People are using the Facebook group to compare prices of products sold in the membership-only retailer.

c-costco-RTSFV5I-Shannon Stapleton
65,360

Besides the products, Icelanders are also excited about Costco’s gasoline, which is now the cheapest in the country.

c-gas-RTR2Y84K-Gene Blevins

Reuters/Gene Blevins

Published

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