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
Reykjavik is the 16th most expensive major city in the world. Products are so expensive in part because it has only three main grocers.
Frustrated with that quasi-monopoly, Icelanders welcome the competition (and the lower prices) brought by Costco.
People are using the Facebook group to compare prices of products sold in the membership-only retailer.
Besides the products, Icelanders are also excited about Costco’s gasoline, which is now the cheapest in the country.
Reuters/Gene Blevins
