The new Costco Ipswich store opens this week (Thursday 2 May) and will be stocked with $20 million worth of cut price merchandise.
The big ticket items include a $144,000 diamond ring and an $18,000 big screen television.
Costco Australia Managing Director Patrick Noone toured the Bundamba facility today showing off some of the “wow” high-end items on sale as the highly-anticipated opening day approaches.
The warehouse was being jam-packed with goods up to the last minute and some of the 280 staff needed were still being hired.
The Grand Opening is expected to attract tens of thousands of shoppers, from Ipswich and across South East Queensland, to the second store in the Sunshine State.
And there will be opening day specials just for Ipswich residents who have signed up as Costco members. They will receive an email the night before advising them what is there just for them – and the tip is it will be everyday household items at crazy prices.
The common perception with shoppers is that Costco is about buying toilet paper and food in bulk.
But, as Mr Noone revealed today, it is also about big name brands – including top fashion and jewellery – and discounted prices, some items 30, 40 and 50 per cent off what people would pay in the High St.
“We are just like a department store in a very plain building with concrete floors and fluorescent lights, nothing special,” he said.
“We have a lot of high-end brand names that you will see anywhere else, but they are heavily discounted here. We have a lot of stock.”
Mr Noone said Costco’s ability to buy in bulk, hundreds upon hundreds of the same items, meant it could offer rock bottom prices.
But, unlike other states, the two Queensland stores cannot offer discounted alcohol (despite it being advertised in sales brochures).
There are Mother’s Day specials, including handbags and purses from Prada, Marc Jacobs and Guess.
Mr Noone said the 4.35 carat diamond ring that has been discounted 15-20 percent to its $144,000 price tag was expected to sell on opening day.
“We also have seasonal merchandise, such as winter furniture … at Costco everything has a season, there is something new going on all the time”.
Dozens of people were signing up at the membership counter today, although Costco does not like to reveal exact numbers.