Costco sales skyrocket to new high in Australia

The popularity of Costco is booming in Australia, with the bulk buying store’s sales up by 30 per cent in the year to August.

With annual sales of more than $3.67bn, Costco now sells more than Officeworks, Myer or David Jones.

Retail expert Jo Munro says Costco “taps into a couple of things that we shopaholics love”.

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“The trick is knowing your prices and also comparing them in store. You can get in there with your giant trolley and get carried away,” she told Shane McInnes, filling in for Neil Mitchell.

Costco has a profit of $57.3m this year.