HOW COSTCO WON IN JAPAN

Summary from the TLDR Founders newsletter

People waited eight hours to enter Costco's new Okinawa store - five to park, three more to get inside - in a country where Walmart, Tesco, and Carrefour all failed and fled. Costco succeeded by adapting everything: building up instead of out with escalator ramps for carts because land costs too much, selling 30% fresh food, including restaurant-quality sushi at $20 for 48 pieces, and paying 60% above minimum wage, which forced local shops to match or close. The real genius was understanding Japanese shopping culture - customers split bulk purchases with friends and neighbors, giving Costco 162,000 members per warehouse versus 112,000 in America, plus it let corner stores resell Kirkland products during COVID at 20% markups because spreading the brand mattered more than controlling distribution when membership fees generate half your profit.