Costco

Costco

Postby ogopogo90 » Jul 16th, 2012, 1:09 pm

I heard that Costco officials were in Penticton last week looking at a property (not sure exactly where). Anyone have any details?

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Re: Costco Coming?

Postby Alex1967 » Jul 16th, 2012, 1:45 pm

As nice as it would be, not a chance.
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Re: Costco Coming?

Postby ogopogo90 » Jul 16th, 2012, 3:43 pm

This is what John Thomson said in his recent report:

"I understand from a reliable source that the Costco people have been in South Okanagan taking a look at the property that is available for their size of footprint. Costco certainly does a great deal of business with the people from the South Okanagan and the Kootenays. The store here has become a tourist attraction brining people to town to shop and staying over for the night."

http://www.castanet.net/edition/news-story--13-.htm
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Re: Costco Coming?

Postby nepal » Jul 16th, 2012, 6:47 pm

There are now 8 locations in the Lower Mainland. To them, the South Okanagan may mean, between the Okanagan Lake Bridge and Osoyoos, Penticton being central to the ever expanding South Okanagan market.
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Re: Costco Coming?

Postby Static » Jul 16th, 2012, 10:39 pm

nepal wrote:There are now 8 locations in the Lower Mainland. To them, the South Okanagan may mean, between the Okanagan Lake Bridge and Osoyoos, Penticton being central to the ever expanding South Okanagan market.

What ever expanding S.O. market? Provide some credibal sources to that states the population is growing.
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Re: Costco Coming?

Postby LoneWolf_53 » Jul 17th, 2012, 12:10 am

Well back when I lived in Penticton the population was just a tad over 16,000 people and now it's 40,000 give or take a few, so is that credible enough? :wink:

It sure as heck isn't shrinking.
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Re: Costco Coming?

Postby Static » Jul 17th, 2012, 6:27 am

LoneWolf_53 wrote:Well back when I lived in Penticton the population was just a tad over 16,000 people and now it's 40,000 give or take a few, so is that credible enough? :wink:

It sure as heck isn't shrinking.

I was talking about growth over the last 20 years. The surrounding areas have experienced the growth, buy Penticton tends to stay flat to below average growth for the most part.
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Re: Costco Coming?

Postby twobits » Jul 17th, 2012, 6:36 am

Static wrote: I was talking about growth over the last 20 years. The surrounding areas have experienced the growth, buy Penticton tends to stay flat to below average growth for the most part.


No outfit is going to focus on Penticton's population or it's specific growth rate. They look at the entire trading area and in this case it's Summerland to the border west to Princeton.
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Re: Costco Coming?

Postby Static » Jul 17th, 2012, 6:51 am

True dat, Twobits. I am not sure if the trading area would have a large enough population. I would have though that the kelowna store would be for the vernon to Penticton trade area.
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Re: Costco Coming?

Postby ToddT » Jul 17th, 2012, 6:58 am

Not to mention the Boundary/West Kootenay. Lots come up to the big city of Penticton to shop.
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Re: Costco Coming?

Postby zookeeper » Jul 17th, 2012, 7:38 am

Maybe the PIB is getting the ball rolling?

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Re: Costco Coming?

Postby Tony » Jul 17th, 2012, 7:50 am

There are several locations being looked at, but there's nothing concrete yet. I know they looked at the old mill site in OK Falls as well. The trading area would extend from the West Kootenays and Grand Forks to Princeton, south to Omak, Wa. Grand Forks has the option of Kelowna as well, but OK Falls is about a 1/2 hour closer so might be a draw for them.

They've been looking for a while.
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Re: Costco Coming?

Postby Captain77 » Jul 17th, 2012, 7:54 am

Last time I was in Kelowna Costco they had buckets all over the floor because of numerous leaks in the roof. It didn't leave a good impression, having to manouver around buckets and get hit with the occasional splash. If they can't cover a new roof in Kelowna, how will they manage a new Costco?
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Re: Costco Coming?

Postby twobits » Jul 17th, 2012, 8:14 am

This Costco thing coming up yet again seems rather untimely given Loblaws takeover of the Zellars store and converting it into a super store. 145,000 sq ft of Costco like retailing. Add to that Real Canadian continuing to operate, Wallmarts growing expansion into grocery and the term market saturation comes to mind. I just don't see it but I have seen stranger things.
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Re: Costco Coming?

Postby nepal » Jul 18th, 2012, 7:20 pm

Costco knows exactly where their shoppers come from, due to the information on the membership cards, which are scanned every time they are used.

Apparently the Kelowna building was paid for in a short period of time, just from the membership fees.

The South Okanagan is expanding. Population growth goes in cycles.

RDOS web site: "The area's mild climate, scenic environment and wide variety of recreational opportunities continue to attracted many people to the area. The Okanagan-Similkameen Regional District's (RDOS) population is projected to grow by 36% (28,791 additional people) from 79,457 in 2006 to 108,226 by 2031."

2011: RDOS (80,472), RDKB (31,183), Peachland (5200) and WK (30,892). ('South of the bridge')
http://www.statcan.gc.ca/start-debut-eng.html

I prefer a smaller population, but growth is inevitable. The Kelowna Costco was built past the edge of urban Kelowna, now it is in the middle of paved-over urbania. I think Penticton is a perfect size now, with almost all the amenities, so I have no compulsion for more big box stores.
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