The membership warehouse club chain Costco has been exploring the possibility of opening an outlet and gas station in Iceland. In order to do so it has sought out exceptions from different ministries. Among the options that Costco wishes to offer Icelandic consumers is fresh American meat products as well as pharmacy drugs and alcohol.
One of the two places being considered to house the outlet is in the town of Garðabær, a suburb of Reykjavík, the other is in the capital.
In an interview on RÚV, Garðabær town's mayor Gunnar Einarsson is quoted saying: “I think it is a great idea to welcome this chain to Iceland, we can expect lower prices that are right now way too high. Plus, it would be great to have the chain in Garðabær”.
Costco specializes in offering products and much lower prices by selling in bulk, which requires consumers to have a membership card. However, since Costco offers such a wide array of products, it must receive considerable exceptions to existing Icelandic regulation; including alcohol regulation and the current ban of importing fresh meat. Instead, Costco has offered Icelandic officials to sell Icelandic fish in its stores.
The Minister of Industry and Commerce, Ragnheiður Elín Árnadóttir is also quoted on RÚV stating that she is pleased with more competition in the retail sector and expects government officials to fix any hindrances since “it would decrease prices, at least that is my hope, and it would increase product diversity for consumers”.
The membership warehouse club chain Costco has been exploring the possibility of opening an outlet and gas station in Iceland. In order to do so it has sought out exceptions from different ministries. Among the options that Costco wishes to offer Icelandic consumers is fresh American meat products as well as pharmacy drugs and alcohol.
One of the two places being considered to house the outlet is in the town of Garðabær, a suburb of Reykjavík, the other is in the capital.
In an interview on RÚV, Garðabær town's mayor Gunnar Einarsson is quoted saying: “I think it is a great idea to welcome this chain to Iceland, we can expect lower prices that are right now way too high. Plus, it would be great to have the chain in Garðabær”.
Costco specializes in offering products and much lower prices by selling in bulk, which requires consumers to have a membership card. However, since Costco offers such a wide array of products, it must receive considerable exceptions to existing Icelandic regulation; including alcohol regulation and the current ban of importing fresh meat. Instead, Costco has offered Icelandic officials to sell Icelandic fish in its stores.
The Minister of Industry and Commerce, Ragnheiður Elín Árnadóttir is also quoted on RÚV stating that she is pleased with more competition in the retail sector and expects government officials to fix any hindrances since “it would decrease prices, at least that is my hope, and it would increase product diversity for consumers”.
