The world's second largest retailer Costco is promising to provide stiff competition to established stores when it sets up in New Zealand.
Costco will be offering customers everything from groceries to tyres and optician services when it opens a giant warehouse in Auckland.
It's promising to be up to 30 percent cheaper than rival stores. Costco's managing director Patrick Noone says he looks forward to competing with the likes of The Warehouse, Briscoes and supermarkets.
Chris Wilkinson is the managing director of the consultancy First Retail. He tells Susie Ferguson it will transform retail in New Zealand.