Costco (COST) cut the ribbon at its new store in Shanghai and proceeded to watch shoppers overrun the expansive aisles, as seen in numerous posts on Twitter. In fact, the crowds got so big that the store was forced to cut opening day short over safety worries, according to news reports. For Costco, the day one response — and the inevitable surge in new memberships — should temper concerns on Wall Street that its bulk-selling model wouldn’t work in the hyper local Chinese food market.
