Costco CEO has just made this daring promise to buyers in a new interview
If you shop at Costco, you will want to hear what he had to say.
Costco buyers Understand the advantages of bulk purchase, especially when it comes to tandem with lower prices. Many of us go to these warehouse clubs every month to refuel - and some can stop more often just to enjoy the famous Costco Food Toutt. Whatever frequency you flash your membership card, you will probably want to be aware of a new promise that Costco CEOCraig Jelinek I just made buyers. Read the rest to discover what he said in a new interview and how it could affect your travels in the future.
Read this then:Costco is in the fire of buyers to get rid of this popular product.
Costco buyers adapted to changes in 2022.
So far this year, Costco has made waves due to various policy changes. In April, the retailer deleted hisSpecial covids For the elders, and in May, he ended hisExclusive mortgage program. The price of some ofCostco food has also been affected by the increase in inflation, even if the membership fees have been surprisingly coherent to date.
Costco made the headlines last week, with initiates reporting that members would seeHigher price labels For cooking at bacon and popular cheese and 20 ounce soda sold on its catering area. Chicken cooking will now cost you $ 3.99, an increase of 33% compared to its previous price of $ 2.99, and a 20 ounce soda will cost you 0.69, a 17% increase compared to Its old price of $ 0.59.
These figures may seem disturbing, but the members can keep a certain hope knowing that a basic food of the Costco snack is apparently sheltered from inflation.
Members will be happy to hear what Ilinek had to say about a popular product.
In an interview of July 11 on CNBCSquawk in the street, Jelinek was asked about the price of one of theCostco beloved menu elements—The hot dog.
When asked if Costco would increase the price of the Hot-Dog combo and Soda, the CEO simply replied: "No." According to CNBC, the favorite fans' favorite hot dog and the 20 ounce soda combo have been sold for $ 1.50 in recent decades.
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A former leader feels passionate about hot dog prices.
Costco's hot dog combo was sold at its price of $ 1.50Since the mid -80s, by CNN, even with the prices of other arrow food with inflation. But there can be more in history.AE0FCC31AE342FD3A1346EBB1F342FCB
Unlike other menu items, Costco has strategically kept the price of coherent hot dog, choosing to sell drinks from the 20 ounce fountain instead of 12 more expensive cans. Apparently, the desire to remain faithful to this price in fact comes from high-ups, as an old CEO and co-founder of CostcoJim SinegalOnce, rejected Jelinek's call to increase the price of the Hot Dog-Soda combo.
"If you are increasing [the price of the Hot-Dog, I will kill you," Sinegal told his successor, as 425 business reported. "Place it."
Aside from this conversation, Sinegal was also vocal in the press on its desire to maintain the price at $ 1.50. "I know that it seems crazy to do a lot about a hot dog, but we spend a lot of time on it," Sinegal explained to theSeattle Times In 2009. "We are known for this hot dog. This is something with which you do not play."
Customers must appreciate consistency, because Costco sold 122 million of these combos in 2021, by CNN.
Another Costco advantage is protected from inflation, at least for the moment.
Jelinek also talked about another cost that gave birth to buyers -membership price. Costo Costco membership is currently $ 60 a year, while executive membership is $ 120. The wholesaler generally increases these annual prices every 5 and a half years, and with the last hike in June 2017, many expected a higher bill this summer.
But on July 11, Jelinek told CNBC that the increase, which generally totals $ 10, is "not on the table at the moment".
"I did it very clearly, I don't think it's the right time," he said. "Our registrations continue to be strong."
