Costco is late for an increase in membership prices - here is when it happens
Price increase will be the first of its kind in six years.
It is not uncommon for people to feel a special loyalty to their supermarket or to the favorite home product store, but Costco buyers are of different breed. Whether for the Free samples or cheap bulk price or Kirkland brand clothes , people love Costco unconditionally, but like everything, it has a price.
Since June 2017, members coughing $ 60 per year for basic Costco membership, and for some time, there has been speculation as of the retail giant will increase its membership fees. While customers can breathe a temporary Sigh of relief, the initiates say that an increase in prices arrives and will probably enter into force in 2024.
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"We did not need to do so," said financial director Costco Richard Galanti said about a potential increase in membership fees when calling the first quarter, by USA today . "At this point, we feel pretty well in what we do."
Despite inflation and other economic pressures, the benefits of Costco members are green. According to Statist , nearly 128 million people bought a Costco subscription in 2023; It is almost double the number of Costco members in 2014. It is also a constant increase compared to the counting of members of 2022, which is 118.9 million.
The warehouse reserved for members offers two different types Members: membership of Gold Star and executive membership. The first costs $ 60 per year and grants members to warehouse access, catering area, pharmacy and eye center, tire center, travel booking and purchases in line. For those who wish to make follies, membership of the executive has an annual value of $ 120 and is delivered with all the above -mentioned advantages, as well as a free costco connection and an annual reward of 2%.
In the past, Costco would increase its membership prices approximately every five to six years. However, it's been six years since the last price increase, letting buyers look forward to the next one hitting.
Galanti does not deny rumors either, noting that it is "a question of when, not so".
USB analyst Michael Lasser , which followed the story closely, predicts that Costco will announce its new membership prices next summer, by USA today . How much they raise them, however, remains to be known.
Earlier this year, Costco Crackle After having noticed an alarming rate of non-members using the maps of others to enter the store, then sneak in self-truth. To combat the problem, Costco now obliges buyers to display a photo identity document at Auto-Grenan. AE0FCC31AE342FD3A1346EBB1F342FCB
"Our membership policy stipulates that our membership cards are not transferable and since the expansion of our self-service fund, we have noticed that non-members buyers use membership cards that do not belong to them", Costco spokesman said Better life at the time. "We do not think that it is true that non-members receive the same advantages and the same prices as our members. As we are already asking for the credit membership card, we now ask to see their membership card With their photo during our self-service cash registers. "
