Will you stick with Costco after this increase?
when it went from $55 to $60 for the Gold Star Everyday membership and $110 to $120 for the Gold Star Executive membership. Say the same jump of $5 and $10 happens this year and the cost of an annual membership at Costco will go up 8.3%—almost as much as inflation.In the grand scheme of things that membership fee increase is only $5 or $10, and is a relatively small amount of money compared to what members sometimes spend on a warehouse run.
Comparatively speaking, other parts of the Costco experience are cheap—and always have been. The $4.99 famous rotisserie chicken loses the company money by being so inexpensive. YetThis is the same reasoning the company employs to cap the hot dog and soda combo in the food court at $1.50. In 2018, one of the co-founders of the big box chain Jim Sinegal told CEO Craig Jelinek to figure out a way to not raise the price since the store is synonymous with the deal.
In the end, Costco has over 100 million members across the globe, and to each individual, the 8.3% membership increase may not break the bank. However, until the announcement is made it will be looming over every shopper's head, just like inflation— especially when inflation may be to blame for the increased price of one of the most popular items in the warehouseTo get all the latest Costco news delivered right to your email inbox every day, sign up for our newsletter!
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