Costco Boosts Membership Fees, Hoping to Reverse Sliding Profits

[rado]

https://news.google.com/news/amp?cau...spx#pt0-633050

Costco said it would implement a fee increase effective June 1. The new pricing scheme will include a $5-per-year annual price increase for U.S. and Canadian Gold Star, Business, and Business add-on members, bringing the new rate to $60 per year. Executive memberships in the U.S. and Canada will rise at double that rate, climbing $10 to $120 per year. Costco estimates that the increases will have an effect on 35 million members, with half of them being executive members at the higher rate.

[Bouncer]

I have the executive membership because the membership usually pays for itself. It's based on how much you spend per year.

So if my membership is suddenly double the price and doesn't pay for itself anymore I will simply drop my membership down to the basic gold star membership. Simple. I imagine others will do the same if there is no longer an incentive to have the most expensive membership. Seems like a stupid move to me.

Sounds like they are making it so that only people who spend thousands a month at costco will have a use for the executive membership. They are going to have a huge drop off of executive memberships.

[rado]

What is the incentive for the mkst expensive one? Our BJ's membership is a basic one

[Bouncer]

What is the incentive for the mkst expensive one? Our BJ's membership is a basic one

The membership pays for itself and beyond the more you spend because you get 2% back on your purchases. For me this usually translates to a check from Costco once per year for $75-$100. I do pretty much all of my grocery shopping there so the 2% option makes sense for me. The check also comes with your renewal membership papers so I just use that to renew the membership. This works for me because I spend enough per year at Costco so it basically means my membership is free. If you go to Costco once every 3 months or something the executive membership wouldn't be worth it and you'd only get a check for like $15 bucks or whatever that doesn't cover the cost of the membership.

But if they bump the price for executive up by $100 this will no longer make sense for me and I'll just drop down to the cheapest membership option.

[rado]

Well we go every Friday to BJ's, here now as a matter of fact.

Sucks for you then, damn.

[Turbo3000]

Well we go every Friday to BJ's, here now as a matter of fact.

Sucks for you then, damn.

You like it?

We could drive 25 minutes to one. Can't decide if it is worth it.

[rado]

You like it?

We could drive 25 minutes to one. Can't decide if it is worth it.

I do. IMO BJ's us superior to sams or costco. I've done them all and we lime BJ's chicken and meat selection.

[Bouncer]

You like it?

We could drive 25 minutes to one. Can't decide if it is worth it.

if you eat food in bulk its worth it compared to grocery store save you thousands. but do you eat like a bodybuilder or a snow boarder type fag? :D