The membership increase, set for September 1, 2024, will impact around 52 million memberships, a little over half of which are on the “Executive” plan.
The annual US and Canada “Gold Star” memberships, Business and Business add-on members will see fees increase by $5. The annual fee for a “Gold Star” member currently sits at $60 plus sales tax, Costco said in an announcement this week.
Higher-tier “Executive” members in the US and Canada will see annual fees increase from $120 to $130. The maximum annual 2 percent reward, associated with the Executive tier, will increase from $1,000 to $1,250.
This is the first membership price hike Costco has announced in seven years.
“To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe,” Costco’s new chief financial officer, Gary Millerchip, said in May.
"I came to [Sinegal] once, and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends.’ And he said, ‘If you raise the ef**** hot dog, I will kill you. Figure it out,” Jelinek recalled in a 2018 presentation, 425 Business reported.
Old price, you need to spend 3000 annually to meet the break even of executive membership.
After increase, the break even is 3250. Considering the inflation, I think it still worth to keep the executive membership if you visit Costco regularly.
Not sure if Sams will follow this. Maybe Sams would take this chance to attract more members?
Don’t forget, you can also request a refund for the price difference between the regular and executive if you don’t meet the breakeven point
I’d rather they raise the hot dog price a bit than get rid of all the good fixings and switching to fucking Pepsi drinks. the price is the same but inflation is “effing” us anyway.
Why doesn’t costco just doesn’t put such things to a membership vote
Because listening to customers is stupid 90% of the time.
Raise the hotdog price and give me back onions!
You can ask for onions at the counter.
https://www.eatthis.com/costco-food-court-diced-onions/When it was self service, I’ve seen people dispensing a ton of onions into ziplock bags presumably to take home.
You guys pay to go to a fucking shop?!?! 😂
It’s not just discounted goods, there are many other perks of the membership. For instance, I have a $0 annual fee credit card from them which does a cash back on purchases. Last year, just through regular spending, I received $1200. That alone paid for the membership many times over, not to mention all the other things.
Ah yes, some billionaire just gave you $1200 at his own expense, with no profit for himself aye
They make plenty of profit off of me when I shop there. And the credit card company makes profit off me too, by the fees they charge merchants when I use their card. (though none off of balance APR, as I pay it off every month). The net result is that we both benefit from the exchange. This is a mutually-beneficial relationship. Not everything is zero-sum.
Target: 24pack of 16.9oz water bottles, $5.99
Costco: 40pack of 16.9oz water bottles, $3.99
That’s the main thing I get there, but basically all items are on a similar ‘more for less’ price scale. It’s incredibly easy to break even vs other local stores. Their stores are cleaner, the staff nicer, the bakery items (imo) tastier and fresher. They offer groceries, furniture, appliances, clothing, beef, dairy, prescriptions, eyewear, tires, vacation packages, hot food, fuel and washing for your car…
Why are you buying so many water bottles? Can’t you just get a nice one and refill it?
Yeah, most known US whole sale markets have an ‘Exclusive Membership’ fee to get access.
If you spend more than $3250 a year in the store, it is worth it for the most part.
So you pay to get a discount?
Fuckin planet-brain move guys lmfao
Do you not understand math?
Better than you understand getting shafted by billionaires mate lol
Edit: improved a bit: phrasing, grammer, words
You get 2% back, so if your budget allows, you end up on top.
'Tis be how capitalism works, yo.
As well as credit scores and debt relationships.
Post script: Please correct me or improve on my information if my thinking on the subject is wrong or needs improvement.
you get 2% back
Is this the same as the 2% the credit card companies took off you in advance in order to pretend you were getting it back?
