This is the first membership price hike that Costco has announced in seven years
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?
I used to live outside of Seattle and the Costco's out of state are not as good. I can't speak for CA Costco's but I've been to many others and they just don't have the big variety of stuff. Business Centers are super cool though.
If you miss the expanded pizza toppings offerings they used to have, write an email to [email protected]. Not only is he the head honcho, but he’s been through all levels of the company, including EVP of merchandising for a time so he has a unique perspective on what Costco’s customers (members) value.
Here’s a template (AI gen’d, but it’s good.):
Subject: Request to Return Supreme Pizza to Costco Food Court
Dear Mr. Vachris:
I hope this message finds you well. I am writing as a loyal Costco member to express my sincere request for the return of the Supreme (and other toppings selections) Pizza to the food court menu across all Costco locations.
The Supreme Pizza has been a favorite for many members, including myself, due to its delicious taste and variety of toppings. Its absence has been greatly missed, and I believe reintroducing it would be highly appreciated by a significant number of members.
Thank you for your consideration, and I look forward to the possibility of enjoying Supreme Pizza at Costco again soon.
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.
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...
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.