Costco Membership Price Goes Up

As basic necessities have gotten more and more expensive, people have tried to save money every way possible, including by buying in bulk. Costco has helped keep prices low for a long time, but the time has come for that to change.

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Here are Five Fast Facts on Costco’s membership price increase:

1. 😁 The Normals - For normal membership holders in the US and Canada, the annual price is going to increase by $5, up to $65, beginning September 1st. Settle down, it’s the first increase in seven years. You can do this! 

2. 🧐 The Specials - Gold star and business memberships will also increase by $5, up to $65, and executive memberships will go up by $10, to $130.

3. 🤏 Small Slice - The company says that membership fees were just under 2% of the total revenue for last year.

4. 💰 Big Picture - The fee increases will affect about 52 million customers, almost half of which are executive memberships.

5. 👍 Customer Response - Customers don’t seem to mind. In the month after the announcement the company landed almost $24.5 billion in sales, which was 7.4% higher than last year.

🔥Bottom line: It pays to make everyone’s dollar stretch further. Costco provides great prices on lots of everyday stuff that lots of people want and need. So, while it’s not ideal that the cost is going up, Costco’s customers seem to be saying that the price is still well worth it! It’s undoubtedly the samples... 😉

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What do you think about your Costco membership?

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