Not only have food prices gone up, but most things U.S. citizens need in their day-to-day. As the cost of almost everything went up, it is more than likely that Costco membership may increase as well.
Costco is a very successful retail store but they are also affected by inflation. So, as Costo’s Chief Financial Officer, Richard Galanti, announced in one of their earnings reports, memberships will certainly go up.
Despite the fact that it might not be a sudden move, it is a matter of “when” and not “if”. Bear in mind that the last time its price increased was in 2017, so it is after 5 years and 7 months when it is updated.
What is the price of a Costco membership?
For instance, the price of a Gold Star membership at Costco is just 60 dollars. As for June 2017, it was $55, so there was a $5 increase. Those who opt for the Executive membership will have to pay $120.
It is uncertain when this price rise will take place, but it did not happen in January though. Despite the fact that Costco could have made more money by setting a higher price, they managed to get more members to cope with it.
Nobody knows how much the amount of money Costco’s membership may go up. However, as the last time it increased was just for 5 dollars, consumers hope it is a similar amount rather than a bigger one.
What are the advantages of having a membership?
The main advantage is that you will be able to use it at any Costco location. Not just in the USA, but also anywhere else in the world. They boast consumers will have access to quality items too. They also allow you to save money on well-known brands. In addition, they offer a wide range of items. Take for example household goods, electronics, travel packages, and beauty items.
What’s more, they offer a risk-free guarantee. They make sure Costco customers are fully satisfied. Those who upgrade and have the Executive Member membership will take advantage of a 2% Reward annually. Apart from that, you could get bigger discounts and other perks.