How Costco Became A Massive "Members Only" Retailer

  • Gepubliceerd op 8 maanden geleden

    CNBC

    Looptijd: 22:02

    Costco makes billions doing what in retail might once have been thought unthinkable: charge people to shop there. The company draws most of its income from membership fees, and has a nearly 90 percent membership renewal rate. It charges very low prices on goods, rotates its inventory, and pays employees better than the retail average. But how long can it last?
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Katie Owl
Katie Owl

Lol I'm probably gonna get a membership when I get a job

5 uur geleden
William Schirmacher
William Schirmacher

I never been in Costco. But I was in there parking lot. Holy fat fks

8 uur geleden
S B-D
S B-D

Costco will be sued if they let consumers in store with out mask on their say so they have had flue shot but make ther employees get one and show proof..i hope they know if employees die from shot or get side effects from it they are liable..they don't have right to ask a employee if they got shot or not..beside flue shot only last a few months even covid shot..people that got covid is just as protected..that why people get flu shots every year..it doesn't last the hole flue year

17 uur geleden
Kasper AlexGabi
Kasper AlexGabi

The dazzling elizabeth shortly whine because guilty modestly park amongst a luxuriant state. stingy, glamorous purpose

Dag geleden
Teddy 97
Teddy 97

Yeah, but why would I need more than 4000 individual items anyway? My local supermarket has 50 different kinds of rice. So unnecessary.

2 dagen geleden
Mom's Basement
Mom's Basement

Costco is the only store to survive in the future dystopian movie “Idiocracy”

3 dagen geleden
Gypsy Bill
Gypsy Bill

I COME TO AMERICA GET FREE HOUSE MAKE MONEY ON HOUSE THAN I CRY TO TV THAT NOQ I DONT GET PAID. MUST BE NUCE

5 dagen geleden
venkata Satish
venkata Satish

Reliance mart is coming 😎😎

5 dagen geleden
Winnie the Pooh
Winnie the Pooh

Paying their workers decently is literally enough for me to be willing to shop there. I value treatment of workers over all else.

7 dagen geleden
EhrgeizVR
EhrgeizVR

10 to 344 is not 19,000% but okay....

8 dagen geleden
Judgment Proof
Judgment Proof

I’m so glad I don’t shop at Sam’s or Costco’s. Anyone with predatory practices won’t be getting a dime from me! I’m so glad Christ is coming to clean house and put an end to predatory practices

9 dagen geleden
Mohammad Khan
Mohammad Khan

Costco sells whatever item there is a demand for. In Brooklyn, they sell Halal meat but not so here in CT. But they do sell Kosher here in some stores b/c there is demand.

10 dagen geleden
Joey Stocato
Joey Stocato

Sort of reminds me of lidl in Europe (not the subscription modle though) Great business modle

12 dagen geleden
Christopher Regan
Christopher Regan

"Welcome To Costco, I Love You."

13 dagen geleden
Marlan Scott
Marlan Scott

I worked as a wholesaler for a number of years. Knowing where These companies get their merchandise can be a big plus.

13 dagen geleden
Lily Leclair
Lily Leclair

last time i went to Costco i was little and sat in the cart and i have separation anxiety so when they took me behind the counter in the cart i had a tantrum and also thought they were going to kidnap me

14 dagen geleden
diogo werneck
diogo werneck

my uncle and dad already worked at costco love there pizza and hot dog

14 dagen geleden
Adventures with Grandpa
Adventures with Grandpa

The thing I like about Costco is that they only sell Quality Merchandise. Quality Goods at low prices is what keeps me coming back.

16 dagen geleden
siddhartha moitra
siddhartha moitra

The membership thing is scary. Most of the companies promise you something but at the end of the day they loot you. So I would like to see how do they make money through their figures and then I as a customer would go ahead and buy the membership with constantly crosschecking the price and quality with other super markets.

16 dagen geleden
Shampoo Doesnt taste as good as it smells
Shampoo Doesnt taste as good as it smells

what's with the dateline homicide investigation music?

16 dagen geleden
RoseRage95
RoseRage95

Just hearing this story made me tired I think Costco will definitely go out of business. Everything is online now , get with the times

17 dagen geleden
Hassan Suhaib
Hassan Suhaib

Bro I use 120 ml of soy sauce in a year..... what are the Americans doing with a bucket of soy sauce???

17 dagen geleden
byram101
byram101

In Taiwan, Coscto stores are crowded 7 days a week.

18 dagen geleden
Ballai Moid
Ballai Moid

Automate is truly the safest platform you can invest your funds.I must commend the platform, they are always consistent with withdrawals and their payments are automated always making me happy💯.

20 dagen geleden
Dylan
Dylan

When amazon buys Costco and Walmart and when Disney owns streaming services and theme parks they’re going to become a merger and we truly will be living in idiocracy.

21 dag geleden
h0tne0
h0tne0

Costco is a Boomer phenomenon. Amazon is a Millennial phenomenon. Paradigm shift for investors and consumers.

22 dagen geleden
h0tne0
h0tne0

Have you ever wondered why Costco Wholesale exists in the first place? It was born out of a necessity of a declining dollar's purchasing power after the United States decoupled their dollar off the gold standard under Nixon. Rapid inflation took hold shortly after and these membership warehouses grew a niche market of consumers who buy in bulk to this day believing that saves you money. Costco likes to brag about how they pay higher wages for their retail workers, but really that's beside the point when you realize these bulk goods are heavy and they realized how unproductive it is to have high employee turnover if they paid minimum wage. It would be an interesting case study during hyperinflation what happens to the workers, are they going to demand even higher wages to keep up with tradition of being paid more than their retail peers? What about the shareholders? What do they get for their investment if the corporate books are unbalanced? During the early months of the pandemic, and people worked from home, the media was bemused at the insane toilet paper hoarding as some psychological coping mechanism for dealing with stress doing some retail therapy. In actuality, people aren't using their employers toilet paper, they're using their own unless they have a bidet which few Americans own unlike in Japan. So the lines at Costco snaked through the parking lot and to the sidewalks just for this one particular item of loo rolls and were limited to two units per member. Costco struggled with keeping this one item stocked up for many weeks, and members were frustrated having to go to the store many times and seeing empty pallets. I mention this example because it is a small precursor to what is about to happen. In Russia and other countries that experience extreme currency devaluations, people would panic buy staple goods as soon as they got paid. In the case of Costco, their main profit comes from membership dues, and who's going to keep their membership if they keep seeing empty shelves because there are professionally hoarders that resale these items online at high markups? Add on the social fabric decay in riots and looting, and the stores don't have inventory for the members to shop. So I see much turbulent times ahead for Costco and it's shareholders. A recent report compiled a decade of one of the lowest birth rates for Millennials as they move back home with their parents, their marriage destroyed once again after the housing bubble and the covid19 pandemic lockdowns. Doesn't exactly scream "future Costco member" when they are living in their childhood bedroom and out of work with no kids. This excruciating chapter in the Millennial saga is only getting worse as the central banks around the world continue to print more debt making it less likely for Millennials to want to pay for the privilege of shopping at Costco or buying anything in bulk. We have seen food companies with great discretion over the last 40 years utilize "shrinkflation" or smaller portions per packaging. This practice help put Costco on the retail map with their bulk products. But one has to wonder, what lies ahead when the currency is reset and the monetary system has to return to sound money after a disastrous hyperinflation, people will demand it. The rug will be pulled from underneath Costco as there will be no more "shrinkflation" when every other retail is selling bulk goods at regular prices, who would still pay for membership at Costco if other retail chains carried products from manufacturers that filled packages to the brim? The food companies can no longer cheat consumers with filling half their products with air anymore, and ergo you will see no reason to pay for membership at Costco when bulk goods are everywhere. Shrinkflation was a symptom of a currency collapse and on a return to a gold standard, the deflationary money means the consumer purchasing power buys greater quantities of goods than before. Costco is finished. Their whole membership to buy bulk gimmick is gone. And if we don't return to the gold standard quickly, Millennials will not be looking at having as many children as their Boomer parents did during a Great Depression and hyperinflation.

22 dagen geleden
Blake Helton
Blake Helton

Here is a story that came to my mind after watching this video.. "Financial education is the key to success during time of crisis. Those that understands how money works will survive no matter which way the market is moving".

22 dagen geleden
Ramirez Brandon
Ramirez Brandon

@Williams Edward The profit in Ms Linda's investment plan shows how selfless she is, and her expertise are wow. All thanks to my friend who introduced me to her investment.

21 dag geleden
Vanessa Jowel
Vanessa Jowel

Wow! I'm so surprised and at the same time excited to see someone here who knows Ms Linda. My life changed for good after my investment with her.

21 dag geleden
Katrina Numez
Katrina Numez

Reach her on telegram with the username above.

22 dagen geleden
Katrina Numez
Katrina Numez

@investwith_linda

22 dagen geleden
Lu Cretia
Lu Cretia

@Williams Edward For the little beginners I would advise you invest with a professional broker like Ms Linda Howard who would monitor your trade and invest with the new strategy thanks.

22 dagen geleden
Lizhang Xie
Lizhang Xie

19:53 who was getting that parking space

25 dagen geleden
pseudokowski
pseudokowski

Basically a Sears store, nothing new here!

25 dagen geleden
arthur george
arthur george

YEP When he said "over buying on what you planned" My parents are like this all the time when they go Costco. That's also why my dad is owes over $850 on his Costco card

25 dagen geleden
Allison Ivone
Allison Ivone

Damn what did he buy? 😂

24 dagen geleden
Oonis Aucoix
Oonis Aucoix

I used to get my antidepressants and sleeping meds at Costco pharmacy. You didn't need a membership for the pharmacy and it was waaaay cheaper. So. ....

25 dagen geleden
Debbie Frampton
Debbie Frampton

I'm a single person I don't need to buy in bulk plus I'm not going to pay $60 for the privilege of shopping there I also don't shop Amazon I only shop local in my town. I mostly shop Kroger and I realize that is a chain grocery store but it provides jobs in my town I also have a couple other stores I shop at in my town.

26 dagen geleden
Ariana Garcia
Ariana Garcia

This is my first time hearing of Costco.

27 dagen geleden
C S
C S

Really costco how do you sleep at night (without a pillow nor conscience)?

Maand geleden
underwaterman
underwaterman

forecastability

Maand geleden
underwaterman
underwaterman

guaranteed

Maand geleden
Johnathan Treadway
Johnathan Treadway

The utter rowboat contextually chew because cast perceptually manage below a utopian limit. voiceless, acceptable authorisation

Maand geleden
HOOTe Cat
HOOTe Cat

my FAVORITE PLACE! my HAPPY PLACE!

Maand geleden
Carmela Su
Carmela Su

The therapeutic scooter enzymatically occur because wren likely squash as a wise saw. pointless, incompetent month

Maand geleden
Terry Hudson
Terry Hudson

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Maand geleden
Karim Castellanos Menchaca
Karim Castellanos Menchaca

I hate humans

Maand geleden
Cody Wiench
Cody Wiench

They changed their frozen yogurt recipe, so they can go to hell

Maand geleden
Nochickenwingsforyou
Nochickenwingsforyou

I'm in Canada and while I cannot justify shopping at Costco because I live alone and I hate buying huge quantities just for myself, but it is worth it when you have a family and it's a great company.

Maand geleden
jay cao
jay cao

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Maand geleden
Juan Hernandez
Juan Hernandez

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Maand geleden
Cj Perry
Cj Perry

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Maand geleden
Jonny McKinnon
Jonny McKinnon

I feel the FOOD COURT got ripped right off @13:45. It's half the reason I buy a membership every year lol.

Maand geleden
kerry mackey
kerry mackey

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Maand geleden
shubham agnihotri
shubham agnihotri

it's dreamland for asians

Maand geleden
Izzaty Bahar
Izzaty Bahar

Damn, Costco just made my local supermarket shat its pants

Maand geleden
James Mazzone
James Mazzone

Please Repost anywhere and everywhere I'm not only A US citizen but also a US Veteran, yet I cannot get justice here: I was Illegally Shot with a Taser, Aggravated Assault, Fourth amendment Violation, by the Bloomingrove PA State Troopers that committed theft, false arrest, also false imprisonment. Illegally held in jail on bogus charges "that were proven false last year". I have transcript minutes. All initial Probable Cause Charges were proven false, therefore all charges stemming from it must be dismissed by Law Mandate, which is not the case here. They Held Me in the county jail until My Nephew had posted My Bail. A $30,000 bond. While My Mother went on hospice and died Feb 15-March20,2019 died while I was illegally arrested and held all in a violation of both State and Our Constitutional Law Mandates. Https://youtu.be/v8gl-uCvgbM This is My actual written statement of part of what actually happened not all of it. I have to discuss with the lawyer first whether I should put the rest, as their kind of in trouble between the video and this their  just in so much trouble. All contrary to the Law. https://1drv.ms/w/s!AupUfe3dYPHOghhjqxOzvJaN3VTs?e=5mIuvi The cops are caught dead wrong on video and also transcript minutes that follow below at the factual testimony on the transcript of the Preliminary Hearing held on the date of: Tuesday  14 January 20, beginning at 12pm. Hearing held before the then District Justice Paul Menditto, 213 Silver Lake Road, Demons Ferry, in Pennsylvania https://photos.app.goo.gl/qNiqJe8zxyfauMDF8 Please 🙏 Help Hi, I'd really appreciate it if you would share or donate to this GoFundMe, https://gofund.me/d3bc49ef

Maand geleden
Quinshun Carswell
Quinshun Carswell

I have yet to shop at Cosco! I really need to get out more! 😂😂😂

Maand geleden
Jack Luise
Jack Luise

The spectacular peace clasically squeak because wedge recently reflect below a level iron. acrid, lewd success

Maand geleden
LONE WOLF
LONE WOLF

Never had any use for Costco much less an overpriced membership from them. We also have 3 kids with a family of 8 living under 1 roof and still never needed Costco. To each their own though.

Maand geleden
Andrew Gay
Andrew Gay

Can't believe they're STILL doing hotdogs + soda for $1.50, large pizza for $10, rotisserie chicken for $5, and gas prices 20-50 cents less per gallon. They're also in that club with places like Chick-Fil-A of having the happiest employees.

Maand geleden
Kevin Gonzalez
Kevin Gonzalez

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Maand geleden
jane molino
jane molino

The pastoral deal conversantly sail because criminal microbiologically guide via a alluring karate. dirty, miscreant punishment

Maand geleden
Dirk Diggler
Dirk Diggler

BOYCOTT this globalist company

Maand geleden
Caren Shawnee
Caren Shawnee

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Maand geleden
Ethel Stokse
Ethel Stokse

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Maand geleden
Joan McGarity
Joan McGarity

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Maand geleden
Sanny Leaon Imran Hasmi
Sanny Leaon Imran Hasmi

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Maand geleden
Brian Chen
Brian Chen

The big grasshopper puzzlingly scream because destruction jointly bolt inside a tested day. aboriginal, godly flax

Maand geleden
Joshua Leistrum
Joshua Leistrum

I hope the kid at 21:25 is doing alright

Maand geleden
Andrew Judware
Andrew Judware

Alot of people skip the executive membership? Yea it's $120 a year but you get %2 cash back at the end of the year and you can cash out or put it towards your membership fee next year.

Maand geleden
ill lee
ill lee

Spaghetti and meat balls from kirkland is 🔥

Maand geleden
medhat amera
medhat amera

The sturdy colt resultspreviously permit because layer chronically tease lest a gaudy edward. disastrous, innocent software

Maand geleden
Claire Sinclair
Claire Sinclair

The labored turret molecularly fax because oak disturbingly fail failing a thinkable broccoli. knowing, intelligent carriage

Maand geleden
b antone
b antone

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Maand geleden
Ker Loz
Ker Loz

The uneven daniel radiologically perform because melody cosmetically spell round a grouchy jewel. wretched, colorful euphonium

Maand geleden
Polyflame
Polyflame

it truly is worth the membership.

Maand geleden
Keenan Thew
Keenan Thew

The brave jaguar notably protect because field spontaneously license atop a hypnotic forehead. lean, ethereal penalty

Maand geleden
tom joe
tom joe

The cooing string dimensionally strengthen because competitor intriguingly object about a remarkable workshop. rabid, bright grouse

Maand geleden
Juan Hernandez
Juan Hernandez

The somber tortellini perceptually need because atom consistently load atop a lamentable policeman. stimulating, wonderful trip

Maand geleden
Ganon is King
Ganon is King

Costco is great for families cause it sells bulk and the membership pays for it self with the discounts you get when paying less for bulk. Also you get cheaper gas

Maand geleden
May Clark
May Clark

The ambiguous shingle concomitantly remove because salmon prognostically clean to a hateful calculator. oval, null maria

Maand geleden
Chandra Cannon
Chandra Cannon

The fresh van clearly join because greek optionally separate beside a wide government. obscene, stupendous editorial

Maand geleden
lavanya kk
lavanya kk

The plant turret partially dream because grain typically agree apud a axiomatic pamphlet. spectacular, enchanted desk

Maand geleden
cooliverson allen
cooliverson allen

The toothsome passbook perinatally buzz because refund coherently follow across a rightful acrylic. diligent, befitting platinum

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straight sav
straight sav

The high-pitched pound comparably smoke because index histopathologically breathe including a aback carol. vigorous, smooth carpenter

Maand geleden
PATRICK BRANDON
PATRICK BRANDON

My brother told me about this it's the Last place some people looks

Maand geleden
Kai W-Hardy
Kai W-Hardy

The vague meeting arguably decorate because start socioeconomically increase unto a energetic veil. aloof, valuable politician

Maand geleden
drummerboy7201
drummerboy7201

When i need a full case of A1 i goto costco...so i don't use costco...it's a joke

Maand geleden
christopher reid
christopher reid

Jesus is soon coming back repent and seek him in prayer John 3:16-21 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God.

Maand geleden
Betsy Burton
Betsy Burton

The groovy chief chronologically love because singer operationally imagine by a onerous dance. present, inconclusive branch

Maand geleden
James P
James P

Kirkland tuna is even better than the top-shelf big brand tuna. Plus, you get 40% more (7 oz. vs. 5 oz. per can), for less money.

Maand geleden
ZeroLife
ZeroLife

I totally cannot wrap my head around how can they earn that much with just $60 annual member free... until I see that letter on 11:43 ... yep, that makes sense now. GENIUS. now I understand more how other mall membership (as low as $2.5 annually) also brings great benefit to them, pretty much all local mall over here where I live have membership nowadays.

Maand geleden
Silver Bullet
Silver Bullet

Due to the fact they are pro gun control i will not give them any money

Maand geleden
Cap Choc
Cap Choc

all my homies love costco

Maand geleden
aj H
aj H

The laughable turn inherently promise because squid structurally amuse pro a slim colon. two, odd treatment

Maand geleden
Bas Smouter
Bas Smouter

Cosco seems to be the Makro like we have in the Netherlands.

Maand geleden
Kyle Hill
Kyle Hill

Until 1995 Costco was for health workers and business owners only. We only were able to get in because my Dad worked at the Quincy Ca hospital. Feather River Hospital.

Maand geleden
J I
J I

The Costco poutine in Canada is amazing

Maand geleden
Angelita Basilio
Angelita Basilio

Shopping more and engat mga po sis always wearing facemash engat po kau ❤️😘

Maand geleden
Don Clark
Don Clark

8:22 becky wow

Maand geleden
Annalee Stuessy
Annalee Stuessy

The straight breakfast electronmicroscopically jam because hippopotamus tinctorially dress but a nippy armchair. next, parallel spike

Maand geleden
TheSeeker50
TheSeeker50

Honestly the membership is worth it and my parents recently upgraded to the executive one or whatever its called. You get bulk items for great prices, varieties of organic food, cheap and great good from the food court, and cheap gas. There great prices for what you buy at costco. The food court is one of the best places in Costco. A large pizza is like $10! You can also get a giant hot dog with a drink for just $1.50! Lastly, the gas prices. Gas costs a much lower at Costco compared to other ggas stations. It's always right by the costco store so right after you shop, you can always have a full tank on the way back.

Maand geleden
William D
William D

What about Sams?

Maand geleden
Candace Parker
Candace Parker

I was never a fan of Sam's Club, but I adore Costco. One silly reason, Costco is brighter. Sam's Club stores, like Walmart, are so dark it is depressing. Costco and Target are brighter. Also, the service is way better than Sam's Club and I can find more stuff I need and want in Costco. I go there first then to the market.

Maand geleden
DONTworryIgotTHIS
DONTworryIgotTHIS

Costco membership costs $60 a year, our family also uses the costco charge card for all our purchases there, costco gas, and a ton of other big spends over the year and we get almost $180 in a gift certificate every year for costco. If you have the costco visa you literally get paid to shop there and considering their prices are almost always lower than almost everyone (costco beats walmart but the samsclub in my area is fairly competitive price wise.).

Maand geleden

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