Supposedly, Costco is not thinking about raising the fees of the annual membership, for now. But everything indicates that the company is thinking about increasing it in the near future. When will it be? Well, we’ll tell you everything we know so far. As you may know, to shop at Costco you need a membership that is paid annually, a system that guarantees the company to be able to offer very low prices with which, hardly, other companies can compete. If you are a Costco shopper, you will know that they offer products of large stock of qualities, but always good quality. No junk or trinkets.
And Costco shoppers are usually quite comfortable with the values they pay annually for their membership cards, without many complaints about it so far. But if fees go up, will that change? Would you so easily and without protest accept a sharp increase in your Costco membership? That remains to be seen.
When Will the Costco Memberships Be Raised
During a call with investors last week, Costco CFO Richard Galanti reiterated that there may be an increase soon, precisely for the Gold Star membership. But also said that “it’s a question of when, not if.” That translates into this: it will happen, don’t doubt about it, but they haven’t decided when will it happen.
An increase in Costco membership would be a risky step for the retailer, but it would not be the first time it has done so, especially given the moment of inflation that the United States is in. The last time that complex decision was made was in 2017, and before that it had happened five years before. That is why it has been speculated that, by 2023, the fee will be elevated again.
We are waiting for Costco to announce when this increase will happen, but Galanti said: “If we have to wait a few months or several months, that’s fine.” Costco CEO Craig Jelinek also said something similar. “It’s not the time to do it,” he said.
Why to Have a Cosco Membership and What You Can Do With It
One of the biggest advantages is the potential for significant savings. Not any regular savings, but big, gigantic savings you won’t find anywhere but Costco. Its bulk purchasing system allows them to offer lower prices than traditional retail stores, making it an excellent option for families looking to save money on groceries, household essentials, and more.
In addition, Costco offers a wide selection of high-quality products, including organic, vegan and gluten-free options at invincible prices, which can be difficult to find at other retailers. They also have a robust selection of electronics, appliances, and other big-ticket items at competitive prices.
Another nice thing of being a Costco member is the customer service. Costco is known for its splendid return policy, which allows members to return items at any time, for any reason. Literally, any reason. That clearly says that Costco trust in what they sale. Finally, Costco offers additional benefits such as discounted travel packages, insurance, and even auto buying services. There’s no doubt that a Costco membership is a good deal for you.