The retailer announced in July that membership fees would increase by $5 to $65 a year in the US.
Costco bargain hunters are going to have to pay an additional $5 to $10 annually as the popular warehouse chain prepares to raise its membership fees for the first time in seven years. announced in July that membership fees would increase by $5 to $65 a year in the US and Canada for three of its plans: “Gold Star,” “Business” and “Business Add-On.” The changes started for new members signing up on or after September 1 and renewals occurring after that date.
Annual fees have been one of the biggest profit-generating areas for Costco, helping it offset expenses to keep its prices down. Last year, Costco earned $4.6 billion in revenue from membership fees, an 8% increase from 2022.Costco is cracking down on membership moochers by implementing stricter policies and requiring shoppers to scan their membership cards to enter stores.“Over the coming months, membership scanning devices will be used at the entrance door of your local warehouse,” .
Costco’s new rule also requires all guests to be accompanied by a valid cardholder to enter its stores, making it more difficult for non-members to sneak in using cards that don’t belong to them.
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