Yahoo Finance recently named Costco the Company of the year for 2022.
When inflation hit the fan they did what they could to keep prices low and to help millions of people stretch their money a little further. We might also never see them raise the price of the famous hot dogs that they've become known for. They are known for trying to help consumers find a deal and they have one of the best reputations in the industry today.
There are not many businesses who take that stance on trying to keep things priced low, regardless of inflation, no matter what the product might be.
Costco has been regarded as one of the best companies to work for as well, it isn't just a favorite with millions of shoppers around the US and elsewhere.
Earlier this year it was seen that the company had tens of millions of members, it isn't surprising that many might go looking to sign up if they are looking to buy in bulk and find more of a deal.
The average shopper is spending over $100 on their trip and will purchase several items often in one go with one trip often being considered worth it for the membership fee. Food is one of the main things people are going in for.
Why do people like going to Costco so much?
Of course that answer is going to fluctuate depending on who you ask. Some have said that they prefer shopping at this location because of the friendly employees, or the prices, it might be because of the bulk options, product selection, maybe the free samples, holiday specials, or even because of the return policy.
To date there are a variety of Costco warehouses to be found in the US, Canada, Mexico, Japan, UK, and other regions. It isn't surprising to see that Costco would see even more demand as inflation increases and erodes the standard of living by making the cost to get by more expensive for millions. where possible.
pics:
pixabay
This is not financial advice
Sources:
https://fortune.com/2022/06/09/costco-possible-membership-price-increase/
https://www.cnbc.com/2022/09/23/costco-maintains-membership-fees-after-earnings-beat-expectations.html
https://www.bloomberg.com/news/articles/2022-09-22/costco-holds-off-on-membership-fee-hikes-amid-record-renewals
https://www.cnbc.com/2019/05/22/hooked-how-costco-turns-customers-into-fanatics.html
https://www.statista.com/statistics/284431/number-of-costco-warehouses-2013-by-country/
https://www.businessinsider.com/costco-shopping-around-world-photos-2019-11
https://ca.finance.yahoo.com/news/shoppers-buy-most-costco-180001688.html