Latest news with #CostcoNext
Miami Herald
18-05-2025
- Business
- Miami Herald
Costco quietly makes payment change members will love
Costco never adapts new technology quickly. The warehouse club lets its rivals be the innovators that push boundaries. Then, once a technology has been proven out, Costco (COST) consider whether it makes sense to add it. Related: Another sporting goods chain closing all locations, no bankruptcy It's a slow and steady approach that allows the company to embrace change without having to spend money on losing ventures. By the time Costco adds something new its value has been proven out elsewhere. That's why the chain was slow to offer direct sales on its website and why it still does not use robots or other gimmicks in its warehouses. If a technology has not become mainstream, it's very unlikely that Costco will use it. Innovation comes slowly for the membership-based warehouse club, but it does happen. That includes some recent changes that benefit members. Don't miss the move: Subscribe to TheStreet's free daily newsletter "We continue to make progress with our technology road map. The new warehouse tool in our app, which allows members to view local warehouse item availability and prices had over 43 million visits," CFO Gary Millerchip shared during the chain's second quarter earnings call. Image source: VIEWpress/Getty Images While Costco takes a slow and steady approach to digital transformation, it has been working to improve the overall customer experience. "We still have a lot of work to do in this area and are excited about the potential to improve the member experience through more relevant targeted messages and experiences," he added. The chain also recently gave members a new payment option. Costco has added Affirm as a pay-over-time option for some purchases. "Split large purchases into smaller payments Choose a monthly payment option from Affirm for your online orders of $500 or more," the warehouse club shared on its website. More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersKellogg sounds alarm on unexpected shift in customer behavior Affirm allows users to pick their payment terms and how much interest they end up paying. It's a simple technology that many other retailers and travel service providers have already adopted. Costco does not have to explain how Affirm works to most members because they have already seen it (and maybe used it) elsewhere. The warehouse club shared the steps to use Affirm on its website: Add $500 or more of eligible products to your cartSelect Affirm as your payment method at checkout on a few pieces of information for an real-time decision. This won't affect your a payment plan: Pay in 3-36 monthly payments. Rates are between 10-36% APR. Millerchip also spoke about two other changes Costco made that its members will like. "And Costco Next, our curated marketplace also had record holiday sales. We are now approaching 100 vendor sites and significantly grew average order value in the quarter," he shared. The chain also made a change that directly impacts its members' bottom line. "Last quarter, we increased the reward on gas purchases at Costco locations to 5%," he added. Those changes have helped Costco continue to grow its sales. "Turning now to our February sales results for the four weeks ended this past Sunday, March 2nd, compared to the same four retail calendar weeks last year. Net sales for the month of February came in at $19.81 billion, an increase of 8.8% from $18.21 billion last year," Millerchip shared. Related: Walmart CEO has a harsh warning for customers The chain excelled at pretty much every metric it shared, except for international sales. "Comparable sales for the month were as follows: U.S. comparable sales were up 8.6%, both with and without gas deflation. Canada comp sales were up 3.2% or 8.7% adjusted for gas deflation and FX. Other international comp sales were down 0.6% or up 6.5% adjusted," he added. "This resulted in total company comp sales of 6.5% or 8.3% adjusted for gas deflation and FX." The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
15-03-2025
- Business
- Yahoo
How To Get the Most Value From Your Costco Membership in 2025
Do you have a Costco membership? If so, you're probably well aware of the bulk prices. But are you taking advantage of all your membership's benefits? If not, you should be. Read More: Find Out: Here's how to get the most out of your Costco membership in 2025. You can save money by shopping online via Costco Direct. You can get instant savings on everyday items, many of which are already marked down. Some big-ticket items — like patio furniture, appliances and electronics — have surprisingly high markdowns. Some items are as much as $400 off. As a Costco member, you can redeem discounts from tagged products twice. Costco Next offers exclusive discounts on online products. Know that you aren't buying directly from Costco, but rather from a third-party supplier. Still, you can get some Costco prices on sporting equipment, apparel, skincare products and so much more. As a Costco member, you could benefit from the warehouse club's Prescription Program. You could save up to 80% on select medications. You can also compare medication prices to ensure you're getting the best deal. Discover Next: Costco members can get discounts on eyewear through Costco Optical, even if you don't have vision insurance. This is the case for contact lenses, prescription glasses and nonprescription glasses. Costco also accepts most major vision insurance plans. As part of its focus on health and wellness, Costco also offers free hearing tests, free follow-up appointments, and free hearing aid cleanings and checkups. You can also get free loss and damage coverage on certain hearing-related devices. As for the devices themselves, Kirkland Signature brand hearing aids are potentially cheaper than other name-brand options. Do you have auto and home insurance? If you use your Costco membership, you could potentially get a better rate, especially if you bundle multiple vehicles on one policy. For frequent travelers, Costco Travel is another great way to maximize that membership. You can shop around for the best prices on hotels, planes, cruises, rental cars and vacation packages. You'll need to reside in the United States, though. According to The Krazy Coupon Lady, Costco's gasoline prices are about $0.11 cheaper per gallon than other leading brands. That might not seem like much, but if you live nearby and are filling up anyway, why not save? You probably know that Costco sells gift cards, but did you know you could actually save money by purchasing gift cards from the warehouse club? For example, a gift card to Spafinder valued at $100 costs just $79.99 at Costco. A four-pack of Domino's gift cards valued at $25 each (or $100 total) also costs $79.99. As an Executive or Gold Star member, you can get additional benefits. For example, the Executive card comes with a 2% reward on eligible Costco travel and regular purchases (up to $1,250 annually). With the Costco Anywhere Visa® Card, you can also earn cash back: Up to 5% on Costco gas 4% on other gas and EV charging 3% on restaurants and eligible travel 2% on all other Costco purchases 1% on all other purchases More From GOBankingRatesHow Paychecks Would Look in Each State If Trump Dropped Federal Income Tax10 Cars That Outlast the Average Vehicle This article originally appeared on How To Get the Most Value From Your Costco Membership in 2025
