Latest news with #PriceClub
Miami Herald
24-06-2025
- Business
- Miami Herald
Costco makes a bold move to compete with Amazon
Costco (COST) has built a wildly successful business on two highly appealing concepts: saving money by buying in bulk, and gaining access to exclusive deals via a membership. When Costco first opened its doors as a retailer called Price Club in 1976, serving only small businesses, it hadn't hit on its winning formula yet - but it had the seed. Don't miss the move: Subscribe to TheStreet's free daily newsletter By 1983, the picture had filled in, and the first Costco warehouse opened to the public in Seattle in 1983. A decade later, it merged with Price Club, creating the retail behemoth many of us know and love today. Amazon perhaps took a page from Costco's playbook with the idea of a membership that made things cheaper and easier for subscribers, but in an exclusively online format. Related: Walmart delivers Amazon some really bad news When Amazon Prime launched in 2005 for an annual fee of $79, free two-day shipping seemed like a great perk - but maybe not one worth paying for. But as the retailer continued to offer faster and faster shipping options, it created a new kind of craving in consumers that changed the entire retail industry. Now it's Costco's turn to take a page from the Amazon playbook, which it's already done to some degree - but now it's taking it one step further. While there's no doubt that going to Costco will save you some money, the warehouses are often crowded and challenging to navigate, especially on weekends. More Retail: Huge retail chain suddenly closing hundreds of storesMajor retailer scores huge benefit from Joann bankruptcyHome Depot, Target, Ulta and more strike back at retail crime For customers who want to avoid this, Costco provides the same-day section on its website, which offers same-day delivery on thousands of items in partnership with Instacart. Customers can also use this option for curbside pickups, a service Costco started to offer in 2021. Now the retailer is taking convenience one step further for customers in need of speedy delivery. The new Priority Delivery option, which is coming soon, allows certain items to be ordered and delivered within 30 minutes, Related: Costco makes rare mistake with its bold new idea Another new addition is No-Rush Delivery, which allows members to schedule orders hours or days ahead of time. Both services can be accessed via Costco is also running a summer promotion where members who use the same-day service can get $15 when they spend $50 or more using the code SUMMERSAMEDAY25. Amazon is clearly still the current leader in fast delivery options. Its Prime Now service, once a standalone site and app that was merged into the main app back in 2021, was first to offer deliveries on select items in less than an hour. Now other retailers have taken the hint that customers love getting things fast. Costco launched its same-day services back in 2017 in partnership with Instacart, which will be helping the retailer in making the Priority and No-Rush delivery options a reality. However, Costco has one asset in this situation that Amazon does not: brand devotion. People love Costco, from its low prices to its reputation for treating its employees well. That devotion keeps people paying for annual memberships year after year, despite the fact that in 2024, they increased in price. On the other hand, you rarely meet a person who gushes about how much they love Amazon. Sure, many of us turn to it if we need something fast. But Amazon's known for prioritizing profit over employee well-being and has been called out in the past for unsafe working conditions - not exactly admirable qualities. So while Costco may not be in the lead just yet when it comes to the race for faster delivery, this newest move could absolutely help draw more customers towards it - and away from Amazon. Related: Costco lawsuit unveils major issue with warehouse club stores The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
14-06-2025
- Business
- Yahoo
Costco Announces Important Change for Certain Members Starting June 30
Costco is continuously switching things up to stay competitive in warehouse club and wholesale space. Costco opened 1976 under the Price Club name, and in 1983, the first Costco warehouse location opened in Seattle. They even became the first company ever to grow from zero to $3 billion in sales in less than six years. Now, Costco has announced a new perk for select members. The warehouse club has announced that the company will start allowing executive members in the U.S. in their higher-priced membership tier to shop an hour earlier than standard members beginning June 30, according to an email to employees reported by Business Insider. "Our Executive Members are our most loyal members, and we want to reward them for their commitment to Costco," the email stated. Also in that email, Costco said that executive members would start getting a $10 monthly credit for Instacart orders and $150 worth of additional benefits and savings on Costco services. Business Insider reached out to Costco on the matter but didn't receive an immediate response. This isn't the first time Costco has given some perks to executive members. The select group was previously offered extended shopping hours at certain Costco locations, but the perk was phased out, according to Costco Insider. Adding perks such as early entry for Costco members on the executive tier could make it a more attractive option for those who are on the standard level. Costco has also started testing earlier hours at its gas stations for all members and stated during its May earnings call that it's had a good impact on sales. "Costco warehouses carry about 4,000 SKUs (stock keeping units) compared to the 30,000 found at most supermarkets," Costco says on its website. "By carefully choosing products based on quality, price, brand and features, the company can offer the best value to members."Costco Announces Important Change for Certain Members Starting June 30 first appeared on Men's Journal on Jun 10, 2025
Yahoo
19-05-2025
- Business
- Yahoo
Costco Announces It Will Close All U.S. Stores on May 26
Costco has become one of the biggest names in the membership-only warehouse club store business. The chain first opened under the name Price Club on Morena Boulevard in San Diego in 1976, and today, there are more than 600 Costco stores across the U.S. While the chain has stores throughout the country, the state with the biggest number of Costco locations in the U.S. is California, with 142 stores, according to ScrapeHero, which is about 23% of all Costco stores in the U.S. Those hoping to hit up Costco on a particular day off in May will have to make other plans, because the company has confirmed that it will close all of its locations on one day in May. Costco has announced that it will close all of its U.S. stores for the entire day on Memorial Day, which takes place on May 26 this year. This announcement is in line with Costco's tradition of closing all stores on major holidays, such as Labor Day, Thanksgiving and Christmas. So, those hoping to rush to Costco on Memorial Day for some last-minute supplies for a barbecue or get-together should make plans to go there earlier in the holiday weekend. "Memorial Day honors the sacrifice and loss of those who served and died in the military," according to the Wounded Warrior Project. "Veterans Day honors all who have served in the U.S. military. "Memorial Day, a federal holiday held the last Monday in May, is the nation's foremost annual day to mourn and honor its deceased service men and women," adds the National Cemetery Administration. Costco is a "membership warehouse club, dedicated to bringing our members the best possible prices on quality brand-name merchandise. With hundreds of locations worldwide, Costco provides a wide selection of merchandise, plus the convenience of specialty departments and exclusive member services, all designed to make your shopping experience a pleasurable one," according to the company.
Miami Herald
08-05-2025
- Business
- Miami Herald
The secret way some Costco shoppers are getting the best deals
When I moved to Indianapolis in 1994, one of the first things I looked for was a Costco. Having moved from California, where Costco runs were part of my routine, I was shocked to learn there wasn't one. Where was I going to buy my dog food, laundry detergent, and dark roast coffee in bulk? Winco just wasn't the same (sorry, Winco). In fact, Costco didn't make it to Indiana until 2002, years after I'd left. First thing I did when I moved back west? Renew my Costco membership. These days, there is a Costco in almost every state (Rhode Island, West Virginia and Wyoming are still waiting), and plenty of cities have multiple locations. The company has been expanding at breakneck speed, and is now the third-largest retailer in the world. Don't miss the move: Subscribe to TheStreet's free daily newsletter The company's growth can be traced in part to its mission: "Our operating philosophy has been simple. Keep costs down and pass the savings on to our members. Our large membership base and tremendous buying power, combined with our never-ending quest for efficiency, result in the best possible prices for our members," per the company's website. People, including me, love Costco (COST) , and they're not afraid to brag about the good deals they find in the store's aisles. When David and Susan Schwartz decided to write a book about Costco, they visited more than 200 locations and learned just about everything there is to know about the mega retailer. Their seven years (!) of Costco research turned up a treasure trove of slang used by both employees and shoppers. Related: Costco answers a common customer question Among the most common terms, according to the authors: Go-Backs. Any item that a shopper brings to the check-out area but then decides not to buy and leaves at the cashier or self-checkout area is called a "go-back" because it has to be returned to its designated part of the store. The Fence. You know how when you first walk into any Costco, there's an area up front surrounded by a chain-link fence? It's where special promotional items, including some seasonal items, are stacked. According to the Schwartzes, the fence is a remnant from Price Club in San Diego, the company's first location. The store had a chain-link fence at the entrance, and when Price Club and Costco merged, the leadership team decided it was too expensive to remove it and left it in place to use for merchandising. Now, all Costco locations have the same feature at the entrance. The Death Star. If you look closely at some product signs, you will notice a small asterisk in the upper right-hand corner. The symbol means the product is about to be discontinued. The product might be gone temporarily, or it might be 86ed forever, so if you like it, stock up. Showtime Ready. Some Costco employees' shifts begin at 4 a.m. This first shift arrives to make sure the store is ready for customers. "Showtime Ready" time at Costco may also be an opportunity for early birds. Costco warehouses typically open a bit later in the morning than other big-box retailers like Target and Walmart. Some locations open at 9 a.m. on weekdays, but most open at 10; weekend hours also vary by location. If you're a Costco shopper, you probably know exactly when the ideal time is to head to the warehouse. For me, it's 6 p.m. or later Monday through Friday, and never, ever will I set foot in the store on a weekend. Related: Costco's craft brewery collab is the best deal around But some stores actually welcome customers into the store at least 15 minutes before the official opening. If the store is indeed "showtime ready" - meaning the shelves are full, the aisles are clear of pallets and cardboard boxes, and the food sampling stations have been set up - you might discover you can walk in as soon as they roll up the doors, ahead of the posted store hours. Getting in early makes it more likely you'll be able to find that Kirkland Signature Toilet Paper or carton of eggs before they sell out - at the best prices, of course. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
