Costco's Membership Price Hike: The First Increase in 7 Years
Costco's Membership Fees Surge
Costco has implemented its first membership price hike in seven years, with annual fees now set at $65 for the ‘Gold Star’, ‘Business’, and ‘Business Add-On’ memberships. The Executive Membership has also seen a rise, now costing $130 annually, while enabling members to earn $1,250 in rewards, up from the previous limit of $1,000.
Impact on Memberships
- Approximately 52 million memberships will be affected by this price increase.
- Over half of these memberships are Executive plans.
- Previous year revenue from membership fees totaled $4.6 billion, an 8% increase from 2022.
New Membership Policies
Alongside the fee increase, Costco is implementing stricter membership policies to combat usage by non-subscribers. Starting soon, membership scanning devices will be required at store entrances, ensuring that only valid cardholders and their guests are allowed entry.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.