Today Costco Raises Membership Fees: Key Insights and Impacts
Today Costco Raises Membership Fees
Today, Costco raised its membership fees for the first time since 2017. The annual fee for U.S. and Canadian Gold Star individual members, as well as Business members, has increased by $5, now totaling $65. Executive Memberships also saw a hike of $10, bringing their cost to $130.
Impact on Membership
- This increase affects approximately 52 million memberships worldwide.
- Over 50% of these are Executive members.
In July 2022, CEO Craig Jelinek stated that fees were on hold due to inflation concerns. However, the new CFO suggested that fee adjustments were forthcoming. While membership costs are going up, the iconic hot dog-and-soda combo’s price will remain unchanged at $1.50.
Costco's Global Presence
- Costco operates 882 warehouses globally.
- There are 609 locations in the U.S. and Puerto Rico, and 108 in Canada.
- Other countries include Mexico, Japan, the UK, and more.
Changes in membership fees reflect Costco's strategy to continue thriving in a competitive retail landscape today.
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.