Costco Membership Cost Experiences First Price Increase in Years
Overview of Costco Membership Cost Changes
Costco members in the US and Canada are now facing a higher membership cost as the company has implemented its first membership price hike in seven years. Starting September 1, 2023, the annual fee has increased by $5, raising it to $65 for most plans. Among the affected plans are the Gold Star, Business, and Business Add-On.
Impact of Membership Fee Increase
- Executive Membership fees have also escalated by $10, now priced at $130 annually.
- Members can now earn a maximum of $1,250 in rewards annually compared to $1,000 previously.
- Approximately 52 million memberships will feel the impact of this price change.
Costco's Strategy on Membership Control
In conjunction with the membership fee increase, Costco is intensifying measures to ensure that membership cards are strictly adhered to. Stricter policies will help maintain the integrity of memberships and prevent non-members from accessing store facilities. Members will be required to scan their membership cards at entry points, with photo identification being necessary for those without a photo on their card.
This shift in the Costco membership cost not only symbolizes a financial adjustment but also reflects Costco's broader strategy to prioritize genuine members in its retail environment.
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.