Costco is more than just a warehouse store; it’s a cultural phenomenon that has captured the hearts of shoppers around the globe.
With its distinctive membership model and vast selection of products, Costco offers a unique shopping experience that goes beyond mere convenience.
From its legendary food court to its surprising product offerings, there’s much to uncover about this retail giant.
In this article, we’ll delve into some of the most interesting and lesser-known facts about Costco, exploring what makes it a beloved destination for millions and how its innovative approach continues to reshape the retail landscape.
Is Costco owned by Walmart?
Costco is not owned by Walmart.
Costco operates independently as a membership-only warehouse club, while Walmart is a separate retail corporation.
Costco is primarily owned by institutional investors, with no significant ownership stake from Walmart.
In fact, Walmart attempted to merge with Price Club, which later merged with Costco, but that deal did not materialize.
Costco’s business model and operational strategies differ significantly from Walmart’s traditional retail approach.
Can you shop in Costco without being a member?
Yes, you can shop at Costco without being a member, but there are limitations.
One way to do this is by shopping online. Non-members can purchase select items through the Costco website, although they will incur a 5% surcharge compared to member prices.
Another option is to use a Costco Shop Card, which is essentially a gift card that members can purchase for you. This allows you to shop in-store without needing a membership.
Additionally, if you accompany a member, you can enter the store with them; however, only the member is allowed to make purchases.
In some states, you can also access specific services without a membership, such as buying alcohol and using Costco’s pharmacy services.
How to get a Costco card for free?
To get a Costco membership for free, you can take advantage of promotions that offer a gift card with your membership purchase.
Signing up for a Gold Star membership can earn you a $20 gift card, effectively reducing the cost to $45 for the year instead of the standard $65.
This deal is typically available to new members or those whose memberships have been expired for over 18 months.
Another option is to become an Executive member, which allows you to earn 2% cash back on your purchases.
If you spend enough—approximately $6,500 annually—you can effectively cover the cost of your membership through rewards.
You can also earn Costco Shop Cards through certain purchases, such as home services or electronics, which can offset your membership costs.
These cards are often given as a percentage of your purchase amount.
Lastly, consider asking someone with a Costco membership to buy a Shop Card for you, allowing you to shop without paying for a full membership.
With that said let’s have a look at some captivating facts about Costco;
1. Costco operates over 800 warehouses worldwide, serving millions of members.
2. The first Costco opened in Seattle in 1983, following the merger with Price Club in 1993.
3. Membership fees are a significant revenue source, allowing low prices on products.
4. Costco carries about 4,000 SKUs, far fewer than traditional supermarkets.
5. The company is known for its high-quality private-label brand, Kirkland Signature.
6. Costco does not rely on traditional advertising; word-of-mouth drives its popularity.
7. Employees enjoy competitive wages and benefits, contributing to low turnover rates.
8. The company prioritizes customer satisfaction over shareholder profits.
9. Costco’s food court is famous for low-priced items like hot dogs and pizza.
10. The average Costco store generates $170 million in sales annually.
11. Members can purchase items in bulk at significant discounts.
12. Costco has a return policy that allows returns without a time limit for most items.
13. The company offers a variety of services, including travel and insurance.
14. Costco is known for its unique shopping experience, designed like a maze to encourage exploration.
15. The chain’s success has led to an annual revenue exceeding $64 billion.
16. Costco has a strong commitment to sustainability and ethical sourcing practices.
17. The company has been recognized as one of the best places to work in the U.S.
18. Costco’s business model focuses on keeping markups low—typically around 14%.
19. The company sells more than 100 million rotisserie chickens each year.
20. Costco’s membership base exceeds 100 million globally.
21. It offers exclusive deals on electronics, including TVs and computers.
22. The average member saves about $1,000 annually compared to other retailers.
23. Costco’s warehouses are often located in suburban areas with ample parking space.
24. The company has expanded into international markets, including Canada and Japan.
25. Costco was the first company to grow from zero to $3 billion in sales in under six years.
26. The store layout encourages impulse buying with strategically placed products.
27. Costco’s bakery section is known for its large cakes and pastries at low prices.
28. The chain offers a wide selection of organic products at competitive prices.
29. Members can access exclusive discounts on luxury items like jewelry and vacations.
30. Costco has a robust online shopping platform, complementing its physical stores.
31. The company actively supports local communities through charitable donations and initiatives.
32. Costco’s gas stations often offer lower fuel prices than competitors.
33. The company has been recognized for its transparency regarding product sourcing and labeling.
34. Employees receive training that emphasizes customer service excellence.
35. Costco’s business model has inspired numerous competitors in the retail industry.
36. The store features seasonal items that change throughout the year, attracting repeat visits.
37. Costco is known for its unique food court offerings, including acai bowls and gourmet hot dogs.
Conclusion
Costco stands out as a retail powerhouse, not just for its impressive sales figures and vast selection of products, but also for its unique business model and commitment to member satisfaction.
From its unbeatable prices and generous return policies to its surprising product offerings, Costco has created a shopping experience that keeps customers coming back.
The company’s focus on quality, ethical sourcing, and employee welfare further enhances its reputation as a leader in the retail industry.
As Costco continues to evolve and expand, it remains a beloved destination for millions, proving that there’s always something new and interesting to discover within its warehouse walls.
