Costco Wholesale membership dues and the price of their popular $1.50 hot dog and soda combo they won’t be going up in price, for now.
At a time when consumers grapple with record inflation, Costco executives said Thursday that the time is not right to raise annual dues on your membership or charge more for the hot dog and soda combo, which has cost $1.50 dollars since it was introduced in mid- the 1980s.
Costco last increased its membership prices in June 2017 and previous increases have occurred five or six years apart, said Bob Nelson, a senior vice president at Costco.
“Given the current economic environment, historically high inflation and the burden it has on our clients and all consumers, we believe that increasing our membership today before our usual time is not the right time“Nelson said, according to the AXIOS portal. of the decade of 1980 was $1,50 and the price current is $1,50. We have no plans to raise the price at this time,” Nelson added.
In fact, on the other hand, Amazon raised the price of its Prime membership earlier this year for the first time since 2018.
Costco has two types of memberships: Gold Star, which costs $60 dollars and Executive, which costs $120 dollars.
Membership renewals reached an all-time high in the last quarter with more than 60% of customers in the US and Canada renewed the most, Nelson said.
While Amazon, Target and Walmart reported lower profits, Costco said it saw increased sales of the 16.3% to $51,610 million dollars when last year it obtained $44,380 million dollars last year.
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