Behind Costco's Treasure-Hunt Shopping Strategy | WSJ The Economics Of
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- เผยแพร่เมื่อ 2 มี.ค. 2021
- Costco is one of the biggest and most successful retailers in the country. In this video, WSJ’s Sarah Nassauer dissects the wholesaler’s unique approach to doing business.
Photo: Qian Weizhong/ZUMA Press
The Economics Of
How do the world's most successful companies generate revenue? In this explainer series, we'll dive into the surprising stories behind how businesses work--exploring everything from Costco's "treasure-hunt" model to the economics behind Amazon's AWS.
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For 8 years, I went into Costco monthly to buy rotisserie chicken & potatoes, spinach for under $45- I could feed 20 men a delicious hot dinner at my local Veterans Homeless Shelter. And the prices haven't gone up. Thank you!!!!
Thank You
god bless you!
Oh my! Sole bless you!
invested it, instead
You’re a good soul.
I'm gonna be honest, Costco is pretty nice, even their employee payment structure and benefits are phenomenal.
Onkel Samuel. you work there , i can tell.
@@PHlopheActually, Costco gets high marks from the Dept. of We Look at These Things re: employee compensation & benefits; & Costco points to that as the reason for the high retention rate of employees. Happy workers are productive workers.
@@PHlophe I work there, and yes the benefits are pretty nice compared to similar stores.
Costco is overrated. Almost all produce products are more expensive that most of the retail stores. The only reason to keep membership there is their return policy
@@AzeriN01 I’ve found their products a few dollars cheaper than my local super markets. Never had a rude employee, and always a good experience shopping there.
You didn't talk about how they have a reputation of treating and paying their employees much better than for example Walmart or grocery stores
It’s WSJ... pretending they care is “off-brand”.
andrew100z das crazy
@andrew100z you sound like a very happy and healthy person
@andrew100z are you talking to me? None of those things apply. I think you should think about maybe finding why you're so stressed out and think about what triggers you to write something that's hard for others to make sense of. I have no idea what your context is. Nothing you said applies to this video or to me
I hear vendors do amazing as well. Many businesses built their entire business just on Costco. They big huge amounts and pay on time.
It's the "no questions asked" return policy that kept driving me back to Costco for big ticket purchase
Agree !!
I think my cousin said there’s a limit of like 3 years now but I could be wrong
That "return policy" is really a satisfaction warranty with no time limit, except for electronics. Return clerks say all sorts of things to scare people from making crazy returns which I personally have seen way way too much, just to name a few, I once saw a guy returning a 2 yr old rusted BBQ because the igniter doesn't work anymore, and a lady returned a half eaten watermelon because it wasn't sweet lol...
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Well they did ask me a question but that's okay. The return policy is what keeps me shopping at Costco. They are honest to me and I am to them. It works for us and I am happy.
They didn't talk about the food court, is cheap, delicious and fast. Being inside of Costco makes you want to take also a tour over new offers
That’s because the food court actually loses Costco money
It's a loss leader meant to give you an extra sense that you got a deal
Delicious is a stretch. Most everything there is high fat, high sodium and/or high sugar. I buy the hotdog once every few months and that's it.
@@OMGWTFLOLSMH ...and the pizza sucks by NJ standards
Delicious?? Are you serious
I work at Costco and concur with everything she says. I would also add that the pay and benefits we receive rival other industry leaders and even government jobs. It’s a fast-paced environment and perfect for anyone seeking to gain experience and build for the future. As a college student, they are very flexible and work with me and almost everyone’s schedule and have done so throughout the pandemic. They are a good company to work for and shop at!
@Ned Lowe Nobody needs to be paid to write the truth.
@@Cason40 yes you do, if the power brokers make it dangerous to write the truth.
My boy works at Costco and says they treat you really well but, ever since the pandemic, they haven’t been able to hire anybody so all their senior staff has been getting some serious burnout from having to work harder/do more and no overtime or added benefits for the effort! Still better than other retail/service jobs but, there comes a point where you have to bring on more help. Otherwise, the business will collapse from an exhausted workforce!
Government employees should never make more than taxpayers.
@@jeffw8218 government employees also are taxpayers
I've been a Costco member for 29 years. Corporations across America should take note in how well they treat their employees. Costco knows "that paying employees good wages makes sense for our business and constitutes a significant competitive advantage for us. It helps us in the long run by minimizing turnover and maximizing employee productivity." Members like me also appreciate the way Costco takes care of their employees.
And you feel it in there, the employees are happy, they are there for YEARS, and as a result they are good at what they do. It's refreshing.
@@ahill4642 the employees do always seem upbeat and nice at a fast pace. One reason I hate shopping at Walmart is that their cashiers move super slowly and are frequently rude.
Yes. It is so nice to go into a retail store and actually be able to ask the employees questions. You can have a human conversation. Most other retail employees are burnt out, eyes glazed over, with a “please let me be anywhere but here” look. It shouldn’t be rocket science to treat your employees and customers well to ensure repeat business. Yet, here we are.
My husband has worked in the Costco pharmacy for almost ten years. We love Costco and they take good care of their employees and their customers.
3 reasons to go to Costco: They pre-screen the products for me and just present the high-quality stuff, good prices, and $1.50 hot dogs
..with radish
the soda price went up 10 cents but the hotdog combo is still the same :P
It really is amazing that the hot dog has never gone up in price since it first launched
you think a hot dog for $1.50 is "high quality"?
Many here in Chicago praise the Costco hotdogs 🌭!
It’s absolutely true. I never have urges to roam in Walmart or target because there’s nothing new. Costco constantly has new things and does make me feel if I don’t go twice a week, I am missing out on some once in a lifetime deals. I also like the wide aisles and free samples.
and really costco is just organized. walmart has trash everywhere and everything is locked up and wait forever
@@kalidilerious Agreed. Costco just feels like a much nicer place. I guess people steal things at Walmart a lot.
Same here!!!
I'd go there just fornsamples
once in a lifetime deals on a 5 gallon jug of mixed nuts lol get a grip
I have worked for Costco for 25 years and I love my job! Great pay and the benefits are amazing. I am glad to see our company
is still going strong through the years. This was put together so well, great job!
During the pandemic, I started to buy more groceries from Costco and found some things I didn’t know they had, now Costco is weekly must go
@tommy aronson who is they
@@jiankuo In Tommy's situation it means "I"
@@jiankuo omg windshield wipers ALWAYS at costco
I like it cause they pay fair wages to their employees
If an employee consents to work for that wage, then it's fair.
So yes, the employees would agree the wage is fair
@@stuflikethis hold on let me put on my IQ Lowering 2d 4bit glasses real quick.
Yeah I see what your saying...
Their prices are competitive, and their goods are superior.
@@SisyphusJP the only people with low IQ’s are you and those that liked your comment as the previous comment makes perfect sense. But then; we do have a great education system in our country.
@@xr6lad some people agree to work because they need work not because they believe the wage is fair.
I shop at Costco regularly. Best place ever! Great staff, unbelievable prices, super quality stuff and a great return policy if you make a mistake. And after Covid, free food samples again! Do almost all my shopping there. 👏 👏 👏 Costco!!
I really miss the free food samples. I've bought many a product at Costco because I was able to taste test them first.
We literally bought our new house to be only 3 miles from Costco lol
I’m 0.6 miles away from Costco 😆
Oh dear.
@HahThatsWhatSheSaid LOL 😂 3 miles is like 500 feet in Texas units. It is at the highway exit we always use so that’s handy. They have over 100k members at our Costco alone 😮
Well played sir. I too am 3 miles away from one 😁
Kirkland products are top notch
I don’t know if I would say that this was the “economics” of Costco, but rather the marketing of Costco
You are correct. And the only economics based thing they said I question. I keep hearing about how Costco makes its money from membership fees, but the executive card I had for my 2 person household paid us back a couple times over, so I'm calling bs. If an absolute lightweight like me was upsold something that even I profited from, then how could they be making money with them? And there's no way their margins could be that small on their items that they essentially break even on thousand of dollars annually of purchases. They say there's an 11% markup, yet there's no profit in that when all is said and done? C'mon. $166 billion in sales, and they break even, and that's with 1/4 of that coming from and in house brand? C'mon.
@@jasondashney i was told 12% at my employee orientation there(still work there). Costcos income is mostly memeberships. Im sure there are tons of ppl who pay for the membership and only shop there a couple times a year. My parents for example have shopped there only 3 times in the last year which creates a huge profit margin. Costco also will often lose money on the gas just to lower the price to entise ppl to buy the membership for said gas. And the gas is detergent gas which is much better for your car. I did the math and if you spend over 3000 dollars a year(250 a month) at costco then you make up the difference between regular and executive memberships. And if you spend double that then your membership is essentially free
@@Tim_Marshall73 maybe you are right. Maybe it's like how gyms rely on the fact that the vast majority of people with memberships don't really go to the gym.
Other retailers WISH they were Coscto. I also hear Coscto employees get treated very well.
I am literally obsess with Costco. Whenever my parents go without me I feel betrayed
Lol i am the same
Why is this so true
Me too
girl, SAME. like the betrayal is REAL
My husband gets insulted if I go without him
Why does WSJ think we want cringe tik toks interspersed in the video?
They have to prove that Costco is actually popular among the peasants to the Park Avenue elites who have never set a foot inside one
How is a grocery hall cringe? There are much worst.
Why do you think TH-cam wants to look at a picture of your weak back?
@@b4u334 😂
For real 😂
Also, Costco has decent employee benefits/wages and Amazon doesn't which is why I boycott Amazon.
Absolutely agree. Where else can you work 20 hours per week, for better than minimum wage, *and* still get medical insurance, PTO, 401(k) etc. There's a reason I've seen the same faces serving me at Costco for the last 20 years.
Amazon is capitalism on steroids
I got full benefits working part-time at Amazon.
@@olivierauberger nice try Jeff
@@NamaDoodoo Sorry to burst your bubble, but I've had several kids work at Costco while at college. They all got full benefits while working part time.
Trader Joe’s and Costco, two of my favorite grocery shopping destinations with very different sale strategies yet both earn my loyalty.
What does Trader Joe offer that other grocery stores don’t?
@@wackyworkbench OMG! Unique environment, one-of-a-kind and innovative foods, great value and friendly staff!
Loyal American consumer
I wish there was one of either store near me, but they are built few and very far apart unless you live in a large metropolitan area.
Most importantly Costco treats and pays its workers well. Customer service is overall excellent. Very different than Wal-Mart or Amazon. Getting extra warranty on appliances and the excellent return policy are bonuses.
I’ll be honest. The treasure is an incredible source of exercise.
Sure.. if you define waddling around leaning on a cart at a slow pace an “Incredible” source of exercise.. Maybe if you’re 80...
BananaChipzzz hey man.. most ppl don’t walk much, not everyone is training to be an Olympic athlete
Nothing better than wandering around in a cart traffic jam, inhaling Covid spores.
They didn't talk about Costco gas which is high quality and much cheaper than Chevron or Shell gas.
I agree for the price but is there really a quality in gas? Gas with an octane rating is the same everywhere, isn't it?!
@@Seskoi i believe Costco gas has the chemicals similar to Chevron gas that help keep the engine clean. I feel like cheaper gas stations, the mileage isn't as good. Maybe it in my brain but I would advise you test it out if you can. Zero out your trip odometer after fill up then at the next fill up divide your miles by gallons filled and compare it. Its a fun experiment
@@Seskoi Costco is Top Tier fuel, as is many major fuel brands. Most auto manufacturers recommend it. Top Tier simply means it has a certain amount of cleaning additives that are above the EPA mandated amount.
@@Seskoigosh no. You would think but no. I notice that gas from certain places definitely ‘burns faster’ than other places. I can fill up at Costco once a week and still have plenty leftover when I refill for the new week on Sunday.
I can’t believe no one has mentioned Costco pizza yet!
Chicken bake/hotdog is also good
Never dared try the food court. But I do love buying the rotisserie chickens.
@@beverlyanne5699 the food court has really good food. They literally lose money because they use good ingredients. They lose money there to get people to buy more things in the rest of the store
Too doughy
Because it doughy and greasy? Americans wouldn't know good food if it smacked them upside the head. Hence more than half the population being obese or overweight.
I've been buying from Costco for my restaurant for over 10 years and can say without a doubt costco products are not only better quality but often cheaper than the stuff you get from broadliners like US foods and Sysco. On average we save 25-30% buying at costco...and that's after factoring in gas and time for the 2hour drive. Granted, we live in a fairly remote area, so we don't see the best prices from our broad liners.
Reverse of treasure hunt is... the heart palpitating moment of finding out if your favorite item is still being sold😅
I called a friend asking where he was.
He said: Safeway
I asked: why not Costco?
His reply: I go in for 2 gallons of milk and end up spending $300.
But, I am there twice a week regardless.
Self discipline helps
Your friend spends 30k+ in Costco every year?
@@LednacekZ Didn't ask, but how did you get to that number?
I do know someone who spends over a quarter million a year at Costco. Runs a business. Different guy, not the same fellow.
She forgot to mention that Costco also does not pay the suppliers until it is sold. So it squeezes the manufactures if they want their products there. Their Kirkland brand comes from major manufactures under cutting them at the store front.
Another reason not to shop there. Quality suffers
@@Isochest L take
*undercutting
But it is frustrating when you go in to get something that they usually have and it's not being carried that week.
It was interesting when the narrator mentioned that being a good thing. Typically consumers dislike it, and are not going to shop more because of the sense of urgency? Or whatever tf 😂
Fact: Costco makes 92 cents of $1 profit from annual membership and rest from merch.
And yet, my Executive membership gives me a check each year which more than covers my membership fees, and that is primarily from buying staple goods (cleaning supplies, bread, milk, eggs, and vegetables) for a family of five, and cheaper than I can get it elsewhere.
So I guess the money they make from membership is from those who haven't done the math and upgraded to Executive. Having EM didn't make me shop there more - I just added up my expenses at the store for a year, and worked if 2% of that would cover at least the difference in membership prices. Then it became a "no brainer".
@@stainlesssteellemming3885 They also make money from your credit card fees. There's nothing wrong to entice you to get that when they can easily make it back with the fees.
@@randomname9758 Not sure what you mean here ... unless you are referring to Costco branded credit cards. Yes they make money on those, but they also pay CC fees for every non-Costco Visa card which is used in store. I actually have a cash-back card from a different supplier, so wen I shop there I get a rebate from Costco, and a rebate from my CC company (probably about 4-5% in total).
We switched from Sam’s Club to Costco a few years ago and have never looked back. Great quality at great prices. And they treat their employees well.
3 Reasons I still choose Costco over others
1. I get most products(selective ones) cheaper than from anywhere else
2. No questions asked return policy
3. They treat customers and the employees equally and they pay them well.
And they have the best churros, period. Makes the ones Disneyland sells for five times as much money pale in comparison.
You never been to México bro
@@justinwil4365 Mexico is too dangerous
I wish the Canadian Costco stores would sell churros! Every time I go stateside I like to hit up a Costco just for the churros.
@M E Philippines to
@@justinwil4365 My Spanish teacher in high school bought Costco churros to show us how they are supposed to taste lol. They are so good m8
For a family of 4, Costco is amazing. We save so much money shopping there and quality is great.
Great for organic products.
honestly i like them because the employees are nice and they are fast at check out :)
They are happy because they have great benefits and pay well.
Fastest checkouts I've ever experienced, even if you have a buggy piled full of stuff.
The managers keep stats of the cashiers speed. If it drops too low they don’t stay cashiers for long
Love Costco. I've been seeing the same employees at my local Costco for the past 15+ years. That's how you know theyre amazing.
Or they couldn't get into graduate school...
I love Costco! They can keep doing what they’re doing and I’ll keep showing up faithfully!
I find it frightening that the path they draw with the dotted line going through the aisles of the store is the exact path I take every time I got there.
Kind of like a trained ape
One thing this video didn't include is that Costco doesn't really make all of their Kirkland signature products. They make contracts with reputable companies to buy higher volume and put the Kirkland Signature logo on it.
Is anybody is under the impression that they have their own dedicated microwave popcorn factory, battery factory, jeans factory, socks factory, bottling plant, butchers etc?
@@jasondashney😂😂😂😂 LOL I will say the KB socks are top tier and only $9.99 for 10 pair!
@@tailorforeman7082 I’m wearing some right now.
Quality: High
Prices: Below average - Low
Employee pay and benefits: Well above average
Shopping experience: Good - Great
Return policy: Absolutely incredible
Membership fee: Certainly fair
Parking: Decent
For a single person Costco may not be worth it since everything is in bulk, but for almost everyone else, it can be a good - excellent choice.
I really love Costco. One of the few stores that I have an *Overwhelmingly Positive* view on
Keeing things on pallets instead of stocking onto shelves is not a “little bit of saving” that’s absolutely huge. I work for Target and my entire day is spent updating shelf counts or restocking shelves, either directly from a truck or from the backroom.
Costco doesn’t even have a backroom, you are shopping from the backroom. Completely understated how much more efficient that is.
I go in Costco usually for my housemate essentials. I go in and out with only toilet paper and paper towel and sometimes soap and trash bags. I dont spend alot of a time in there like a normal person
Even if I would move, I would first check how far the closest Costco would be from my new home
“Over 803 locations”... does that mean they have 804?
But 275,000 employees on the dot.
And 342 employees per location. Hmm. are they including all former employees too lol
Blake Petipas tons of corporate too
over 804= about 804 (but at least 804)
Costco gets it right; with a popular, cheap quick food service, a large variety of items at a bulk discount, exceptional customer service, and other amenities like free samples, it's no wonder that it's a growing company with stable revenues and a growing fanbase. The $1.50 hot dog combo and chicken are great ways to attract customers into the store, where they are exposed to lots of merchandise.
Seldom do you see a person walking out of costco with just one or two things in their cart.
I'm that guy, I buy my coffee, booze, and meat, then I leave
I did it. I bought a home safe. It was right up front so I could get it & hit the self-checkout before the fever hit.
I bought a bag of chips, some meat and cheese and the guy at the exit jokingly said, is that it! Man you must go back and shop more... I still love em
I once just needed underwear so I went to Costco to get it. I got a couple comments while in line about that.
"Short shopping trip eh?"
"Huh, that's it?"
"A 1-item Costco trip, if only I had the restraint"
There’s something for everybody. I’d say its worth it
Costco is like another Target for me, i always go in for a few things and walk out after spending wayyyy more than I wanted to wondering what happened
I never have any problem with Target. I feel their products are a bit pricey for me😂
"Welcome to Costco. I love you."
Not gonna lie Kirkland is a pretty good brand
Kirkland's standards are _higher_ than many name brands. I remember reading that Procter & Gamble makes Kirkland's laundry detergents for them, but they can't just use their Tide detergent for that purpose. Kirkland requires them to make a detergent with _better_ quality than Tide. I use Kirkland's unscented laundry detergent and it's phenomenal, no added scent and hardly any scent to it at all. Plus the huge container lasts forever. I also understand a lot of the Kirkland brand alcohol is incredibly good, and inexpensive.
I am probably the only person that goes into Costco with a list and only gets what is on the list.
Nope - you're not alone. But then that's how I shop generally - not a big "impulse buyer". I don't quite see how people can blame stores like Costco and Target for their own lack of discipline and self-control.
Not alone. I made a commitment to bring a list and stick to it. No more wasteful items to “try” or captivated by a different thing. I go with a list, grab what I strictly want (few items) and get out quickly.
I love Costco! Being in Canada I could buy a gift online in Costco UK with Canadian membership. So I send from time to time a gifts to my family to UK with no delivery cost. And during pandemic they kept a human approach comparatively to other big grosseries. 👍👍👍
My husband and I live well over an hour away from a Costco. We only keep our membership because when we do make that treacherous drive every month or so we can buy quality items for an acceptable price. We also order some items from Costco online. But since we are senior citizens it is frustrating to have to “hunt” the huge warehouses for what we have on our list and it is never guaranteed that we’ll see our favorite items ever again. By the time we leave we are exhausted from the long walks, crowds, lines for returns, lines for customer service, lines to check out, lines to leave, and the many frustrations about not finding an average of 20-25% of the items on our list that we used to buy which may actually still be hidden somewhere in the warehouse but that we cannot find. Because of foot problems I cannot walk for miles but trying to use the motorized handicap scooters in these stores is even more difficult because of the crowds and very high shelves that I cannot see around from such a low position. For 20 years now Costco has been a love/hate relationship for us.
Well-produced video. Thank you, WSJ.
Costco is like cocaine to me. Can’t get enough of it, especially their 🍷
Search up Yosemite Prepper on TH-cam. He has prepping videos (I’m a fan)
i live by their vodka. The price is insane.
I think the wine might the "like cocaine" part of that metaphor...
@@amypark667 $16.99 in the USA would be $60 in Canada once the government gets their taxes. Gotta pay for that free healthcare somehow.
Wine is icky
Costco is not for people who are on a tight budget. It’s a great place to get quality products at good prices. I never fill gas anywhere unless I am traveling out of state. I love their super wide parking spots and most people drive very nice cars too so I don’t have to worry about people carelessly denting or scratched my car.
I think costco has become an option for those on a tight budget. 5 dozen eggs $11.99! rotiserrie chicken $4.99, xl pizza 9.99, hot dog with soda $1.50. Also a lot of the necessity items are cheap. detergent, TP, bread, etc etc
I think it is actually great on a budget, their goods have great expiration dates and their milk/egg prices are atleast the best in my own area.
Costco is life! Biggest thing you missed is the return policy, it’s why you can buy now and think about it later. I am never worried about getting stuck with something. Also their online selection for bigger items (like patio furniture for example) is really good and very high quality.
ALSO: I MUST mention that their Pharmacy is outstanding as well!! Low prescription refill fees (~$4 vs $10-$16 elsewhere), plus excellent service there too!! And very little waiting. Can't be beat!!
I sometimes go into a costco just to get a hot dog and a pop... so cheap at $1.50... lol.
i know.tons of folks go there cuz of how cheap those things r. it's a great deal.i wish i can go there all the x.:(
If Costco doesn't have it, you don't need it. Nice video! very engaging from the beginning to the end but People will be kicking themselves in few years, if they miss the opportunity to invest.
I use money to better my life and solve my financial problems from the profits I make from every investment, I invest on Bitcoin that's why money come to me easily.
Buying Bitcoin doesn't make you a winner, the ability to make profits daily out of your capital is what makes you a winner. stop depending on the market price to make profits, choose trading over holding.
@Chris Davis This lady is no joke, she's a genius when it comes to technical analysis. Love her.
I saw the recommendation but I didn't bother chatting her up I keep loosing tally i still don't understand how the forex market works tho.
My cousin recommended her to me. He has been investing with her for some months now, but the profits he gets is not that large, I've seen other traders who offer to give you 500% of whatever you invest
Sarah, do more of these videos. Great work.
I absolutely love Costco. I am frugal when it comes to buying. The Kirkland brand for me is synonymous with quality, volume and better price than others. Rotisserie chicken is something I always buy there. I also love the hot dog, pizza and the chidken bake! I often find myself going there just for the food and end up buying groceries.
Good couple of points, but definitely would be much more interesting if it dives deeper into specifics. For example, I am always interested in how those merchants or Costco decides what to put onto shelves. I am sure there is a margin target that the items have to hit in order to return, and there are also membership benefits that certain things only show up in a very short period of time during a whole year. It seems that Costco has been really good about picking the items that the customers want, and I think that is one key component that keep people coming back thinking of buying basic items, ending up with a lot more impulse buys.
I'm going to be real here and say: if I must choose between Amazon chucking a half-crushed box at my front door or trekking to Costco for a $1.00 hot dog, 50lbs of gourmet cheese, and a Dyson vaccuum I never needed... Costco is gonna win everytime.
This a fun series. Keep them coming!
I went there for milk, forgot the milk and the bill was $526.13. Bought it for $6.00 at a gas stn, still happy.
I call it the $200 store for a reason. They provide a valuable service to me: easy stress-free shopping and quality goods at hard to beat prices.
I worked on the refrigeration in several different Costco location. Their managers always treated customers fine, but vendors very badly
I’m a first year Costco member. So far I have liked their Almond Roca mixed bag for $10 & their hot dogs. But I love the garlic pepper chicken drumsticks. It’s really the only reason I go to Costco over Sams sometimes. It’s the garlic pepper chicken drumsticks.
They didn’t even hit on how everybody wanted to try the samples before the pandemic not the food court. Thats where my loyalty was. Lol
I avoided the food bank times. Sucks having people block aisles.
Here’s how to never pay for a Costco membership. Have a family member or friend who has a membership get you a Costco gift card (as cheap as 10$) when you walk into Costco and they ask to see your membership show them the gift card and say it was a gift. You don’t need to be a member to use the gift card. Buy something and then say you want to reload it. Once reloaded you can continue to do it over and over again. Never having to buy a membership again! Been doing it for 2 years
If you and a friend spend enough money, you might as well get the executive star membership and it could pay for itself.
Didn’ WSJ post something about how Costco can’t make it a few years ago? Even the founder of Costco said WSJ only focus on a company who profits from now to next Tuesday.
Look who is coming back to say good things about Costco now. I guess WSJ learned that business is not like fast fashion, not overnight things
Outstanding!
First thing we got living south of the border when we moved this year was a membership to Costco's overseas branch of PriceSmart. At least once each month, we'll walk in for three or four things and leave having spent two grand and stocked up.
Litterally every shopping Costco trip me and my mom have will usually cost atleast CAD$200😂
I love it! Treasure hunting. I always find something new with a lot of utility every so often. Maybe Rolex in Ontario stores. I've seen that in USA Costco, but not in Ontario.
This is a great store! I have never had a bad experience there. Employees are always nice.
I go Costco once a week, maybe twice. I can’t help myself.... I love it!!!!
How the company treats it's employees is actually what keeps me coming back. Kirkland is good enough kind of brand, it's not bad, but barely.
I work at tire department , and I shop during my break 4-5 times a week there.
Thank you! I have a good mechanic that I would never change, but I love Costco and their tire shop too. Keep on living the dream!
I worked at sams club for 4 years. 2 things I learned is the rotisserie chicken is a loss leader, they in fact lose money on every chicken. And they move stuff around the store all the time to make people search for stuff. It boosts sales.
I love Costco because they mostly carry decent quality items, they are very price competitive, and they treat their employees well. I did not go there during the pandemic because they were just too busy for me.
Even when I went to Mexico and the UK, I went costco. You feel at home there
When I worked there we called it the $10 dollar store because everything is $10 dollars and up.
My Father in law calls it the two-hundred dollar club, because you can't leave the store without leaving at least that much behind.
Costco used to be my first choice store but during pandemic I often started going walmart and other local stores. I didn’t like Costco Canada online delivery as they don’t have catalogs available and they don’t have any store pickup option.
costco costco we love you***
first time i stepped in .. love at first sight.. my happy place!
I feel Costco's stock price should be more than that of Amazon's by a mile
Market cap is only 1/10th of Amazon currently. Some sold off their Costco stock in the recent dip. I just laughed and bought more.
Maybe if it were only comparing retail, but Amazon has so many product lines. Video, web services, etc..
At my local Costco in Australia. There are dozens of employees throughout the store, and yet only ever 2-3 checkouts open. So there are always long lines to check out. And I only just realised that its playing on psychology. They are making you think "maybe I will go back and grab that item I wasn't sure on, I'f Im already here, and the checkout is this long, I may as well. I don't want to have to come back"
I can't speak for Australia but as cashier for costco that is not how our store is run. People working the sub departments like Deli, Bakery, hearing and optical rarely get called upfront as they have their things to take care of. Clothing, Majors (TVs etc) and the rest of the store have to have at least 1 employee working in each of those areas. All other employee's are fair game to get called up when its busy, the managers and even the store manager will and have worked checkout. Getting people through the checkout is a major priority, If the lines are more than 2 carts waiting they will try to open more lanes if at all possible.
They just listed most of the reasons I don’t like to shop there. I know what I want but at Costco it can be anywhere because they move stuff around. Consequently I only visit once or twice a year.
Here in Sweden when Costco opened, prices are not especially cheap by any stretch but often "ok" in bulk. Reason is many items are imported from US and our currency is super weak vs USD. So compared to stores operating only with EU products Costco is actually a bit more expensive.
But customers still like it because it's interesting products and many things you can't get anywhere else. Feels very American and that is an experience in itself :)
Costco gas station is always cheaper , if they install electric charge station for free charge ,what will happen?
Electric cars take hours to charge. If you're stuck at Costco for 2-4 hours that quickly turns into a shopping trip.
Hello from mexicali Costco is my favorite store 👏🏻🇲🇽 I’m happy when I’m in Costco keep it going 👌🏻
I live in Kirkland, Washington. Costco’s Kirkland signature brand comes from our city name, and we are proud of it.
Love Costco for just about everything, my one complaint is that their website and app are pretty terrible. Their online presence doesn't need to be bigger, but it certainly needs to be better.
I totally agree. I actually have seen that the website and store are like two different companies. Its kind of annoying really. Especially if you find someone you love in the store, but they have the wrong size. The website doesn't help you. Its better to have a manager check others stores and drive to that store to get the item you want.
I work for Costco and you are correct. The phone app is awful and other areas of IT in the business need a major overhaul. That said it is pretty much the only area that is like this, they have nailed everything else.
I agree. But based on this video it seems likely that they intentionally aren’t investing much in the online experience because it’s not their focus and they don’t want to compete with Amazon.
Didn’t CNBC make a video on this with exactly the same points? Is this what WSJ has become? A CNBC derivative?
I saw a comment by steve that made exactly the same points. Is this what you've become? A Steve derivative?
@@thursdaythought7201 IDK who Steve is. We probably watch similar things and came up with the same observations independently. That is something you don't expect from WSJ, who should've done research on what their main competitor has already came up with.
Costco probably bought an advertising package with both WSJ and CNBC - which included a business-focused TH-cam video, some print ads, and some online advertorials.
Maybe CNBC is actually the WSJ integration and not the other way around
@@omi_god says a guy watching CNBC that is censoring any videos of your new Presidents dementia that we are seeing in the rest of the world and who the lies of CNBC and CNN don’t air. Hilarious you support censorship of what the world sees as a dangerous developing situation from a man that often doesn’t know who he is talking to, gets confused and don’t even recognize family members.
There are costco's that have outdoor attached garden centers for those who don't know.
There is a price club style experience at the Costco business center locations. Where else can you buy an oil drum of olive oil for just under $900, or a box of super pretzels.
I hate being inside Costco but things I actually need save me so much money. I only grab the same items every time I am in there and nothing more. I get so annoyed when they move stuff around and I have to hunt around.
I used to visit several times per week. I've not been in this year since they introduced their disability discrimination policy in December.
Details?