Costco, one of the largest retailers in the United States, sells products in bulk at discounted prices despite rising inflation. The national average has gone up to $5 a gallon with customers able to enjoy these perks through an in-store annual membership program.
Even Costco is beginning to feel the pressure of global inflation as prices at their food court rise steadily. In July 2022, the store went up 10 cents from June, raising the national price on chicken bake for $1 more at $3.99 and 20 ounce soda selling at $0.69.
Individuals are still looking to shop at the store in order to avoid the inflated prices at traditional grocery stores, but are hesitant due to the annual membership cost.
Costco does not offer a 24 hour guest membership or give non-members access to discounted items, unlike its competitor Sam's Club. If you are picking up a prescription at Costco, you may make purchases at the pharmacy with cash, debit or Costco Shop Cards, according to the company's website. Members only have access to all of the other items in the warehouse.
The annual membership shopping club seems to have worked well for the retail giant, as Costco reported a net sales increase of 16.9% to $188.34 billion over a 44 week period in July 2022.
How much does a Costco membership cost?
There are three different categories of annual paying memberships offered by Costco. The Gold Star membership costs $60 per year and includes an additional Household card for a family member or friend. The Business Membership costs the same as gold but allows you to purchase products for business, personal, and resale use.
It costs members $120, includes all the benefits of the previous categories, gives a 2% reward on qualified store purchases with a maximum of $1,000 savings annually and discounts on vacations booked through Costco's travel service.
The company offers its members in-person and online access to the costco's cheapest prices can vary from week to week. Some items it lists for less than $25 include pet supplies, personal hygiene, office products, and frozen seafood.