How Costco Became A Massive "Members Only" Retailer
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- čas přidán 13. 06. 2024
- Costco makes billions doing what in retail might once have been thought unthinkable: charge people to shop there. The company draws most of its income from membership fees, and has a nearly 90 percent membership renewal rate. It charges very low prices on goods, rotates its inventory, and pays employees better than the retail average. But how long can it last?
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my mom has a friend who had bought a couch at cosco circa 2009. in 2018, when they were getting ready to move, she realized she couldn’t take it apart and it being nearly a decade old, the manual was nowhere to be found. she went down to costco and asked them how she was supposed to take it apart. they explained to her that she shouldn’t worry and they’ll send someone. a week later, a moving truck shows up at their door. costco workers come in, take apart the couch and take it out. she asks where they’re going and they reply that they’ve been told to take this one and replace it at their new house. the thing was absolutely trashed, worn and torn with stains, the whole shebang. no way they could resell or salvage it. no warranty, nothing AND THEY JUST GAVE HER A NEW $2500 COUCH.
I forgot about their replacement guarantee
$2500 is what the customer pays $27 dollars is what Costco pays China...everyone is happy
its so easy but hard for people to understand, you treat your customers right and employees and everything will fall right into place.
That's why people go back to Costco without thinking the business won't forget to keep their net benefits above certain level. The price of a couch does not come from their good heart, but someone should pay for that. Who will that be? I refuse to be a slave of Costco but will support our small local business, our neighbour even i should pay a little bit more; has less to trash in a bin
That means other members paid for the new couch.
Knowing that Costco treats their employees right makes me feel good about shopping at Costco's. You generally don't feel like they're out to screw you over.
Ya like trader joe
and it pays off for the company as well. Less employee turnover is a win win. Love this company
did you worked for Costco ?????
never judge a book by its cover
The employees at the Columbus Ohio Costco's are grumpy and unhelpful, feels like Sam's Club sometimes.
@@armoredsaint007 lololol
costco has paid every employee "covid pay" for months adding on 2-4$ more per hour. Thats an extrodinary amount of money and a classy thing to do to show employees their hard work and commitment is everything
I do enjoy it, especially when the overtime hits. I do noticed it does help it comes in
The fact they treat them so well makes me want to continue to do business with them.
Take away the membership fee and let's see what they would pay then.
Costco is a joke
@@wendywilliams1251 if it’s such a joke then why bother taking the membership fee?
@@RocketboiC4 it's a fact that Costco makes half of their profits from the membership fee. Stop charging people to shop at that dump and their employees will get 6.00 an hour. I don't pay a fee to shop at a supermarket. There is no advantage. Not to mention the tiff raff employees that work there that couldn't be get a job anywhere else.
A mere 3 visits to Costco to fill petrol in my car recovers my annual membership fee. All other savings thereafter are a mere bonus!!
My cousin started working at Costco in the early 90s as a way to pay his way through college. He thought it was a temporary gig for him. He's still working there today.
...is that good or bad? Did he finish college, did he return and got promoted?
what's the minimum wage?
@you know I am right pp wow. That's unheard of almost everywhere else!
@@davea.richards9744 Oh he did alright but doesn't work there full time anymore...he only works there part time just to keep his benefits. He's still in the same position as he has no ambitions of moving up their corporate ladder since he's moving up in another one.
@@shukracharya_ $20 per hour unskilled.
Been working at Costco for the last six years. Honestly, it’s a decent place to work. If you can deal with certain, painful, customers then it’s a good place to work.
The benefits are also really nice.
I've worked for Costco going on 29 years. Had a number of different jobs before even Marine Corps. Costco is the best! They take excellent care of the employees. They don't just say they care, they do!
My brother also works there and says the same.... 🥰
if your management likes you NO different from other companies.
@@jasonsmith1143 my bosses and supervisors actually all hate me.
@@starwars1744 You must be one of those annoying "thinkers". Management hates people that show potential because they are possibly competing for their jobs in the future, especially if they are not very competent to begin with.
8:15 Unmentioned is that Costco's turnover rate, around 7% vs 20% for similar retailers is a huge savings to their bottom line. It costs up to 20% of an employee's annual salary to hire and train a replacement. Helping achieve this is a perk that certainly reduces profits, providing health care coverage to all employees.
to me that says volumes it is the USA 4TH largest pizza co
@@tomerph Haven't seen it ranked that high, most articles put it at 14th. With the size of their pies being 18", the largest of any chain, the quantity part makes sense. But the price of a pie not changing since Price Club set it in 1989 raises questions about how they maintain profits.
@@dk50b I think it was in quantity thank you that may have changed since then
Fun fact: You don’t need a membership to purchase alcohol or wine, to eat at the food court, or to be seen by the independent optometrists. You can also tour the warehouse before purchasing a membership if you’re unsure about committing.
I didn't know that! I just thought I was barred from entering! 😂 I just can't afford to buy anything but the bare minimum.
Some regions denied people from eating at the food court
You forgot to mention that no membership required for prescription medication either. That's the law, a company can not withhold access to prescription. Just tell the door greeter "pharmacy" they are required to let you in without a membership but you can not purchase anything else except your prescription without a membership card. No vitamins no over the shelf items that is not covered by prescriptions
Oh. You can buy tobacco without a membership also
@@Supersquigi only indoor food courts they will not allow you to go in and purchase. The food courts cash registers are not set up with the same program that requires your membership card to activate the point of sale. Funny because a girl asked for my membership last week at an outdoor food courts and I told her I don't think it's going to work, she pretend scanned my card and then said it's working. Lol. I haven't had that membership activated in over 10 years I only use it to get inside to be able to see some old co workers that are still working there.
I like the fact that they pay their employees well. That alone translates in good customer service (I feel good shopping there, seeing genuine smile or at least, not seeing defeat like at Walmart).
Nah, not as good as you'd think. Can't afford an apartment in my city for the salary they give.
@@bluedancelilly minimum wage is $7.50… 🤷♂️ they give $14ish
Are people really only making on 7.5 in USA? That's really low.
@@mrm18857.25, actually
@@mrm1885minimum wage for tipped workers is only 2.13
$60 per year is not bad at all.
It pays for itself within 30 minutes of me entering the store.
£36 here and well worth it
@Feminist destroyer not really. Their quality of items is far better than you can find anywhere else
Feminist destroyer lmao you sound like one of those folks that’s too cheap to spend a measly $60 for a membership. Costco has extremely good quality things. Their Kirkland brand for food is out of this would. Shoot. Most of their Kirkland materials are good quality. And like the person said... he can make the membership pay for itself in 30 minutes with one checkout. You seriously have no idea what you are missing out on.
@Feminist destroyer Well, I hope you change your mind and try it out. As a non-feminist conservative who has both Sam's Club and Costco memberships, Costco is unparalleled.
Feminist destroyer lol I’m using a friends card splitting the bill amongst 3 ppl I think we are finessing them
My family has had the executive membership for around 15+ years and it’s been worth it this entire time. We’re a big family so we spend a ton of money there. It has always been a great experience.
During the height of Covid, my Costco had line ups of members waiting to get in that wrapped around the warehouse. Costco limited the number of people in the store for social distancing, but the members never stopped coming and the sales and stock price prove it.
Right. They are wrong saying Costco lost money during covid
We bailed on Sam’s a few years ago and joined Costco and never looked back. We’ve found the merchandise to be of generally higher quality, good value for the price, and customer service is excellent. The fact that their employees are treated well is important to us as well.
Same for me. Our family actually has an executive membership!
We did the same thing. Never look back to Sam's.
Well sam's gives you a free membership for the first year AND they are getting better products, you just have to ask for what you want..... AND they have curbside pickup down to a T
@@bubblygranolachick I like Sam's because it's cheap. That's about it.
@Rick Dalton they currently have more organic options but not sure how much you actually save
How do I love Costco? Let me count the ways: 1-The optical department alone saves me way more than my annual membership fee. 2-I can shop while I get my tires rotated. 3-I can fill up my gas tank when I'm done shopping. 4-I like to buy local. 5-They treat the employees well, unlike the jerk who owns Amazon. 6-Easy returns if you don't like something. 7-Great prices. My husband eats a ton of peanut butter, and I can get 56-oz of ORGANIC peanut butter for 10 bucks! Can't match that anywhere else. 8-...I could keep going, but you get the idea.
Sounds like Walmart/Sam's Club 🤷🏾♂️ who are silently catching up to Amazon as well...
@@Ellivation quality is much better at Costco
Eat local? The goods aren't a farmer's market they're sourced from all around the world
@@Danielevans2 They are also locally sourced when available.
@@jimpad5608 quality of what? Please dont say any major appliances or anything non perishable
When I joined Costco in the early 80s, there was only one store, in Seattle. You had to have business license to join. There were times, during that period, I was the only person in the store. I told all my friends, the place would never make it...😂
LMAO DID YOU GET SOME SPECIAL PERKS BECAUSE YOU WERE ON OF THE FIRST CUSTOMERS?
To be fair, they probably wouldn’t have been successful if they stuck with the business license-only model
Treating the employees well shows because their customer service is always exemplary. Also, they're products are generally of high quality- lots of organic items and the return policy is easy and courteous. It's my favorite store!
I don't mind paying a bit more to shop. Treating and paying workers right is important.
I find it interesting how it seems legitimately surprising to the typical business owner that paying employees a better wage can actually increase profits
Happy employees means that customers pick up on that and when everyone's happy then employees care about their work and customers will spend more
100% agree. It goes a long way full circle. Pity many companies can’t see past their greed. Hence, Walmart vs Target.
That is precisely why I have been a Costco member since it was "Price Club". It is also why I don't shop at Walmart except in extreme circumstances (like 3 times in 60 years).
Sure. But somehow Costco was never on Fortune's Best Place to Work, not highly ranked anyway.
The gas prices alone is worth a membership imo.
Yep only get gas there when possible
Depends where you are. In my area Costco is at most $0.03 cheaper than all the other stations.
No don't need a membership for the gas just a visa card
@@SethPowell7 For me in Canada, it's usually 8-12 cents less. I spend 5k in gas every year. Pays for my membership 3x over.
40 cents a gallon cheaper for 87 in the Eureka location (usually 25+ cents cheaper)!
for 91, FIFTY cents less!
Its funny how don't even talk about gasoline. In my experience, on average they are 20 cents lower per gallon. For a 15 gallon tank for most cars, that's $3 in savings per visit. That makes up my $60 membership fee per year right there. Everything else is gravy.
" Members are fiercely loyal" ouch so true
I clicked on this video just to leave a comment about how much i appreciate Costco. I don't need to watch the video to see why Costco has been incredibly successful LOL
My Dad and I were members #99 and #100 in Seattle when Costco opened, it was funny because back then everyone in line was giving each other nods and smiles like "Ain't we smart".
If Costco doesn’t have it, you don’t need it.
I agree! Except for Lysol.
You're mostly right, but tell that to plus size folks and people with ethnic hair. They'll disagree! hahahahaha
@@raineetoneme Every time I wanted something and couldn't find it in costco - I'd tell someone or write it down and turn it in to the suggestions box and I'd find it soon after. Products for curly hair and larger clothing sizes are both available at my costco.
I can think of plenty of things I need that aren't in costco stores.
Giant mech suits for example 😋
@Big brother Is watching you yeah I get that money back due to its products being cheaper anywhere else.
One of the smartest things there is to make the costumers happy taking care of the employees. Mmmm this is like Ritz Carlton Motto. I love that.
The hotdogs for 1.50$ really hits the spot :)
I miss the Polish. It's been over 10 years.
The comments have convinced me to get a membership even though I’m single. 3 lb boxes of cereal, here I come.
Unless they are Mini-Wheats, then it's 70oz.!
I also bought a membership when I was single and still have one today, 8 years later. Nobody has mentioned this but I notice that a lot of stuff at Costco is twice the quantity for twice the price. But overall, it's a great company!
@@dondark6423 Oh great! Jokhar Hussein OBiden and his dangerous socialist ideas will end retail giants like this one! #SocialismFailsEverywhereItsTried
When you get a partner, you can add him/her to your membership at no extra charge. Up to 2 ppl per membership fee.
Lol... RIP to the roof of your mouth.
Bruh I got a costco card when I was 20. Being a student and being able to bulk buy Ramen noodles and cheap food meant I spent less time shopping and more time getting my degree
Who cares?
imagine having that mentality
hahaha am a broke college student. I eat ramen noodles all day, every day.
A pack of eggs which is far healthier with the ability to feed for 3 meals a day, meal prep with chicken breast and rice is an alt option.
@@----------------------------- lmao ramen is less that 60c each u can’t beat that
You might have a degree but die a few years too early eating unhealthy food
What does “bruh” mean?
Honestly, Amazon can never beat Costco… it’s just things you want but in bulk. I have an executive membership card and the reward ever year is over $60 so it basically half of the membership lol
Amazon lets your order in bulk if you have a free business account with them.
@@stafonvoncamron That’s true but Costco will always be cheaper. What is cheaper than shipping things to your home from a warehouse? Getting people to pay to go to the warehouse and get the things themselves.
We just LOVE Costco and have been members since price club opened. Executive membership always free every year since we spend as much as we can at their stores. Always a fun experience shopping there.
I love Costco. Going there is a cultural experience. The experience can never be repeated online.
Same thing with getting gas ⛽️ 🚘
OMG YESS
Cultural experience???
@@ecognitio9605 Yes Costco has a special culture, which is shared by Costco's employees and fellow shoppers alike.
Go to a Costco Business Center - it was a very interesting experience as well!
Lol trying to imply Costco is in trouble. They were the most organized retailer and safest place to grocery shop during lockdown. Many stores were maxed out for months.
Every company has weaknesses. Costco's weakness is e-commerce and average member age
Seth Powell yep, for now I still lean to Amazon for online purchases.
I’ve been cutting down purchases from Amazon to once a month, but Costco and other brick and mortar retailers need to step up their game if they want my online purchases. Amazon is way too good.
LeGrandFromage you realize Costco has a strong online shopping service.
@@SethPowell7 not really amazon is really expensive for many stuff probably most expensive for most stuff i buy
Exactly, they can form whatever narrative they want by omitting facts or implying statements.
I'm in Canada and while I cannot justify shopping at Costco because I live alone and I hate buying huge quantities just for myself, but it is worth it when you have a family and it's a great company.
I used to be a bread stocker at Costco, and yes I can confirm it is definitely one of the best retailers I’ve worked at, with Walmart being the absolute worst
If Kirkland was it's own company it would have $50 billion in sales... damn
That's crazy. That's more sales than some companies out there at a pre-revenue value.
Days with DayVids estimates put Kirkland alone at a $75 billion valuation. Half the current Costco market cap.
@@cjezinne That's steep for sure. I think most of my friends shop for that brand. Stores brands ftw and cost savings!
If "Airpods" was its own company it would have close to 10B in revenue.
Kirkland is costco
This is the longest Costco ad I’ve ever seen
*deliberately seen
Well, to be fair, Costco wasn't directly involved in this video. In the begginning, they said Costco denied to make comment on this story.
rachelle2227 it’s still a sort of advertisement
@@whatever5922 No it is not. It is like arguing that criticizing someone in an article is an ad.
Journalism is a word in case you didn't know
These comments are getting old
I've watched many videos about Costco over the years. This one is the best by far! I've been a member since 1985 (the Price Club back then), and this video gives great insight into the history of the company in addition to explaining how and why it grew over the years to a membership only store whose members are very loyal (me included!). Yes, I shop at BJs and Sam's Club for various items that either Costco doesn't sell at the time I need them (like a mattress in December), or the store is more convenient (my mother lives in a town with a BJs but the Costco is at least a 1/2 hour away.) With all that said Costco is my favorite. Our shopping there is close to 70% Kirkland Signature. The brand never disappoints!
I love Costco! I was able to get an eye exam and new contact lenses/glasses when I had no health insurance! Not to mention all the great values and deals they have! Plus they have the BEST bakery! I can only eat pumpkin pie from Costco aha
Took a family trip to Mexico last year and one of the most memorable experiences from that vacation was to visit a Costco in Cabo. I’ve also had friends who’ve traveled to Taiwan and went to Costco there
When I went to Hawaii for vacation I had the same experience. Going to Costco and getting one of those huge slices of cheese pizza was part of the vacation
I did the same in Vancouver Canada. And interestingly.. I could get some US dollars exchanged into canadian dollars and coins with no exchange fee.. Plus the parking was free. And interesstingly they also had a $1.50 (canadian dollars) deal for a hot dog and a soda there too.. And that turned out to be a pretty good deal because of the excange rate. And interestingly, they also had road shows up there too.. And it was interesting to strike up conversations with people in the food court. I had an interest in what the canadian health insurance is really like for canadians. And for some of whom who have never left Canada. The responses were very interesting.
I visited Costco in Tokyo and Hiroshima last year. They have Bulgogi bake instead of chicken bake there and they line up for samples in an orderly manner.
@@macheezm0 mmmm, bulgogi!
I also look forward to visiting regional Costco especially when I go overseas!
Being a single dude, Costco has become an intrinsic part of my life. I buy almost everything there: food, protein powder, appliances. Their executive membership paired with their credit card gives me back more than my $120 membership fee.
I used to have a membership. All those subscription fees. Caused me to lose opportunity in basic investing. Plus it was when I went shopping with coworkers. Even if I lived near one. I would not renew it. I have a car and can drive to one. The time, logistics, etc. Says it is better to buy local. Or failing that. A local major grocery store near me.
@@jamesedwards3923 Whatever works for you is what's best. For me, I spend far less buying monthly at Costco than a regular grocery store. For small things, however, I tend to buy local if I can as well.
1000%
My roommate and I are both single and in our 20's. We have the household membership and save lots of money. It easily pays for itself especially since buying in bulk keeps us set for a good while and it's right down the road from us. I buy beef, chicken, eggs, protein powder, fruits & veggies. It's easy to impulse-buy because of all the stuff they have but if you go in with a purpose each time you'll mostly stick to the essentials.
Yes, we are a Costco family. I always love going there if only to eat the free samples! But we have gotten a few good deals on big ticket items from Costco such as an HDTV back in 2009 and more recently, a sectional sofa for less than $1000. But we mostly buy food like organic produce and even those croissants from the bakery section.
Not surprised that there are lines and lines at Costco. New Zealand just opened their first one and I know people driving hours to go there!
Buying in bulk was perfect for us when we joined Price Club in the 80's. We lived in a rural area and traveled 500 miles round trip once a month or two to get a truckload of groceries. There are other options much closer today like Sams but we still prefer the longer trip to Costco for better quality and items we cant get elsewhere.
And they're cheaper too when you buy at bulk.
You travel 500 miles to go shopping? Lol
Lots of valid points made about Costco...everything from going to its gas station, then its warehouse, then its food court on the way out. Can't beat its $1.50 hot dog & soda combo, & $1.99 pizza slice. And the moment the Chicken Bake is back on the menu post-pandemic, I'm getting one right away.
I work at Costco food Court and it is a really fast pace environment when you got a line of hungry customers that can't wait for there food
It was never taken of the menu for my local one. Did you check recently?
In India you can get a full size cheese burst pizza at $1.99😂
@deee dawwwggg How does someone make hot dogs out of a cow udder
Costco no doubt has done a good job. Having the premium memberships at both. We had alway purchased more at Costco until the Pandemic hit and since April 2020 we haven’t spent a dime at Costco. Sam’s has earned our business because of Curbside pickup and there on line ordering and Free shipping. They bragged about how Costco cares about their members sure you can order online pay a premium price over in- store prices then pay extra for Shipping. There are very few items we miss by not shopping at Costco and as to quality of product they are equal. In my opinion Costco isn’t to interested in the 65+ crowd as evident by their none support in keeping senior safe and shopping out of the store convenient and not price gouging for that service.
Costco system works so well that now that I live in Portugal and I found out is one in Seville, Spain (2 hours away), guess what, I already went to the store and odd part, once you inside the store you don't know in which country you are, everything inside resembles the US stores even the bathroom locations are the same. Costco's experience almost resembles an addiction. My two cents.
I LOVE COSTCO. They treat workers well, which is so rare these days. And the better treatment of workers is definitely reflected on the customer's experience. Never ever ever had a bad experience shopping at Costco :D
Also i love love love the Kirkland brand. I can always buy anything Kirkland and I know I'm getting the best value for the quality of the product. Their toilet paper is amazing too. And their food courts. I can go on and on
The main advantage Costco has over other retailers and even e-commerce: their entire existence revolves around making you happy so you renew your membership. They have 90% renewal rates compared to measly 50-60% for other subscription services. They only focus on making you happy, and to do that, they treat their employees well (Costco employees are often twice as productive than Walmart/Target employees). Whereas Amazon ruthlessly sacrifices their employees to lower operating costs (they often lose money on shipping costs for Prime members), Costco gets their upfront payment and use the money you spend on products to keep you coming back, whether it be paying employees or just to break even on their operating costs.
nothing says this more than their return policy, they take almost anything back no questions asked
@@jasonleman1396 - I once returned an avocado oil that I had it for over 3 months. I tried to open but the sealed broke, so I returned it without any receipt. They took it back, no question asked.
Big large Pizza for 10 bucks.. Costco knows what they are doing.. and that pizza is great!
Amazing pizza
There pizza is legendary 😋
you seem like someone i'd like to get married to
A M SIMP
@@thetechdude1 I know
The free samples alone makes me and the kids happy haha
I see my $60 membership fee as as an Annual Pass to the food court 🤤
I thought u didn’t need membership to visit food court.
Some Costco’s have the food court outside of the store.
They need to bring back the supreme pizza, it was the only thing I bought at the food court
I don't use my membership to get to food court I just walk in where costumer service is and main reason I get the membership is because its the cheapest gas station out of all gas stations in my city
You don’t need a membership for food court
Best to bring in your umm own high grade plastic utensils than the flimsy ones they have available at the food court.
No one beats Costco’s return policy
No trader joes is the best return policy. Even if the package is opened and you tell them you didn’t like the item, then will pay you back
@@tyrajones9255 That's because they sell it back. And all what they have is stolen from third world countries for free.
@@samlsd9711 Dear good there are law sam come on how do you even think that's true.
I remember returning a turkey once because My oven broke and I could not cook it. Got it returned with no questions asked. Lol.
Pizza Hut does.
Loving these documentaries, have em running in the background. Been going through them all
I love you Costco! Best wishes from SOUTH Korea!
I enjoy going to Costco for the experience and the quality of choice, plus I like supporting companies that don't subscribe to the idiotic notion that the only way to make money is to shaft the employee as much as possible
Keep those hot dogs coming and I’ll keep shopping.
Hot dogs cause hypertension and other illnesses.
@@lamontjohnson5810 Among 10,000 other things.......
I believe it was a CEO of Costco who said the price of the Hot Dog and soda combo will never go above a $1.50 (or £1.50 in the UK) while he is there. Happy days!
@@lamontjohnson5810 so? its a cheap hotdog!
@@mylastaltsrrsly5967 sold at a loss.
Costco isn’t my primary grocery store. But it’s fabulous for a few useful things and IMO worth being a member if there’s a store or two nearby. Something about Costco which does make it appealing for young people is that you can get 2 memberships per household (not family). So if you live with another single person, you can have one person payback half the membership fee so you both get a Costco card at the price of one membership.
They also have the best return policy thanks to their database. My dad traveled all the time for work and had a Costco suitcase with a 10 year warranty. It failed on year 10 (which is really good because his earlier suitcases typically only were good for about a year with all the traveling). Anyway, they were able to find the one he purchased 10 years earlier on their database and replace it for no charge. No receipt necessary.
A couple years ago they even refunded people’s cut Christmas trees in January before eventually deciding that that was too generous and easy for people just trying to lie for a free tree. 😅
I'm single. I've had the Executive membership for over 20 years and have never felt it wasn't a good deal. Just in gas alone I save the amount of my membership. Plus the quality of their products are excellent. Kirkland albacore is the best I've ever eaten. The freshly made chicken salad is wonderful as well. Simply put, I LOVE COSTCO.
can count on Costco to not raise prices of soap when a virus hits
And you can buy 50lbs of it, too 😂
Straight up Amazon and Walmart raised prices on covid related items at a point
@Arthur Ashy Amazon and Walmart could’ve controlled it.
@Arthur Ashy but they did regulate them once they got criticism lol it’s funny
@Arthur Ashy ....I've actually begun to avoid Walmart online bec of the number of third party sellers gouging on price, shipping or both---on cosmetics and other non essential, non Covid related items. Walmart is screwing up by upcharging for shipped items vs. buying in store, and no longer even offering my preferred generic nasal spray online---so, I bought it from Rite Aid instead.
Costco’s laptop insurance & concierge service are worth it alone.
I saved about $800 on my laptop buying it from Costco.
i bought a USB power supply.. at a pretty good price.. and i knew it was backed by Costco.. sadly, the power supply started to act funny and started to smoke.. I think it had some kind of short inside.. I took it back to costco for a full refund.. I was thankful to Costco for that. What is nice also.. is because it is a membership based.. they can keep track of all purchases.. and if you lost your receipt or the receipt was destroyed.. they can still help you with a return refund on a product. You just need to show them you costco ID Card and they can find it for you in their database.
M A#np imagine being thankful to a company for doing what it’s supposed to do, providing support. That speaks volume about the garbage service that people normally receive elsewhere.
@@manp1039 My wife took back a recliner that she''d bought 3 years prior because it started to fall apart and the "leather" was staining. No questions asked and they did dig out the receipt.
@@manp1039 - Yep, don't need your receipt to return an item(s). They never asked for my receipt when I return something. The refund would be credited back to my credit card.
Here is a story that came to my mind after watching this video..
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Warren Buffett once said "if you don't find a way to make money while you sleep, you will work until you die".
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Reach her on telegram with the username above.
Costco is one of the last memberships I would cut
Not until I cut all my charitable donations, which hound me all year for more and more and more. Save the whales, save the elephants, save the birds, every species on earth must share the same mailing list. And the world is full of starving children, children and grandchildren of all the children I was urged to save fifty years ago.
@@r_1901 Its about looting the money and keeping 95% of it in their own bank accounts. Never donate money to anything.
That China traffic jam thing happened here in India when IKEA opened their first outlet in India (in Hyderabad to be specific) two years ago. People flocked to IKEA like crazy. They were getting more than 40k people in the stores on a daily basis for the first couple of months.
There was a mini riot on the opening day at their store in Edmonton North London England
I have been a price club & Costco member since 1977. What keeps me renewing? The HIGH quality at very good prices.
Kirkland is actually a very popular brand in China as many grey market exporters sell in online and in stores in HK and China. I saw 2 stores in HK that basically just resold Kirkland brand items. I met folks in 3rd tier cities who asked why Costco hadn’t open stores in China like other western brands 5-6 years ago. It wasn’t a surprise to see the SH store mobbed.
What are third tier cities @elonmusk542?
I’m glad there’s a Costco in my hometown.
Shopping at Costco is an experience! I enjoy every time I shop
Costco is evil.
@@lamontjohnson5810 oh why is that ?
Why I keep my Costco membership?
-Maan, those paper towels... Can't switch back to any other brand.
You're demon-possessed.
@@lamontjohnson5810 funny how one of your recent comments is ‘people don’t know how to do anything constructive with their time’ on a video about TikTok when you’re here copy pasting the same reply to every comment..
I actually work for the company that manufactures the paper towels for Costco. Let me tel you, it’s not just Costco they manufacture for.
@@maindave1 this is usually how store brands work.
I just keep thinking, “Welcome to Costco. I love you.”
Very good docu! Thank you👍
my membership will be one of the last things I give up
Jesus should be.
Costco is shopping pioneer. I have been member for almost 3 decades and never have a second impulse to leave it. As long as they have $1.50 hot dog and lowest price gas and my annual membership fee always paid.
dont eat hot dogs, gas OK..
I live in the greater San Diego area, and shopped in the original Price Club store. I still maintain my Costco membership, although my visits became much less frequent after COVID-19 made its appearance. As an aging widower, I don’t buy as much at Costco as I once did, but they still have things I can’t find anywhere else.
The big plus is that it’s simply clean and free of the homeless and crazies. I pay to shop in tranquility, thank you Costco!
Also Costco has just one-tenth the "shrinkage" (shoplifting) of competing retailers.
great comment i feel the same
@@r_1901 because nothing in Costco fits under a jacket. Except maybe those 3 lb bags of coffee, LOL
I am fortunate to have a Costco about 4 miles away. That means we use it to buy gasoline. Ill stop in and buy the famous $5 rotisserie chicken on the way home. I also buy my pet products there. There teeth cleaning chews are less expensive than Greenies and they are grain free. Greenies charges more for their grain free dental chews. And the vets always say something about how clean my 10 year old Corgis' teeth are.
The quantities can be a problem but almost everything freezes well. They have great muffins and breads. With just two of us here anymore we are careful to buy what freezes well. There are interesting and tasty stuff in the back of the store. My wife takes their ravioli casserole to family functions and it gets eaten. She's even asked to bring it. The macaroni and cheese casserole is a hit too. I buy these oddly cut pieces of what is really filet mignon and use it for everything instead of cheaper tougher meats for Goulash or Stroganov. Or slice it really thin and make cheese steak sandwiches.
It's a shame that the food court had to be decimated. I always took a Churro with me on the way out.
I've done the numbers and $60 membership fee works for us because of the quantity of items we use from Costco. I bought my last laptop there and their tech support was very helpful in helping me clear out some junk people had put on it when it was a display item. I just purchased tires too. I also get about $1000 a year back from the credit card. Since I pay it off monthly and don't pay interest that's like a bonus.
The club's not for everyone but for us it works well. It's too bad it wasn't around when my mother was feeding eight kids.
Nothing beats shopping in person. Especially, when shopping for food.
Living on an island (Hawaii), Costco (& Amazon) is like a a godsend, since its prices are much lower than typical grocery stores (most of everything needs to be imported here). One of the Costcos here was named the Busiest Costco in the World.
I have been satisfied with Costco in the way they treat their employees and customers. Whenever I have been on a road trip I look for all of the Costco's along the way to buy my fuel and get a bite to eat or even shop a bit. Many of the Costco's also have Teamsters Union Representation whereas Walmart will even close down a store to keep the Union's out. I was a member of the Teamsters when I lived in Washington and they were good for both the employees and the business because they had lower health care cost than the business could purchase on their own. I have been a member of Costco since 1988 and shopped at the first store in Kirkland Washington. I just wish they would put a store in Porterville CA. I have to travel to Visalia to get to the nearest Costco but it pays for the trip because Costco's fuel is 50 cents cheaper per gallon and I don't have to pay a surcharge to use my Costco VISA. I have always appreciated the quality and the lower costs of the products.
I knew that once Costco dropped American Express and took Visa payments that their stocks would go through the roof! Even with their $60 annual fees, I was able to save hundreds of dollars per year by stocking up on my favorite items whenever they’re on sales- which covered the annual fee. Costco made hoarders like myself looked sane during the pandemic rush when I didn’t have to panic buy anything because I was well stocked.
Well, I guess I'll switch from Sam's to Costco tomorrow... this video convinced me. Customer service at Sam's is horrible. Huge attitudes.
Costco computer tech support answer the phone until 10pm and resolved my queries quickly. I love thier vitamins selection and Christmas specially foods
Sams club is Walmart but for members only
My parents loved Costco i used to go with them as a teenager. I wish I could go back to that time.
My survey of local grocery outlets here in the Pacific Northwest showed Costco unit prices to be in the middle of the pack, and that was without considering the membership fees. That sure surprised me. I guess the feeling of buying in bulk gives most folks a sense of saving.
the savings on gas alone for me already paid off that $60 a year. The grocery savings is just bonus.
That's what I always say. Most idiots can't seem to figure that out.
Honestly, until they put a store in my commute path, I hadn't really considered Costco, it would just be out of my way so not really worthwhile. However, even after working from home, shopping there and determining where I save substantial money, I can still justify the trip and the membership fees. There's always stuff that's cheaper at other stores, and I buy those items there, but Costco still offers me considerable value.
easily
I've been working there since May. I'm a senior in College & this is my 3rd retail job. It does not feel like I'm working retail at all. My workload is manageable & almost always stress free. I'm never running around doing 100 things at once. All of the work is streamlined perfectly.
Didn't expect the last name of the person who founded Price club to literally be Price, what a fitting name
I worked as a wholesaler for a number of years. Knowing where
These companies get their merchandise can be a big plus.
I save a lot with Costco. I compared them to Kroger/Safeway/Etc that I was shopping and I realized I save way more buying bulk and deep freezing.
How does it compare to Coles, Woolies or Aldi?
@@rick_terscale1111 I have both an Aldi's and Lidl within two miles and I use them certain items, especially foreign items. Biggest selection of Bratwurst and sausages I've ever seen. I keep their bags in my car along with a quarter for the cart at Aldi's. I read that there were two Aldi's in Germany. One of them became Trader Joes.
I love Kirkland products. Most of the stuff I try is awesome.
Whoever sources their products really knows what they’re doing. The prepared foods/meats/bakery stuff you can’t find anywhere else.
yoked1234 their Kirkland products are often times just as good as the name brand stuff and there are times when Kirkland brand is actually better than the name ones. I love it lol
@@miguelrobb5719 The name brand corporations package the same product but just put a Kirkland sticker on it.
They put crack in all their Kirkland products, which is why you get addicted.
I will be highly loyal to Costco because: 1) they treat their employees well, 2) they offer excellent value to customers, and 3) they intentionally and defiantly keep their prices low.
My wife says I should get a "Kirkland" tatoo
Hahahaha
As a 14 year old I should get one when I am older
@@gabrielantos4144 just tattoo my Costco card on my arm lol
In Australia, Costco is the only place has toilet paper in stock earlier this year.
@Kh2 ESP I'm Chinese btw.
I
I have been shopping there since there was Price Club and Costco owned by the same brothers in the early 80s.
Its not just Costco that is massive, its the people who go there are massive themselves!
Costco and Trader Joe’s are the two places I shop most often. Costco weekly, Trader Joe’s monthly. Most other grocery stores only about once every other month, if that
Try Aldi, an offshoot of TJ.
M V I’ve been there once and liked it. Unfortunately, the closest to me is 45 min away
Totally agree.
Costco weekly...damn
Royale with cheese We shop at Costco weekly too and spend about $200 each time on average. Our membership ends up being free because of it.
You know you're getting old when they show Fedco in black and white pics and you shopped there as a kid.
Dinosaur
Mate you are not getting old, you are old
I shop at Costco, I’m in the Greater LA area, I went to Fedco with my parents from as young as I can remember. I do like Costco don’t get me wrong, but it is certainly not the same feel as Fedco.. Those of you who know Fedco probably remember that membership was like $10 for a lifetime membership. I really thought Fedco Could have stayed alive even with Costco if Fedco had charged a membership of like $10 or $20 a year. I think most Fedco Shoppers would have paid that. I would have kept my Fedco membership and had my Costco as well. For those who do not know Fedco, it was not by in bulk. It was more like target for example rather than Costco. Ironically, many of the Fedco locations were sold to target and they took them over as their stores.
If any of the people who commented about Fedco see this, which Fedco was the main one you shopped at? Mine was Van Nuys, although a few times if they didn’t have an item we were looking for we would see if the Pasadena store had it, and instead of having them ship it to Van Nuys we would drive over to Pasadena and get it.
Fedco had a lot fewer stores than Costco and they were all in Southern California. But when I went into a Costco for the first time I really thought that the essence of Fedco was there, even with Walmart. From what we said in this documentary, it seemed like Fedco was A direct or indirect ancestor of these places.
When I was a kid in the 1960s and 1970s, we wouldn’t think of doing shopping for toiletries etc. at any place other than Fedco.
Costco is great, but it isn’t the same as Fedco!!
Costco has saved me so much money!
As a single mother of 2 ever growing boys I need stock for them and Costco is it
I have a Costco near my house, and i ended up going there more during the pandemic than before.
It's the perfect store for a lockdown, you have everything in big quantities. You can go there and do your normal errands, but everything you take in normal, you'll find there but in bigger quantities.
Then you don't have to go to errands for 2/3 weeks.
There's also the fact that this is a big warehouse, like Home Depot. Social distanciation is much easier than in a normal store, and there is less people in a Costco
I went there more frequently, and on regular stores less frequently
The one thing Amazon can't touch - Costco Gas!
I would have died out of boredom if not for CNBC CZcams Channel during this pandemic. You guys are my sunshine.
Oh dang, I finally learned what SKU stands for
I'm a San Diego resident and life long Price Club member. Heck, we still called it Price Club for ten years after they merged. The first Price Club shown in the video is now a Costco and the store we go to most.
COSTCO is actually loved by its members except the competition ..
Costco has brainwashed you people.
What’s with the smooth brained conspiracy theorists in the comments
@@eerieaudio Apparently having to pay $60/year ($5/month) for a better and cheaper experience along with the knowledge employees are being treated like humans, is an *EVIL* and Orwellian concept. Or they just wanted attention and failed (I mean he's called Big Brother and is calling us sheep lol).
Costco supplies me with gas, home insurance,car insurance, computers and smart phones,, glasses ( prescription trifocals,sunglasses,reading glasses, computer glasses, driving glasses) tires, medical prescription and books - just to start . The prices for all these items are cheaper and better than you find anywhere else. And I haven't mention my yearly rebate from my Costco credit card (paid off monthly) and the 2% from costco spending. When i renovate my home I'll be looking at appliances,including heating and air conditioner systems. Oh , and they have gardening and furniture. This is all before mentioning buying food and loving kirkland brand items. Most customers feel as i do. Oh, I forgot the best clothing.