402065 08: A shopper displays her Costco Wholesale membership card as she enters a Costco Wholesale store March 8, 2002 in Niles, IL. Warehouse retailer Costco Wholesale Corp. has reported higher quarterly profits as the promise of bulk goods at bargain prices resonated with consumers in the U.S. recession. Warehouse retailers charge customers an annual membership fee, typically $35 to $45, to shop at clubs that offer deep discounts on bulk quantities of items like food and household cleaners. (Photo by Tim Boyle/Getty Images)
Costco Memberships Should Be Getting More Expensive, But They're Not (Yet)
By David Tran
Costco has over 850 locations around the world, and for many, it’s a one-stop shop, because you can find anything in bulk from electronics to fresh produce. While it is beloved for its discounted prices, membership prices start at a hefty $60, but it may be time to consider getting a membership before that price increases.
In a recent meeting with investors, Costco Chief Financial Officer Richard Galanti hinted the price of a Costco membership is expected to increase. For now, it will remain the same, but Costco typically jacks up the price of its Gold Star membership every five years, with the last increase being in 2017.
Regardless of the expected price increase, people are still signing up, with the membership number being more than 68 million. Costco is also able to retain a huge majority of its members, with a renewal rate of 90%, and 45% of Costco members holding $120 executive memberships.