PSA - Costco memberships to increase in June.....?

Skiddymarker

Just heard that the memberships are going up, $5 for Gold Star and $10 for executive. Will take effect in June. First increase in a long, long time as I recall. 

Eggcelsior

Yeah. The last increase from 50/100 to 55/110 was 15 years ago or so. They will still be paying me to shop there, so "meh" is the best I can muster.

EDIT: Check that, the last bump was in 2011. I thought it had happened when I still worked there. The one previous to that was in the late 90s, I believe.

Dobie

It's worth it. 

ToTheMax

Again? They just increased it in recent years!

Eh... I guess I'll shell out more money. My executive check is usually about $120-$160, so it'll cover the full membership anyways.

Thanks for the PSA.

The_Stache

Increase is already in effect for any new memberships!

Skiddymarker

The_Stache said:

Increase is already in effect for any new memberships!

Did not know that.....mine is due this month, will log on and see what they charge - my invoice says$110 - but even at $120 it is OK with me.
As @ToTheMax says - Executive cheque this year paid for the membership, in my case it was well over $200. 

OhioEgger

Don't spend enough there to justify the Exec membership, but plenty to benefit from the regular. I'll pay with no complaints.

ToTheMax

OhioEgger said:

Don't spend enough there to justify the Exec membership, but plenty to benefit from the regular. I'll pay with no complaints.

One of the features of the exec that many people don't know about, is if you don't get your full refund ($55, well now $60) at the time of your membership renewal; you go to the customer service desk and they'll credit you the difference.

So you never lose money, worst case you break even, best case you make money.

Killit_and_Grillit

@ToTheMax that's what I was thinking. I use mine for our house as well as our church for bi weekly meetings to feed a Veterans group so I spend a small fortune there and my check back always covers the membership. 

Can you even find anything in Costco that is less than $10 (besides a slice of pizza and a hot dog?)

Skiddymarker

@Killit_and_Grillit - lots of stuff for under $10, but they sure add up quickly. SWMBO calls it the $200 store, every time we go in, it costs us $200 to get out!

Acn

Skiddymarker said:

@Killit_and_Grillit - lots of stuff for under $10, but they sure add up quickly. SWMBO calls it the $200 store, every time we go in, it costs us $200 to get out!

More often than not we're excited to get out of Costco for $200.  

Hoping that we get one down the street from Wegmans, where they're tearing down an old mall.  It would be much better than another Walmart super center.

Killit_and_Grillit

@Skiddymarker @Acn At least. And GFS is next door to ours so they usually get me twice!

Skiddymarker

Killit_and_Grillit said:

@Skiddymarker @Acn At least. And GFS is next door to ours so they usually get me twice!

Speaking of GFS (Gordon Food Services here) buddy is the chef at a local pub/restaurant and he has me hooked on the 10# boxes of Pacific 16-24 size shrimp. He buys thru the pub and delivers to y door, just like Amazon. Would be about $5US/pound. I keep telling him he is worse than the local meth dealer. 

Skiddymarker

Acn said:

Skiddymarker said:

@Killit_and_Grillit - lots of stuff for under $10, but they sure add up quickly. SWMBO calls it the $200 store, every time we go in, it costs us $200 to get out!

More often than not we're excited to get out of Costco for $200.  

Hoping that we get one down the street from Wegmans, where they're tearing down an old mall.  It would be much better than another Walmart super center.

It is a tough spot not to impulse shop - we keep both the one in Bellingham WA and our local Surrey wharehouse in business. It is a dirty job, but someone has to do it. 

DoubleEgger

For an extra $5, those bastards need to start carrying packers.

Skiddymarker

DoubleEgger said:

For an extra $5, those bastards need to start carrying packers.

Amazing that the Bellingham WA Costco has Prime packers, <$3US/pound. Our Canadian Costco has nothing that even looks like brisket, no flats, no points, no nothing. Have one in the freezer now, thanks for reminding me, need to take out to thaw for next week...

DoubleEgger

Skiddymarker said:

DoubleEgger said:

For an extra $5, those bastards need to start carrying packers.

Amazing that the Bellingham WA Costco has Prime packers, <$3US/pound. Our Canadian Costco has nothing that even looks like brisket, no flats, no points, no nothing. Have one in the freezer now, thanks for reminding me, need to take out to thaw for next week...

Georgia Costcos can't even spell brisket...

GregW

Heard on the radio when they were discussing the price increase, they said 70% of Costco's profit was from membership fees. They also said Costco was feeling pressure from Amazon Prime.
I don't currently have a Costco card, The only store in the area is 30 minutes from my home. When I had a card I liked using it.....perhaps too much.

Skiddymarker

DoubleEgger said:

For an extra $5, those bastards need to start carrying packers.

Was reading back some comments to SWMBO, when I read your statement, she said with a straight face "Really? We have packers at our Costco". She was talking about the guy or gal that puts your stuff in the grocery cart/buggy.....

Skiddymarker

GregW said:

Heard on the radio when they were discussing the price increase, they said 70% of Costco's profit was from membership fees. They also said Costco was feeling pressure from Amazon Prime.
I don't currently have a Costco card, The only store in the area is 30 minutes from my home. When I had a card I liked using it.....perhaps too much.

Amazon Prime in Canada is only $80CDN/year ($60US). The selection is much smaller but living in the Vancouver area, I can get same day delivery on Prime eligible items - so I can see Amazon hurting Costco's business. Loving the Prime Video, some good oldies and new shows. 

paqman

Skiddymarker said:

@Killit_and_Grillit - lots of stuff for under $10, but they sure add up quickly. SWMBO calls it the $200 store, every time we go in, it costs us $200 to get out!

Lucky you, around here it's the 400$ store....

Skiddymarker

paqman said:

Skiddymarker said:

@Killit_and_Grillit - lots of stuff for under $10, but they sure add up quickly. SWMBO calls it the $200 store, every time we go in, it costs us $200 to get out!

Lucky you, around here it's the 400$ store....

True, but I spend $200 in the Surrey BC store, then $200 in the Bellingham WA store, sometimes in the same week, so given the exchange I'm guessing it is the $460CDN store!

caliking

Total check from executive and Costco visa rewards was about $650 this year. I think I'm still shopping there.

Eggcelsior

caliking said:

Total check from executive and Costco visa rewards was about $650 this year. I think I'm still shopping there.

Are you my dad? 

You need to try harder too. The limit for cash back is being raised from 750 to 1k.

HofstraJet

ToTheMax said:

OhioEgger said:

Don't spend enough there to justify the Exec membership, but plenty to benefit from the regular. I'll pay with no complaints.

One of the features of the exec that many people don't know about, is if you don't get your full refund ($55, well now $60) at the time of your membership renewal; you go to the customer service desk and they'll credit you the difference.

So you never lose money, worst case you break even, best case you make money.

I never knew this. Was planning to cancel because we just don't go there that often anymore. Googled this and it seems they stopped doing it last year. Anyone have any solid data on whether they still provide the refund?

Skiddymarker

It is my understanding that an Executive membership is refundable in full at any time if you are dissatisfied with the service.

Risk-Free 100% Satisfaction Guarantee

• On Membership: We will cancel and refund your membership fee in full at any time if you are dissatisfied.

@HofstraJet may be onto something - The only way to get the real answer is to visit a wharehouse and ask...you would have to do that to cancel anyway. 

ToTheMax

HofstraJet said:

ToTheMax said:

OhioEgger said:

Don't spend enough there to justify the Exec membership, but plenty to benefit from the regular. I'll pay with no complaints.

One of the features of the exec that many people don't know about, is if you don't get your full refund ($55, well now $60) at the time of your membership renewal; you go to the customer service desk and they'll credit you the difference.

So you never lose money, worst case you break even, best case you make money.

I never knew this. Was planning to cancel because we just don't go there that often anymore. Googled this and it seems they stopped doing it last year. Anyone have any solid data on whether they still provide the refund?

My friend signed up a few months ago and conformed the still do this. So if they did cancel it, it's definitely not last year, but more recent.

jak7028

GregW said:

Heard on the radio when they were discussing the price increase, they said 70% of Costco's profit was from membership fees. They also said Costco was feeling pressure from Amazon Prime.
I don't currently have a Costco card, The only store in the area is 30 minutes from my home. When I had a card I liked using it.....perhaps too much.

They are open about their business model.  Essentially, they run their stores to barely make a profit or break even.  The membership money is their profit.  

They pretty much do a flat 15% markup across the board.  So your commodity type items are usually not as competitively priced, but your more specialty type items that have a higher markup at grocery stores, are great deals at costco.   

There was a headline on of the news sites saying costco shoppers will be hit hard "HUGE INCREASE COMING...."  It is $5 on a regular membership.  Talk about being desperate to get people to click on a misleading link to generate traffic to your website.

Skiddymarker

jak7028 said:

There was a headline on of the news sites saying costco shoppers will be hit hard "HUGE INCREASE COMING...."  It is $5 on a regular membership.  Talk about being desperate to get people to click on a misleading link to generate traffic to your website.

On one hand I can understand the media click bait, a just under 10% increase is pretty substantial in the retail world. On the other hand when you consider it is the first adjustment in over 6 or 7 years, suddenly it does not seem so bad. It would be interesting to know if the news coverage you saw/note covered the full topic. 

HofstraJet

To be clear, I was asking about a refund of the difference between regular membership and executive membership if you don't make that back with the check. I know that Costco will refund membership cost at any time if you cancel - the executive differential refund is what wasn't clear. Thanks!

Skiddymarker

Understood completely, thanks for the clarification....