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Costco raising membership fee for the first time in years - but hot dog price remains (www.independent.co.uk)

submitted 1 month ago by jimmydoreisalefty@lemmy.world to c/costco@lemmy.world

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The membership increase, set for September 1, 2024, will impact around 52 million memberships, a little over half of which are on the “Executive” plan.

The annual US and Canada “Gold Star” memberships, Business and Business add-on members will see fees increase by $5. The annual fee for a “Gold Star” member currently sits at $60 plus sales tax, Costco said in an announcement this week.

Higher-tier “Executive” members in the US and Canada will see annual fees increase from $120 to $130. The maximum annual 2 percent reward, associated with the Executive tier, will increase from $1,000 to $1,250.

This is the first membership price hike Costco has announced in seven years.

“To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe,” Costco’s new chief financial officer, Gary Millerchip, said in May.

"I came to [Sinegal] once, and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends.’ And he said, ‘If you raise the ef**** hot dog, I will kill you. Figure it out,” Jelinek recalled in a 2018 presentation, 425 Business reported.

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[-] zhenbo_endle@lemmy.ca 23 points 1 month ago

Old price, you need to spend 3000 annually to meet the break even of executive membership.

After increase, the break even is 3250. Considering the inflation, I think it still worth to keep the executive membership if you visit Costco regularly.

Not sure if Sams will follow this. Maybe Sams would take this chance to attract more members?

[-] skyspydude1@lemmy.world 5 points 1 month ago

Don't forget, you can also request a refund for the price difference between the regular and executive if you don't meet the breakeven point

[-] nnjethro@lemmy.world 1 points 1 month ago

Can you confirm that's still a thing. I seem to remember they stopped that policy years ago.

[-] skyspydude1@lemmy.world 1 points 1 month ago

It's still an option.

https://customerservice.costco.com/app/answers/answer_view/a_id/1008254/~/executive-2%25-reward-faqs

Quoting the site: "To receive a refund for the current Executive upgrade fee, the membership must be canceled or downgraded to a Gold Star or Business Membership. Any 2% Reward issued or accrued will be subtracted from the refund and forfeited to the extent it exceeds the amount of any refund. "

[-] NotMyOldRedditName@lemmy.world 1 points 1 month ago

Starting to cut it close on the 2% rebate

It's $130 CAD now, and my rebate from this year was $152.

I think with the few executive discounts though I saved another $30-40 over the year.

[-] acosmichippo@lemmy.world 11 points 1 month ago* (last edited 1 month ago)

I'd rather they raise the hot dog price a bit than get rid of all the good fixings and switching to fucking Pepsi drinks. the price is the same but inflation is "effing" us anyway.

[-] cm0002@lemmy.world 1 points 1 month ago

Why doesn't costco just doesn't put such things to a membership vote

[-] IsThisAnAI@lemmy.world 19 points 1 month ago

Because listening to customers is stupid 90% of the time.

[-] ccunning@lemmy.world -3 points 1 month ago* (last edited 1 month ago)

I’d rather they keep the $1.50 hotdog and take the money to give employees a raise.

…which they are.

[-] acosmichippo@lemmy.world -5 points 1 month ago

? if they raised the price they could give the employees bigger raises...

[-] randomperson@lemmy.today 11 points 1 month ago

Raise the hotdog price and give me back onions!

[-] wunami@lemmy.world 19 points 1 month ago

You can ask for onions at the counter.
https://www.eatthis.com/costco-food-court-diced-onions/

When it was self service, I've seen people dispensing a ton of onions into ziplock bags presumably to take home.

[-] randomperson@lemmy.today 5 points 1 month ago

I heard about this. But every time I’ve asked, they don’t have any at my area’s Costco.

[-] winkerjadams@lemmy.dbzer0.com 7 points 1 month ago

My Costco got onions back a few months ago

[-] Mostly_Gristle@lemmy.world 3 points 1 month ago

I want the jalapenos they have at the Mexican Costcos.

[-] Zier@fedia.io 1 points 1 month ago

I used to live outside of Seattle and the Costco's out of state are not as good. I can't speak for CA Costco's but I've been to many others and they just don't have the big variety of stuff. Business Centers are super cool though.

[-] Zier@fedia.io 1 points 1 month ago

I want more pizza choices like it used to be. They had the best veggie pizzas in the food court!

[-] model_tar_gz@lemmy.world 1 points 1 month ago* (last edited 1 month ago)

I miss the supreme.

If you miss the expanded pizza toppings offerings they used to have, write an email to rvachris@costco.com. Not only is he the head honcho, but he’s been through all levels of the company, including EVP of merchandising for a time so he has a unique perspective on what Costco’s customers (members) value.

Here’s a template (AI gen’d, but it’s good.):

Subject: Request to Return Supreme Pizza to Costco Food Court

Dear Mr. Vachris:

I hope this message finds you well. I am writing as a loyal Costco member to express my sincere request for the return of the Supreme (and other toppings selections) Pizza to the food court menu across all Costco locations.

The Supreme Pizza has been a favorite for many members, including myself, due to its delicious taste and variety of toppings. Its absence has been greatly missed, and I believe reintroducing it would be highly appreciated by a significant number of members.

Thank you for your consideration, and I look forward to the possibility of enjoying Supreme Pizza at Costco again soon.

Best regards,

[Your Name] [Your Membership Number] [Your Contact Information]

[-] willya@lemmyf.uk 11 points 1 month ago

I like how they bleeped out effin.

[+] Hugh_Jeggs@lemm.ee -20 points 1 month ago

You guys pay to go to a fucking shop?!?! 😂

[-] wreckedcarzz@lemmy.world 15 points 1 month ago* (last edited 1 month ago)

Target: 24pack of 16.9oz water bottles, $5.99

Costco: 40pack of 16.9oz water bottles, $3.99

That's the main thing I get there, but basically all items are on a similar 'more for less' price scale. It's incredibly easy to break even vs other local stores. Their stores are cleaner, the staff nicer, the bakery items (imo) tastier and fresher. They offer groceries, furniture, appliances, clothing, beef, dairy, prescriptions, eyewear, tires, vacation packages, hot food, fuel and washing for your car...

[-] snugglesthefalse@sh.itjust.works 1 points 1 month ago

Why are you buying so many water bottles? Can't you just get a nice one and refill it?

[-] skyspydude1@lemmy.world 6 points 1 month ago

If I'm hosting an outdoor event with a group of people in the middle of summer where there's no easy access to drinking water, I'm not going to count on everyone bringing their own water in sufficient amounts and then have to worry about someone getting severely dehydrated. As much as they suck, sometimes disposables are necessary.

[-] baggachipz@sh.itjust.works 11 points 1 month ago

It’s not just discounted goods, there are many other perks of the membership. For instance, I have a $0 annual fee credit card from them which does a cash back on purchases. Last year, just through regular spending, I received $1200. That alone paid for the membership many times over, not to mention all the other things.

[+] Hugh_Jeggs@lemm.ee -12 points 1 month ago

Ah yes, some billionaire just gave you $1200 at his own expense, with no profit for himself aye

[-] baggachipz@sh.itjust.works 9 points 1 month ago

They make plenty of profit off of me when I shop there. And the credit card company makes profit off me too, by the fees they charge merchants when I use their card. (though none off of balance APR, as I pay it off every month). The net result is that we both benefit from the exchange. This is a mutually-beneficial relationship. Not everything is zero-sum.

[+] Hugh_Jeggs@lemm.ee -6 points 1 month ago

You pay 3% extra to the retailer because the card company charges him 2.5%. The card company gives you back 2%, keeps 0.5% of what you already paid extra, and you bleat about how it's mutually beneficial? Fuck me mate, open your eyes, there's a reason that shit never took off in other countries

[-] baggachipz@sh.itjust.works 4 points 1 month ago

I pay a little extra, but so do you. So if you really want to split hairs, my card situation means I’m taking advantage of you, especially if you don’t use a rewards credit card. But yes, we all pay for credit card fees. I may as well minimize my personal impact from this. That’s the game, nothing we can do about it.

[-] ccunning@lemmy.world 3 points 1 month ago

Very few retailers charge different prices for cash vs credit. As long as they don’t, just pay with credit and get your free money 😝

[-] Hugh_Jeggs@lemm.ee 1 points 1 month ago

Do you honestly not realise they're charging you the credit price even when you pay cash?

It's not free cash, you already paid for it

Holy shit no wonder credit cards took off in the US, your grasp on basic finance is infantile at best

Fuckin hell 😂

[-] ccunning@lemmy.world 1 points 1 month ago

Do you honestly not realise they're charging you the credit price even when you pay cash?

I do realize it. That’s why I get the cash back by using the credit card.

Do you not realize it? You’re admitting you pay the fees when you buy with cash but refuse to use a card to get the fee back.

…but go ahead and act like the smart one with your smaller back account if it makes you feel better about yourself.

[-] curiousaur@reddthat.com 10 points 1 month ago

Tell me you've never been to Costco without telling me you've never been to Costco.

[-] jimmydoreisalefty@lemmy.world 8 points 1 month ago

Yeah, most known US whole sale markets have an 'Exclusive Membership' fee to get access.

If you spend more than $3250 a year in the store, it is worth it for the most part.

[+] Hugh_Jeggs@lemm.ee -19 points 1 month ago

So you pay to get a discount?

Fuckin planet-brain move guys lmfao

[-] IsThisAnAI@lemmy.world 15 points 1 month ago

Do you not understand math?

[-] jimmydoreisalefty@lemmy.world 4 points 1 month ago* (last edited 1 month ago)

Edit: improved a bit: phrasing, grammer, words

You get 2% back, so if your budget allows, you end up on top.

'Tis be how capitalism works, yo.

As well as credit scores and debt relationships.

Post script: Please correct me or improve on my information if my thinking on the subject is wrong or needs improvement.

[+] Hugh_Jeggs@lemm.ee -14 points 1 month ago

you get 2% back

Is this the same as the 2% the credit card companies took off you in advance in order to pretend you were getting it back?

[-] Ageroth@reddthat.com 4 points 1 month ago

No. That 2% is with the membership, you get a certificate back every year based on what you spend in the store. The people talking about having to spend $3000 to break even are talking about this 2% return in relation to the membership fee. All the credit card rewards, cash back, or other points from whatever card you use are in addition, as well as all the discounted prices further reducing your cost burden.

Yes, you are paying 120 (130now I guess) for the privilege of spending less for more, with the additional benefit of making back that payment and more by buying the same things you would have bought from Walmart or wherever

[-] Hugh_Jeggs@lemm.ee -2 points 1 month ago

☝️ The billionaire's dream customer

[-] ccunning@lemmy.world 3 points 1 month ago

It’s the retailers, but they’re taking it off you whether you use cash or card, so you might as well use your card and get it back instead of just handing it over.

[-] Hugh_Jeggs@lemm.ee -1 points 1 month ago

It's the retailers

No, it's the card company

[-] jimmydoreisalefty@lemmy.world 1 points 1 month ago

'Tis be how capitalism works, yo.

Refer back to the quote above.

You may be right, though, hahaha.

If someone else knows more, please step in; I need an adult (to help enlighten us on the subject at hand)!

this post was submitted on 12 Jul 2024

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