Costco Wants to Stop , Membership Card Sharing.
CNN reports that people who
aren't Costco members are increasingly
using other people's cards at self-checkout.
The company will now ask to see an ID along with
a membership card at self-checkout registers.
We don’t feel it’s right that nonmembers receive the same benefits and pricing as our members, Costco, via statement.
The warehouse club retailer is one of the
world's biggest membership clubs, CNN reports.
A regular membership costs $60 a year,
and an executive card costs $120 a year.
Costco's membership prices
have not gone up since 2017.
Last year, Costco raked in $4.2 billion
from membership fees alone.
That's 9% more than what membership
fees brought in the year prior. .
Changes to the company's membership structure could cause it to raise prices, CNN reports.
The extent to which we achieve growth in our membership base, increase the penetration of Executive membership, and sustain high renewal rates materially influences our profitability, Costco, via statement