Costco’s numbers remain outstanding even with a staggering inflation rate that has caused a drop in consumer spending. April’s net sales, reported last week, rose 13.9% to $17.33 billion from $15.21 billion in April 2021. Concurrently, same-store sales increased by 12.6%, while e-commerce sales increased by 5.7%. Even as families’ budgets are stretched, and possibly because of it, Costco’s member loyalty continues.
Loyalty isn’t cheap, and those who love their local Costco warehouse will likely face a twice-per-decade membership increase. Historically, the increase hasn’t been an issue for Costco customers. Membership retention has stayed at approximately 90% for years, and the most recent reporting for the U.S. and Canada combined placed it at 91.6%.
Costco offers unique finds and top-quality products at great prices—a winning formula for success.