While the company is aware of economic concerns facing many Americans, Galanti stated - during a previous earnings call - that the economy is not a reason to hold prices. The company does everything it can to protect this retention rate. ![]() As of March 8, this hike had not materialized.Ĭostco has an extremely loyal customer base, The Street reported, with a 92.5% membership renewal rate in the U.S. While no specific date was given, Galanti did note that the company has averaged 5 years and 7 months between membership price increases, and The Street indicated that this placed the next price hike in Jan. According to Eat This, Not That, this rate hasn’t changed since June 2017, when the fee went up $5 for gold members and $10 for executive members. When pressed as to when that price increase may arrive, the CFO replied, “We’ll let you know,” per Fox 5 New York.Ĭostco currently charges an annual fee of $60 for the basic Gold Star membership and $120 for the Executive membership with added perks. “In our view, it’s a question of when, not if,” Galanti said of the eventual rate hike. ![]() See: Costco’s Best Deals? Employee Reveals 10 Standout Buys for Your Moneyįind: 3 Signs You’re Serious About Raising Your Credit Score There’s no set date on when the wholesale giant is expected to raise the prices of its memberships, but Costco’s chief financial officer, Richard Galanti, made its approach clear on the company’s latest earnings call on March 2. If there’s ever been a good time to join Costco, it’s now.
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