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This isn't the only major change to Costco's membership-checking processes in the last year. Back in June, Costco confirmed to Eat This, Not That! that it had started asking to see members' cards ...
Costco made $4.2 billion in membership fees in 2022, a 9% increase from 2021. The company’s renewal rate was 93% last. Any changes to membership growth or renewal rates could hurt Costco and ...
Costco is currently testing a policy that would require customers to scan their membership card before entering the warehouse. But some customers aren't having it.
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Now, however, clubs will also ask to see cards with a photo at self-checkout registers, Costco said, adding that stores will also need to view a photo ID if the membership card doesn't have a picture.
Costco has been performing well, raking in $52.60 billion in the third quarter of 2023, up 2% from $51.61 billion last year. But growth at the warehouse club giant has still slowed this fiscal ...
Costco exterior. In June, Costco showed it meant business when news of a card-sharing crackdown made headlines. Nationwide, members had to show their cards when entering and at the check-out.
The bulk of its earnings come from membership fees, which help cover company expenses and keep prices low. It charges $60 for annual memberships and $120 a year for its higher-tier plan, called ...