Attention all smart shoppers and coupon clippers! Are you a Costco member? Thinking about becoming one? Costco has been setting itself apart from other major retailers for decades… but how? Read through this list of Costco secrets to learn the intricacies of the Costco membership, the history of Costco, and some other generally interesting Costco facts you probably didn’t know about. There's even Costco membership information for those looking to join.
If you’re already a member of the Costco cult, you know there’s something different about this particular warehouse store. Costco is the jack of all trades in the retail industry, allowing shoppers to develop film, shop for Thanksgiving Day, buy Dad a new digital camera, and stock the little league snack bar, all in one stop. But how do they keep prices so low? Who runs this place, anyway? This list will enlighten your predetermined Costco opinions and set any Costco mysteries straight.
The Price of the Hotdog Combo Hasn't Been Raised Since 1985
$1.50 for a fountain drink and a hotdog is unbeatable. Costco started serving this delightful duo in 1985 and has promised to keep the price the same. Fast forward a few decades and whaddya know? Promise kept.
Their Business Strategy Is Employee-Centric
Founders James Sinegal and Jeffrey Brotman have kept things consistent at Costco. They believe in simple, wholesome business; they pay their employees fair wages, close the store on major holidays like Thanksgiving and Christmas, and receive modest incomes in comparison to men and women in similar positions at other retail power houses. "If you hire good people, give them good jobs, and pay them good wages, generally something good is going to happen," says Sinegal.
Costco Doesn't Mark-Up Items Over 15%
Most retailers' mark-up is right around 25%, with some of the larger department stores pushing a 50% mark-up. Costco's mark-up stays below 15%.
You Can Get Free Tech Support for All Electronics Bought in House
Can't get that new digital camera to turn on? Having an issue with your flat screen TV? Call Costco's free tech support and they'll help you troubleshoot. Their technical support team is available from 5 am to10 pm PST, seven days a week, which is pretty impressive considering they don't manufacture these products and they aren't a electronics warehouse.