With Costco raising the cost of a membership, what decision should you make about your membership with my favorite warehouse club?
People have been coming at me like I’m the spokesperson for the company. I’m not. I’m just a member like anybody else. I will have to pay the increased membership fee just like anybody else.
Am I outraged that the cost is going up to $55 for a standard membership and $110 for an executive membership? Nah. People will just have to decide one by one if it’s worth it to pay that.
Some people think the whole membership thing is lame. “Why would I pay to shop at a store?” I hear so often. But it’s a business model that has worked with three viable competitors in the industry. You make the call if it’s worth it to you.
Why would it be worth it? Well, put it this way: I’m a member of all three national chains — Costco Wholesale, Sam’s Club and BJs Wholesale. I do nearly 100% of my shopping at these stores. (The other shopping I do is at dollar stores. That’s about it for me.) I believe I’m getting meaningful savings that would make paying all three fees worth it.
So you decide. Is Costco worth an extra $5 a year or is it your time to reevaluate? If it’s the latter, Sam’s Club will be $15 cheaper per year than Costco when the latter’s fee goes up next month. Maybe you join Sam’s Club instead. It’s your call.