What’s the most important thing Costco sells in its stores?
- Gas?
- Food?
- Gold?
- Hot dogs and pizza?
“The most important item we sell is the membership card,” Ron Vachris told Fortune.
Why?
Because Costco has 130 million members who pay $60 to $120 yearly just for store access.
There are different membership levels.
The Gold Star membership offers warehouse access and deals.
The executive membership adds 2% cash back.
Since 2016, membership has grown 50%, generating $4.6 billion last year.
90% of members renew their memberships – a cash cow!
Would you like to know more about subscription marketing?
Call Michael Oppenheimer at 615-933-4647 or email him at [email protected].
