23+ Costco Statistics, Facts & Trends In 2021

WRITTEN BY: supportmymoto.com STAFF

Since Costco opened its first retailer within the US in 1983, the membership-only wholesale retailer has expanded into 11 different nations. Consequently, Costco is at present the fifth largest retailer on this planet.

Nonetheless, each nearly all of the shops that Costco owns and the recognition that the chain enjoys are concentrated in its dwelling nation. 

When you’re searching for up-to-date statistics, info, and tendencies on how Costco bought its begin and the way it’s doing at present, you’ve come to the correct place. 

5 Key Costco Statistics & Details In 2021

  • There are 795 Costco stores in 12 nations the world over. 
  • Costco was initially two separate corporations, referred to as Costco and Worth Membership. 
  • Costco employs 180,000 folks within the US alone. 
  • Costco solely shares round 4,000 merchandise in every of its warehouses. 
  • Costco’s on-line gross sales had been boosted by 50% throughout the coronavirus disaster. 

23 Costco Statistics, Details & Developments In 2021

23 Costco Statistics, Facts & Trends

Costco Historical past Details

Costco is much-loved by buyers the world over. That is the way it bought to the place it’s. 

1. Costco’s First Location

The primary Costco retailer opened in Seattle in September, 1983, and two different shops adopted intently behind. However, the model as we all know it at present didn’t get its begin till 1993, when Costco merged with a separate warehouse retailer chain, Worth Membership. 

Initially often known as PriceCostco, the mixed entities boasted 206 areas and generated $16 billion in annual gross sales. 

2. The Costco Title

Working as PriceCostco for 4 years, the identify Costco Wholesale Corporation wasn’t adopted till 1997. The identify change got here because of the household behind the unique Worth Membership shops splitting off to determine a brand new warehouse membership chain, referred to as PriceSmart. 

3. Costco Memberships

The unique Costco members had been all small-business owners. Nonetheless, upon realizing that there was wider demand for bulk merchandise bought at inexpensive costs, the founders started to supply memberships to the broader public. 

Today, nearly all of Costco’s earnings come from membership income. In 2020, the chain made $768 million from membership fees alone. 

4. Costco’s Reasonably priced Meals Courts

Costco’s meals courts are much-loved, and for good motive. Not solely are their well-known hotdogs tasty and handy, they’ve additionally been priced at $1.50 since 1985. This is only one instance of Costco staying true to its tried-and-tested early enterprise mannequin. 

Costco Recognition And Market Share Statistics

Costco Popularity And Market Share Statistics

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There are many the reason why Costco is so common. Learn on to search out out what they’re. 

5. A Main World Retailer

Costco is without doubt one of the greatest retailers in your entire world by income. In actual fact, it is available in second solely to America grocery store big Walmart, which earned round $514 billion in 2018. 

Costco’s income pales compared, coming in at round $141 billion. That is nonetheless one billion {dollars} increased than the income of its nearest competitor, Amazon. 

6. The Merchandise Costco Sells

With 140,000 sq. ft of ground area, Costco warehouses are huge. Nonetheless, every solely shares round 4,000 products at anyone time, one-tenth of the vary that different main supermarkets would usually inventory. 

Many shoppers store at Costco for the comfort and value, slightly than the choice of merchandise on supply. 

7. Costco’s Low Costs

The low costs of the comparatively few merchandise that Costco sells serve to make the chain’s vary of merchandise very engaging. In actual fact, Costco’s costs had been discovered to be decrease than competitor Amazon’s on almost 80% of all products. 

And, since Costco makes nearly all of its earnings from membership charges, the shop can afford to maintain costs low shifting forwards. 

8. Costco’s In-Retailer Companies

Costco additionally gives providers that give it a aggressive edge. These embrace in-store auto restore, on-line photograph printing providers, and insurance coverage. And, simply as with the merchandise that you simply purchase, many providers accessed by Costco are more likely to prevent cash. 

For instance, you’ll be able to save around 11% on auto and residential insurance coverage insurance policies bought by Costco. 

9. Costco Rotisserie Chickens

It may appear ridiculous to attribute Costco’s recognition to the rotisserie chickens it sells, however they do have an element to play. 

They usually weigh in at round a pound heavier than different grocery store rotisserie chickens and value simply $4.99 every, simply as they’ve since 2009. So, it’s little surprise they sell more than 164,000 each single day and have garnered one thing of a cult following.  

Costco Logistics Statistics

Costco Logistics Statistics

Operations as huge as Costco’s require refined logistical planning. That is how the chain does it. 

10. Closing Mile Logistics 

Costco’s “last mile” logistics operations are carried out by an organization referred to as Innovel Solutions, which the chain acquired in 2020. Since renamed Costco Logistics, the acquisition introduced with it 1,500 new workers and 11 new distribution and fulfilment facilities. 

11. Costco’s Reverse Logistics 

To chop down on empty miles and carbon emissions, Costco’s transportation group decide up the merchandise or returned items destined for depots when driving again from warehouse deliveries. 

Often known as “reverse logistics,” this program additionally helps to cut back merchandise dealing with prices. 

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12. Pallets

The shopper is usually the primary individual to the touch particular person gadgets of inventory in Costco’s shops. It is because all of Costco’s items are shipped and stocked in-store on pallets. 

As such, Costco can scale back dealing with and take advantage of the capability it has, each in supply vans and on the store ground.  

13. Commute Journey Discount 

For greater than twenty years, Costco’s Commute Trip Reduction (CTR) program has inspired workers to vanpool to work collectively, in an effort to make commuting extra sustainable. 

Beginning out with 18 vans within the early days, by 2020 there have been 68 vanpools and virtually 500 riders. 

Costco’s Worldwide Attain

Costco’s Worldwide Reach

Costco has revolutionized grocery retail in nations the world over. Right here’s all the newest data on the nations which have Costco shops. 

14. There Are Costco Warehouses In 12 International locations

The US and Puerto Rico have by far essentially the most Costco shops, with 558 warehouses throughout 47 states and territories. 

Among the many 11 different nations which have Costco warehouses, Canada is available in second to the US with 102 shops, whereas China, France, and Iceland every solely have one.  

15. Common Gross sales Per Warehouse

Costco worldwide sees a rise in average annual sales most years. The one exceptions previously decade had been 2015 and 2016, which noticed dips of $2 million and $3 million respectively. 

Income has, nevertheless, elevated persistently since then, with a 12.8% year-on-year improve reported for the yr ending February 28, 2021. 

16. Costco’s New Areas

The success of Costco’s worldwide operations means it’s all the time seeking to broaden. In actual fact, in March and April of 2021, the chain is planning to open six new warehouses within the US, Canada, and Japan. 

Costco Worker Statistics

Costco Employee Statistics

All the things you could learn about what it’s wish to work for Costco. 

17. Hourly Employees

Costco employs round 180,000 folks within the US, that means it’s far off being one of many biggest private employers within the nation. 

Of those 180,000 folks, about 90% of them are hourly workers and a majority of them work full time. 

18. A Dwelling Wage

Even Costco staff on the fundamental price earn greater than double the federal minimum wage of $7.25. 

As of this yr, all Costco workers make not less than $16 an hour, up from the $15 beginning price that was in place for the previous two years. 

19. Costco Worker Advantages

In addition to a dwelling wage, Costco staff get benefits together with imaginative and prescient and dental care, life insurance coverage, and 401(okay) packages. As such, Costco was rated the top company for compensation and advantages by workers in 2018. 

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Costco’s Challenges

Costco’s Challenges

Costco has confronted challenges alongside the best way, however has persistently come out sturdy. That is how. 

20. Costco’s Merchandise

Since Costco warehouses solely inventory a restricted choice of merchandise, they danger losing customers to shops that may supply extra alternative. Nonetheless, Costco nonetheless caters effectively to folks seeking to purchase their necessities in bulk and at an inexpensive worth. 

21. Direct Competitors

Again in 1993, Costco declined an offer from Walmart to merge the sooner CostcoPrice shops with Sam’s Membership warehouses. Now, Sam’s Membership is Costco’s biggest competition. 

In the US, Sam’s Membership has extra shops. Nonetheless, Costco fares much better within the international market and, as such, earned $163 billion in net sales in 2020 in comparison with Sam’s Club’s $58.79 billion.  

22. The Amazon Risk

Amazon’s tremendous handy on-line retailer poses a threat to all brick and mortar retailers, Costco included. Nonetheless, despite Amazon’s meteoric rise, Costco’s performance has remained constant, and the corporate continues to carry out about in addition to it did a decade in the past. 

Costco Rising Market Statistics, Details And Developments

Costco Emerging Market Statistics, Facts And Trends

One of the engaging issues about Costco is the truth that its enterprise mannequin has stayed the identical for thus lengthy. With that in thoughts, right here’s how the corporate has expanded its choices in recent times. 

23. New Similar-Day Supply Companies

In 2017, to maintain up with the rising demand for on-line supply, Costco launched its first one-day and two-day grocery delivery schemes, referred to as CostcoGrocery. 

On account of this foray into e-commerce, the retailer was effectively ready to cope with the coronavirus disaster. And, not solely did on-line supply assist Costco survive, it meant the chain thrived, with a 50% leap in on-line gross sales recorded within the fiscal yr 2020.

To be taught extra about Costco, you can too examine their worth match coverage, couponing coverage, and the way they assist Veterans. 

Conclusion 

Costco is consistently increasing, and at present has warehouses in 12 completely different nations. Recognized for high-quality merchandise bought in bulk at low costs, Costco’s enterprise mannequin has stayed a lot the identical for a few years. And why would it not not? Costco members are usually very loyal and have helped to make the retailer the fifth largest on this planet. 

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