By Daniella Genovese
Costco CFO hinted that membership price hikes could come in the future
(MAINNEWS) – Shoppers can nab a Costco membership, and get an immediate discount on purchases. It’s not offered through Costco.
Online marketplace StackSocial is offering a one-year Costco Gold Star Membership with a $30 Digital Costco Shop Card. It’s currently listed under its bestsellers category.
The membership costs $60 for the year, which is the same price advertised on Costco.com. However, new members will get the free shop card with the purchase, which essentially gives them $30 off their purchases.
The membership through StackSocial comes with one free Household Card and is valid for one year at any Costco around the world and online.
Aside from the shop card, the perks are the same as if you sign up through Costco. However, the $30 gift card could be quite helpful given the fact that Costco is planning to raise membership fees.
In December, the wholesale retailer’s CFO Richard Galanti hinted at fee increases in the near future.
A reporter had asked Galanti whether the nation’s weak economic backdrop would factor into the warehouse club’s calculus on the timing of a fee increase — which typically occurs between every five years and seven months.
Galanti responded saying it “certainly goes into the thought process.”
The executive further noted that Costco is “still not even to the average of the last three increases in terms of timing between the last one and the next one.”
The last increase was in 2017. At the time, fees increased by $5 for all personal and business memberships in North America. It bumped all U.S. and Canada Goldstar, Business and Business add-on members to an annual fee of $60. Executive memberships in North America increased from $110 to $120.