Costco has implemented major changes that will benefit its most exclusive members, the Executive Members, who hold the highest level of subscription in the chain, which, as you know, rewards its most loyal customers!
But of course, you want to know what those advantages are, right? Well, Costco has proposed that its most exclusive users get early access to the store on weekends, more monthly bonuses for purchases, and additional benefits on top of those already in place.
This is how they plan to keep their most committed shoppers and encourage others to upgrade their membership, a 10 out of 10 tactic!
Previous changes
These are not the only changes Costco has been making. Just last year, they adjusted membership rates for the first time since 2017!
Now, with more than 78 million member households in the United States, the company wants to make the difference between membership tiers even clearer and justify the price of its premium membership.
What are Costco’s membership plans?
Gold Star Membership: This is the standard rate, costs $60, and gives you access to all Costco stores worldwide, use of the store’s services, and a membership card for the primary cardholder. It’s ideal for those who want to enjoy low prices but do not wish to pay extra for premium benefits.
Executive Membership: This costs $130 per year and includes a 2% annual cashback on purchases, exclusive hours, monthly rewards, and special discounts. If you’re a frequent customer or have a large family, this plan is for you!
What changes with Costco’s new policy?
Starting Monday, June 30, Executive Members can enter one hour earlier than other members! The whole store to yourself, like a sultan!
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And this will apply Monday through Friday, in addition to the weekends (even if there are slight schedule adjustments).
What are the hours?
From Monday to Friday, exclusive access will be from 9:00 to 10:00 a.m.
On Saturdays, Executive Members can enter from 9:00 to 9:30 a.m., and on Sundays, the schedule will be 9:00 to 10:00 a.m. again.
For all customers, warehouses will now close one hour later on Saturdays, staying open until 7:00 p.m.
This way, crowds will be avoided, and you, who pay your membership fee religiously, can enjoy a much calmer shopping experience!
And the bonuses?
In addition to extended hours, Executive Members will receive a $10 monthly bonus on orders over $150 (either same-day or through Costco Instacart). This benefit adds to others already active, like the well-known 2% cashback on annual purchases, which can go up to $1,250 per year, not bad for a single benefit!
Is the Executive Membership worth it?
The Executive Membership costs $130 annually (double the basic membership), but the exclusive benefits it offers are designed so that frequent shoppers quickly recover their investment.
A strategy to retain and attract new customers
Costco wants to reward the loyalty of its most faithful and committed customers and create FOMO (fear of missing out, as young people call it) among those who haven’t upgraded yet!
The competition is fierce, and finding ways to stand out is crucial. Costco is doing it with exclusive perks, more perks, more sense of belonging, and more spending in their stores. A full-blown strategy!
| Gold Star Membership | Executive Memebership | |
| Plan | Standard | Premium |
| Cost | $60/year | $130/year |
| Exclusive benefits | – | Early access$10 monthly bonusNew store hours |
| New store hours | Saturday closing 7.00 p.m. | |
