T. Ozbun
Research expert covering food retail and all food topics for Italy and Brazil
Costco - Statistics & Facts
Costco Wholesale Corporation sets itself apart from many other mass merchants by requiring customers to pay a yearly membership fee in order to shop at its locations. This membership-based approach has been a key factor in Costco's success, fostering customer loyalty and driving repeat business which has allowed the company to become the third largest retailer in the world. Some of the different departments in which Costco operates include grocery, appliances, baked goods, electronics, apparel, and books, among many others, as well as offering a food court in many of its establishments. Many branches also offer optical services, gas stations, tire garages, or photo processing services.
Costco’s financial performance and competitors
In 2023, the company generated global net sales of around 238 billion U.S. dollars, with the U.S. being its most profitable regional segment. Costco’s main competitor, Walmart, still dwarfs Costco in terms of sheer numbers. In 2022, Walmart generated almost three times as much retail sales as Costco. Other competitors, though not as large as Costco, are Target and BJ’s Wholesale Club. The former had net sales amounting to approximately 107.6 billion U.S. dollar, while the latter which, like Costco, also functions as a membership-only warehouse club, recorded net sales of around 18.9 billion U.S. dollars.Stores and memberships
Through its over 800 warehouses, spread over 14 countries worldwide, Costco provided employment to more than 300,000 people. Most of the stores were located in the United States, with California leading the ranking of states with the highest number. Despite having fewer stores compared to its main competitor, Walmart, Costco had the highest average sales volume per store among the top three mass retailers in the United States. In 2023, the company boasted nearly 128 million club members worldwide. In the United States, membership fees begin at around 60 U.S. dollars per year and give members access to all Costco locations worldwide. As for Sam’s Club, membership fees start at 50 U.S. dollars annually, with the option to upgrade. Sam’s Club plus membership starts at 110 U.S. dollars per year, and unlike the club membership, customers can earn cash-back rewards. A similar concept is also applied to BJ’s Wholesale Club. In addition to the regular subscription, BJ’s Wholesale Club also operates a premium membership. This premium subscription is twice the price of the regular membership and, like its counterpart Sam’s Club, offers the opportunity to obtain cash-back rewards.
