Alert to all of the Costco lovers: Costco raises their membership fees for the first time since 2011.
Sure, getting a heavy discount on your necessities like cleaning supplies and toilet paper is great, but is it worth the additional fee? Costco is raising the price of their Gold Star membership from $55 a year to $60. The $5 increase may just be enough to ditch the costly membership especially if you’re an Executive member. The Executive membership will increase from $110 to $120 per year.
35 million members will be effected on June 1st when the increase will take place. This doesn’t really come as a big shock, as Costco generally raises their fees every few years, the last time was in 2011. But how much is too much?
Costco’s competitor, Sam’s Club allows you to join for $45 per year, at the very minimum. Their Best Value card goes for $100 per year.
The resounding question is, why is Costco raising their prices? Now, sales and profits have been lower than expected. The Costco share fell 4 percent and is continuing to be less successful than anticipated.
Grocery shopping has a new meaning ever since Costco and Sam’s Club hit the scene. Anywhere from getting an eye exam to gorging on an excessive amount of free samples, going to Costco or Sam’s Club is an experience. But, is it worth the price? You tell us!
