According to MSN Money, discount retailer Costco is “the Anti-Walmart” for its quality goods at low markups and employees who are well-paid and have health care. From MSN Money:
This formula has generated fierce loyalty among both shoppers and workers while rewarding long-term investors…the company also has managed to make discount shopping fashionable for affluent Americans by offering fine wines, books and big-screen televisions at low prices, and staples such as paper towels and razor blades in bulk.
By offering one-time specials like discounted Prada bags or Callaway golf clubs at individual outlets, Costco has created what it calls a “treasure-hunt” atmosphere in its stores.
What do you guys think? Anti-Walmart? —MEGHANN MARCO
Costco: The Anti-Walmart [MSN Money]
(Photo: iBjorn)
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The guy in the cubicle next to me has been able to return 2 laptops to them, one time while his receipt, the box, and the software was in Puerto Rico. The only problem he had the second time he returned one…it has Vista on it.
I’ve never shopped there, but after he told me about that I’m certainly going to start. How can returns be so simple at one place and so impossible at others?
@velocipenguin: $39.95 for Lucky jeans is a steal! They are normally $100 or more.
I didn’t realize Costco has such bargains! I have had a Sam’s membership for 5 years now and just renewed last weekend. After hearing about $39.95 Lucky jeans, I wish I would have switched over to Costco. Costco is closer to my house than Sam’s is, too. Damn!
I live in S Korea and I think the Costco-Walmart experience here is indicative of the difference between these 2 giants
When Costco first opened, the stores were empty, apparently because Koreans were not happy with the concept of buying a membership to shop in a discount environment because there are many large Korean discounters who do well with no membership fees. But Costco persevered, got the message out, brought in a lot of items Koreans felt were unique and interesting. Now, the store I go to opens at 9:30 and the 6 story parking lot is usually full by 10, 9 on weekends. It’s unbelievably busy inside the stores which are usually 2 stories of shopping-1 dry goods and 1 food. The customers are 90% Korean and the shopping carts are packed to the top. The food court is always a zoo and in general, Costco has quickly become a part of Korean shopping culture.
Walmart opened with a flurry and the stores were packed because of their reputation in the US. But last year, they packed it in and sold out to a large Korean retailer and the brand is now gone. Another retail giant -Carrefour out of France met the same fate about the same time. I don’t pretend to understand why these 2 didn’t make it and Costco is thriving but I can tell you this: Koreans know value when they see it. Once something becomes “in” here, it has it made and Costco is extremely “in” in S Korea.
I have a Costco membership, though I don’t actually get to use it often (we don’t have time/money/space, especially space). But I don’t even mind giving them free money, because they treat their employees well and all their products are not cheap shit from China. Those things count, dammit.
(When I have gone there, I’ve found neat stuff and good prices and generally friendly staff. I don’t really like warehouse stores as a whole, but no complaints really. Oh–except their sushi. DON’T buy whatever brand that Costco sushi is. ::shudder::)
YEAH, I love the lucky jeans they carry! The only thing I never buy there is fruit or perishable stuff ’cause it’s just two of us at home and the stuff ends up going bad on us.
OH… and as far as the long lines… at our costco they’ve waved us over to the cigarrette counter if we just have one or two items.
My family has been shopping at Costco since it was Price Club. Their prices are a steal for a large family living on one income. They really have a treasure hunt kind of vibe, b/c you never know if they are going to have Lucky Jeans, the new Prada bag or Wii’s.
I wish I had a membership at one:
http://consumerist.com/consumer/indoor-pool/costco-accepts…
‘Nuff said.
I like Costco because they sell caskets and ship them overnight. That said, I’ve never been in one. I’m not a fan of warehouse stores because like RowdyRoddyPiper, I don’t have the space in my apartment to store a 20-gallon can of shaving cream. Or 20 1-gallon cans, or 40 half-gallon cans . . .
Here’s another take on Costco. The small business I work for is a vendor to Costco. They carry one of our products as a seasonal in-store item and a few more on their web site. Of all the retailers that we have dealt with, Costco’s the best by far. They have the right kind of customer for our products, they are fiercely loyal to vendors who do a good job (when competitors use tricky tactics to try to make inroads), they don’t beat us up on price, they pay us within 10 days of delivery (most others insist on 2%/NET45 terms), and they don’t insist on a guaranteed sale. These are really important things for manufacturers like us.
I only have two gripes. They have outdated systems that don’t allow vendors to see sales trends and historical info. Hence, the buyers we work with are not always eager to hear from us every week asking how sell-through is going. The other problem we have is that they ship our product returns (small electronic device) back one-at-a-time and we pay the freight.
My wife and I are also long-time Costco members. The selection is limited, but in a good way. Costco is not always the cheapest, but they always have the best value; you get more than what you pay for.
It took me a month to finish a wheel of Brie from CostCo. And a year to get through a box of Mentadent toothpaste.
Since when does costco sell iMacs?
@cbearnm: Funny to read about the problems with returns at Costco, since I was shocked to see the guy in front of me at the return line at Sam’s Club return “Quicken 2003″ without any questions. I asked about that when I got to the counter and was told that they knew it was old but they accept the return anyway.
It’s also a ridiculous comparison between Costco and Wal-Mart, when it should be between Costco and Sam’s club.