Costco may be a favorite among bargain shoppers (and lovers of free samples), but the warehouse store chain isn’t doing as well as it had hoped, which means it’s time to raise membership fees by 10%.
The fee hike, Costco’s first since 2006, will take effect on Nov. 1 and will impact around 22 million customers in the U.S. and Canada.
Costco’s U.S. and Canadian Goldstar, business, business add-on and Canada business members will now pay an annual fee of $55, up from $50. Executive members, who receive additional rewards such as an annual rebate check to use in the store based on what they spend, will now pay $110, up from $100.
Costco raising membership fee as it misses forecasts [Chicago Tribune]