In the world of retail giants, Costco stands as a true powerhouse. With its cavernous warehouses, unbeatable prices, and a loyal customer base, Costco has made an indelible mark on the retail landscape.
Top Stats At A Glance
What drives the success of this membership-based retail giant? To uncover the secrets behind Costco's thriving business model, we delve deep into the world of statistics.
Do you know? 👇
Let's take a journey to explore the numbers that define Costco, shedding light on its growth, customer behavior, and the strategies that have made it an enduring retail phenomenon. Join us on a data-driven journey through the aisles of Costco to discover the statistical insights that underpin its remarkable story.
Costco Revenue Statistics 💸
Costco has consistently ranked among the top retailers in the world. Its ability to attract and retain a massive membership base is a testament to its warehouse offerings and remarkable financial performance.
From impressive annual earnings to the factors driving this success, we will dissect the numbers behind Costco's revenue to uncover the financial story that has made it a standout player in the retail industry.
- Costco inaugurated its inaugural warehouse in Seattle, Washington, back in 1983 and has since grown to become the third-largest retailer worldwide. 1
- Costco's warehouses offer an unparalleled and extensive range of product categories, making it one of the largest and most exclusive selections available in a single location. 3
- These categories encompass groceries, confectionery, appliances, electronics, automotive supplies, tires, toys, hardware, sporting goods, jewelry, timepieces, cameras, literature, household items, clothing, health and beauty products, furniture, office supplies, and office equipment. 3
The company derives its revenue from two primary sources: 1) in-store sales and 2) membership fees. 2
- During the year 2021, the company achieved approximately $192 billion in global net sales, with its most lucrative regional segment being the United States. 1
- In comparison to Costco, its principal rival, Walmart, continues to significantly surpass it in terms of sheer scale; in 2021, Walmart recorded nearly three times the retail sales as Costco did. 1
- Despite having fewer stores in comparison to its primary competitor, Walmart, Costco boasted the highest average sales per store among the top three mass retailers in the United States. 1
Costco Annual Revenue from 2019 to 2022 (In Millions Of $)
- In 2022, Costco's annual revenue reached $226.954 billion, reflecting a 15.83% increase compared to 2021. 2
- In 2022, the net sales from our gasoline business accounted for approximately 14% of its total net sales. 4
- In the quarter ending May 31, 2023, Costco recorded revenue of $53.648 billion, marking a 2% year-over-year increase. 2
- Costco's revenue reached $235.442 billion for the twelve months ending on May 31, 2023, reflecting a year-over-year growth rate of 8.23%. 2
- In 2022, Costco achieved an annual earnings per share (EPS) of $13.14, marking a significant 16.59% increase from the previous year, 2021. 2
- The highest-ever closing price for Costco stock was $601.52 on April 07, 2022. 2
- As of September 05, 2023, the latest closing stock price for Costco stands at $544.73. 2
- The current dividend yield for Costco as of September 05, 2023, is 0.75%. 2
- Costco’s financial and operational success relies significantly on its operations in the U.S. and Canada, accounting for 87% of net sales and 85% of operating income in 2022. 4
- California operations are of great importance within the United States, representing 28% of U.S. net sales in 2022. 4
- The growth in membership fee revenue in 2022, a 9% increase, can be attributed to new member enrollments and upgrades to the Executive membership tier. 4
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Costco's revenue statistics reveal a remarkable financial performance. With consistent year-over-year growth, it's evident that Costco has effectively capitalized on its membership-based model and bulk-buying concept.
Its ability to generate substantial revenue stems from a combination of factors, including a loyal customer base, a diverse product range, and competitive pricing.
Costco's revenue statistics underscore its position as a major player in the retail industry, driven by a customer-centric approach, product diversity, and an effective combination of in-store and online sales channels.
How does Costco generate its revenue?
Costco generates revenue from two streams, namely in-store sales and its membership fees.
What does Costco rely on for its financial and operational success?
The financial and operational prosperity of Costco is heavily contingent on its activities in the United States and Canada, which contributed to 87% of net sales and 85% of operating income.
Costco Global Reach And Growth Statistics 🌎
Costco has come a long way from its modest origins and has become a leading global retail giant. What started as a single warehouse in San Diego, California, has now expanded across multiple continents, captivating consumers all around the world.
We'll delve into the intricacies of Costco's global presence, exploring its strategic expansion into international markets and the cultural adaptations that have helped it appeal to diverse customers.
- Costco Wholesale Corporation operates an international network of membership-based warehouses under the "Costco Wholesale" banner. 3
- These warehouses offer top-quality, brand-name merchandise at significantly lower prices than traditional wholesale or retail outlets. 3
Food and Sundries
Including sundries, dry grocery, candy, cooler, freezer, deli, liquor, and tobacco!!
Non-Foods
Including major appliances, electronics, health and beauty aids, hardware, garden and patio, sporting goods and more!!
Fresh Foods
Including meat, produce, service deli, and bakery!!
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- Additionally, the company provides self-service fuel stations at various locations in the U.S., Canada, Australia, Japan, the United Kingdom, Spain, Mexico, Taiwan, and Iceland. 3
- Costco's typical warehouse space measures around 146,000 square feet, with newer units slightly larger in size. 4
- Its warehouses typically operate seven days a week, with a 70-hour workweek; gasoline operations often have extended hours. 4
Costco Areas Of Operation
| Area | Number Of Stores |
|---|---|
| U.S States and Puerto Rico | 591 |
| Canada | 107 |
| United Kingdom | 29 |
| Japan | 33 |
| Australia | 15 |
- In Costco's primary warehouse operations, it keeps less than 4,000 stock-keeping units (SKUs) per warehouse, a significantly smaller inventory compared to that of other comprehensive retailers. 4
- Costco offers an average of 10,000 to 11,000 SKUs online, some of the stock items are also available in its physical warehouses. 4
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Costco's global reach and growth statistics exemplify the company's successful expansion strategy. The fact that a company founded in the United States has established a significant presence across various countries highlights its ability to adapt to diverse markets and consumer preferences.
One key aspect of Costco's global reach is its consistent expansion into new international markets. This strategic approach allows the company to tap into new customer bases and diversify its revenue streams. The presence of Costco in numerous countries signifies its appeal to a wide range of consumers, transcending cultural and geographical boundaries.
How many products does Costco have in-store compared to online?
Costco has approximately 4,000 products in store, however they have a wide variety online with more than 10,000 different products available.
In which countries does Costco have self-service fuel stations?
At various locations in U.S., Canada, Australia, Japan, the United Kingdom, Spain, Mexico, Taiwan, and Iceland.
Costco Demographic Statistics 😎
Costco, the beloved bulk-buying haven, has successfully positioned itself as a shopping destination for a wide-ranging demographic spectrum. From young families seeking savings to retirees enjoying the perks of membership, Costco's ability to cater to diverse customer groups is a testament to its adaptability.
Furthermore, Costco owes much of its success to its dedicated workforce. The people who staff Costco's warehouses are pivotal in delivering the brand's promise of value and quality to millions of shoppers.
- Approximately one-third of American consumers are patrons of Costco. 6
- Over 84% of individuals who made purchases in 2021 came back to the store in 2022. 6
- Costco also attracted approximately three new customers for every two it lost last year, indicating an expansion of its customer base. 6
- The typical Costco shopper in the United States is an Asian American woman aged between 35 and 44, married, residing in a city in the Pacific Northwest. She usually holds a four-year degree or higher and earns an annual income exceeding $125,000. 6
- On average, this customer frequents Costco on a weekend day approximately every two weeks, amounting to about 30 visits per year, and spends around $100 per visit. 6
- About 11% of the typical Costco shopper's expenditure goes toward purchases at the wholesale club. 6
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Costco's demographics reveal its unique ability to appeal to a diverse range of customers. The company's success is not limited to a specific age group, income bracket, or geographic location, which is a testament to its broad appeal.
- With a presence in over 13 countries and more than 800 warehouses worldwide, Costco has employed more than 300,000 individuals. 1
- The majority of these stores were situated within the U.S., with California taking the top spot in the list of states with the highest store count. 1
- In 2022, Costco employed a total of 304,000 individuals, representing a 5.56% increase from the previous year, 2021. 2
Of the total employees are employed in the U.S.
- Approximately 95% of Costco's workforce is engaged in its membership warehouses and distribution networks, while less than 10% are affiliated with labor unions. 4
- In 2022, its employee retention rate in the U.S. stood at approximately 90% for those employees who had been with Costco for at least one year. 4
- Costco elevated the starting wage to $17.50 and granted employees an additional day of paid time off as a compensation enhancement in March 2022. 4
Changes to Salaries of a Costco employee! (Click) 👈
In October 2021, Costco implemented a minimum wage increase of at least $0.50 per hour for its wage scales in the U.S. and Canada. 👈
In March 2022, Costco introduced various compensation enhancements, which included a $0.75 per hour raise for the highest tier of wage scales in the U.S. 👈
In July 2022, Costco increased the top tier of U.S. wage scales by $0.50 per hour. 👈
The average annual salary for a Costco Wholesale employee is $37,025.
- Most Costco Wholesale employees have an annual income falling between $25,000 and $40,000, encompassing 69% of the workforce. 7
- Costco remains steadfast in its commitment to safeguarding the health and well-being of its members and employees and its dedication to supporting the communities it serves. 4
- Costco Wholesale exhibits a male-dominated workforce, with 60% of employees male, while 40% are female. 7
- The predominant ethnicity among Costco Wholesale employees is White, accounting for 56%. 7
- Approximately 23% of Costco Wholesale employees identify as Hispanic or Latino. 7
- About 9% of the employee base at Costco Wholesale is African American. 7
Age Range Of Costco Employees
- The predominant age range among Costco Wholesale employees falls within 20-30 years, with 54% of employees falling within this age group. 7
- Conversely, the least common age range among Costco Wholesale employees is under 18 years, comprising only 2% of the workforce. 7
- On average, employees at Costco Wholesale have a tenure of 4.6 years with the company. 7
- The highest degree level most commonly held by Costco Wholesale employees is a bachelor's degree, with 40% having achieved at least this level of education. 7
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Costco's employee demographics paint a picture of a diverse and dedicated workforce, reflecting the company's commitment to inclusivity and employee satisfaction.
These stats highlight a workforce that is not only diverse but also content and offered opportunities for career advancement. This positive work environment likely contributes to the company's reputation for excellent customer service and employee loyalty.
What is the average wage of a Costco employee?
The average annual salary for a Costco Wholesale employee is $37,025.
How much does a typical Costco customer spend on a single trip to the store?
A typical employee will visit a Costco warehouse twice a month and spend approximately $100 per visit.
Costco Membership Statistics 🤝
Costco Wholesale Corporation is a firm that manages a network of large-scale retail outlets with a warehouse-style layout, where they offer a diverse range of wholesale goods. In contrast to the majority of other large retail stores, Costco mandates an annual membership for access to their establishments.
- Costco Wholesale Corporation is a firm that manages a network of large-scale retail outlets with a warehouse-style layout, where they offer a diverse range of wholesale goods. 1
- In contrast to the majority of other large retail stores, Costco mandates an annual membership for access to their establishments. 1
- In the United States, membership fees commence at approximately $60 annually and grant members access to all Costco outlets worldwide. 1
- Costco offers three types of memberships: Executive, Business and Gold Star, each catering to different customer needs. 2
Membership Types 👇
Executive Membership
Executive Members receive added discounts on a range of Costco Services, including but not limited to auto and home insurance, the Costco Auto Program, check printing, identity protection, payment processing, and bottled water delivery.
Business Membership
Business Members are eligible based on their ownership or operation of a business and are required to pay an annual fee of $60 in the United States.
Gold Star Membership
Gold Star Members, who pay a $60 annual fee in the U.S., have access to shop at Costco for personal use.
- The number of memberships per household are 69.1 million. 3
- The number of cardholders are significantly more, sitting at 124.7 million. 3
- In the U.S., Executive Members receive an annual 2% Reward (up to $1,000) on eligible Costco purchases. 3
- All types of Costco memberships come with a complimentary Household Card, which can be used at Costco locations worldwide and for online shopping at Costco.com. 3
- Business Members are eligible based on their ownership or operation of a business and are required to pay an annual fee of $60 in the United States. 3
- This membership allows them to shop for resale, business, and personal needs, including one free Household Card. 3
- Business Members can also purchase additional membership cards for partners or associates in their business for $60 each. 3
- Gold Star Members, who pay a $60 annual fee in the U.S., have access to shop at Costco for personal use. 3
- Individuals who don't own a business can sign up for a Gold Star Membership, which also includes one free Household Card. 3
Members can make use of their memberships at all Costco warehouses and online platforms. 4
- As of the conclusion of 2022, Costco's member renewal rate stood at 93% in the U.S. and Canada and 90% worldwide. 4
- Most members choose to renew within six months of their renewal date. 4
- Paid cardholders in the U.S. (excluding affiliates) have the option to upgrade to an Executive membership for an extra annual fee of $60. 4
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One thing is abundantly clear: Costco's membership program is not just a transaction; it's a value-driven relationship.
- Executive memberships are also offered in Canada, Mexico, the U.K., Japan, Korea, and Taiwan, with varying additional fees. 4
- Executive members totaled 29.1 million in the U.S. and Canada, constituting 57% of paid members (excluding affiliates). 4
- While in our Other International operations, Executive members accounted for 22% of paid members (excluding affiliates). 4
In the world of retail, where competition is fierce and consumer loyalty is a precious commodity, Costco's membership statistics stand as a shining example of the enduring bond between a brand and its customers.
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From the impressive renewal rates that showcase members' unwavering commitment to the brand, to the diverse membership tiers that cater to individual preferences, Costco's approach to membership is a masterclass in understanding and delivering what customers truly value.
It's not merely about the discounts or access to exclusive products; it's about the trust and sense of belonging that members find within the walls of a Costco warehouse.
Costco's membership statistics are a testament to the idea that in the retail landscape, where trends come and go, a loyal and engaged customer base can be a company's most valuable asset.
Does Costco only cater to businesses who want to purchase in bulk or to individual households too?
Costco has different membership types to cater to various needs. Therefore, there is a membership type specifically for businesses and there is a membership specifically for individuals.
What is the annual membership fee for Costco?
The membership fee in the U.S. is $60. To upgrade to the Executive membership, there is an additional fee of $60. Business members can add can add additional members at a fee of $60.
Costco Ecommerce Statistics 📱
In an era of digital transformation, even retail giants like Costco have embraced the online shopping landscape. The convenience of shopping from home combined with Costco's signature value offerings has propelled its eCommerce division into a formidable player in the online marketplace.
We'll delve into the numbers defining Costco's digital journey by peeling back the layers of its digital presence.
- In addition to its physical locations, the company also operates ecommerce websites in several countries, including the United States, Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia. 2
- Costco's ecommerce operations provide members with convenience and a broader array of goods and services. 4
- In 2022, e-commerce sales represented roughly 7% of its total net sales. 4
- This percentage does not encompass other online services it offers in specific countries, such as business delivery, travel, same-day grocery, and various additional services. 4
Ecommerce Net Sales From 2019 To 2022 (In Million U.S. Dollars) 👇
- The online store was introduced in the year 1998. 8
- The vast majority of ecommerce net sales originate from the U.S. 8
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In the ever-evolving landscape of online retail, Costco's eCommerce statistics tell a captivating tale of adaptation and growth. As we wrap up our exploration of these intriguing numbers, one thing becomes abundantly clear: Costco is not just keeping up with the digital revolution; it's actively shaping it.
When was the Costco online store established?
The Costco online store was introduced in 1998.
What is Costco's ecommerce strategy?
Costco's eCommerce strategy differs from competitors, but their online sales are steadily growing and more stable. They focus on a three-tiered delivery approach: same-day, 2-day, and Fresh/Frozen options.
Wrapping Up 🎬
In the world of retail, where trends come and go, and consumer preferences evolve rapidly, Costco stands as an enduring testament to the power of data-driven decisions.
Through the lens of statistics, we've uncovered the secrets behind its success: the unwavering commitment to value, the strategic global expansion, the broad appeal to diverse demographics, the dedication of its employees, and the embrace of digital commerce.
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These statistics tell the story of a company that has not only weathered the storms but has thrived, adapting and innovating with each passing year.
As we wrap up our journey through the aisles of Costco's statistics, we are left with a profound appreciation for the synergy of data and retail. Costco's ability to understand and respond to the numbers, to turn statistics into strategies, has not only fueled its growth but has also solidified its place in the hearts and wallets of millions.
As we look ahead, one thing is certain: Costco's statistical story is far from over. With each passing year, new numbers will emerge, new challenges will arise, and new opportunities will beckon. And through it all, the data will continue to guide, shaping the future of this retail giant, and perhaps, the retail industry as a whole
Sources
- Costco Statistics & Facts by Statista
- Costco Revenue by Macrotrends
- Costco Company Profile by Costco
- Costco 2022 Annual Report by Costco
- Costco Statistics by WallStreet Zen
- Costco Demographics by Business Insider
- Costco Employee Demographics by Zippia
- Costco Revenue by Statista
