Costco has announced it will open more stores in different cities and countries. According to the company, its goal is to open at least 30 stores each year, 15 in international markets and another 15 within the country. This is intended to further strengthen its position in the retail market and keep up with its competition, said Chief Financial Officer Gary Millerchip. The next openings will be in Quebec, Florida, Washington, Texas, Nevada, Mexico, and Canada.
Costco is unveiling its new openings program, while Target is rolling out new deals for its shoppers
Large retailers are on the move. On one hand, Costco is unveiling its new openings program, while Target is rolling out new deals for its shoppers, as it will adjust its price-matching policy, as it has done since 2013. These have been challenging times for Target, “including five consecutive months of declining consumer confidence, uncertainty about the impact of potential tariffs, and the reaction to the updates we shared about (DEI) in January,” explained Target CEO. However, it’s important to understand that price matching will be valid for customers who find cheaper items in its stores or on its websites two weeks after their purchase.
Costco: to build on the trust placed in it by consumers by expanding its locations
On the other hand, LiDL has already entered the US market and plans to expand and increase the number of branches in the country. The German giant has already announced the opening of its next branches in New York State and intends to continue expanding its market throughout the US.
With all this, Costco continues to build on the trust placed in it by consumers by expanding its locations. On social media, the supermarket giant’s most loyal customers are applauding the good news.
These are the opening dates and locations:
Rimouski, Quebec (opening August 5)
The Villages, Florida (opening August 6)
North Guadalajara, Mexico (opening August 7)
Richland, Washington (opening August 8)
Allen, Texas (opening August 15)
East Newmarket, Ontario, Canada (opening August 20)
Spring Valley, Nevada (opening August 21)
With the new benefits, more customers will become Executive Members
Meanwhile, Costco has modified its opening and closing hours for some customers. With the new hours in place, Executive Members can enter stores starting at 9:00 a.m. daily. Meanwhile, Gold Star Members can continue to access stores starting at 10:00 a.m. Sunday through Friday and 9:30 a.m. on Saturdays. On the other hand, some workers initially feared it would be “an absolute nightmare” without additional staff to cover the overtime, but stores managed to maintain organization and supplies during the exclusive hours.
And in any case, this means profit for Costco. Less than half of its members pay for Executive Membership, but they account for more than 73% of the company’s total sales. Therefore, with the new benefits, more customers will become Executive Members. That’s the prediction.
Membership fees are practically pure profit, and by creating incentives for customers to upgrade to the premium tier, Costco achieves both increased membership revenue and increased sales volume.
Costco is the fifth-largest retailer in the United States
Recall that Costco was founded in 1983 by James Sinegal and Jeffrey Brotman. The company is the largest price-club chain in the world. It is the second-largest retail chain in the world after Walmart. Third place is held by the giant Carrefour. Costco is the fifth-largest retailer in the United States. Therefore, we are not talking about just any supermarket.
Costco hasn’t just revolutionized shopping in the United States. Its business vision has spread to countries around the world. It currently has more than 558 stores in 44 states and four stores in Puerto Rico. It is also present in countries such as Spain, France, Australia, China, Sweden, South Korea, Japan, as well as neighboring Canada and Mexico.
