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Costco membership fees are going up

Costco membership fees are going up
It's your ultimate grocery store guide. We're solving three problems, cost waste and what to make. Let's start with cost target announces weekly savings every Sunday for Kroger and Aldi. It's Wednesday. Wal Mart partners with the coupon app. Flip to share curated rollback deals every Wednesday. Costco posts monthly deals online and also shares weekly sales through flip every Friday. But don't let those groceries go bad. That brings us to our next problem. Waste. The average family of four throws out $1600 *** year in produce. That's your money going in the trash. The USDA S Food Keeper App can help you store your groceries correctly from produce to poultry to beef. You know, all this stuff. It's gonna tell you how long it can last in your fridge, how long it can last in your freezer whether you should keep it out. So let's take uh beef, for example, here's some ground beef right here. I go into the Food Keeper App. I come right over here to ground beef. See right there. Click on it and boom, it just tells me immediately 1 to 2 days if refrigerated from the date of purchase. So keep it in the fridge. It's good for *** couple of days, 3 to 4 months if I freeze it. And now, why don't we do chicken? Right. Let's do chicken there. We have *** fight in my house all the time. About how long the chicken should last. 1 to 2 days. That's it. From the store. If you refrigerate it, nine months, if you freeze it, our final problem figuring out what to make. We found an app called Super Cook. That'll come up with ideas for you based on what's already in your fridge, you literally open it up. OK? And there are all these, you know, vegetables, mushrooms, fruits, berries, nuts and seeds, whatever it it goes on and on and you can type in the ingredients you have, then it'll give you *** recipe to cook with that stuff. But I like it even easier. There's *** little microphone button right there. We can literally hit the microphone button, milk chicken cheese sticks. I continue naming pretty much everything else in my fridge and freezer and it literally recorded everything I just said. OK, right into the app. Then I hit add to ingredients nice and good and then watch this. See that right there. See recipes just click on that and boom, it gives me all of these recipes that you're not wasting groceries. It's all right here and it's free another tip by the generic brands. I've tested this before. You've seen it all here, you get *** dollar off here, *** dollar off there. Sometimes it's even more and all that adds up by the time you get to the checkout counter and by the way, it's like the same stuff I'm gonna share these tips on my website, Rawson reports.com back to you.
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Updated: 6:08 AM CDT Jul 11, 2024
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Costco membership fees are going up
CNN logo
Updated: 6:08 AM CDT Jul 11, 2024
Editorial Standards
It’s soon going to cost more money to get your foot in the door at Costco. But the good news is your hot dog is still $1.50 — for now at least.The retailer is raising membership fees by $5 to $65 a year in the U.S. and Canada, Costco announced Wednesday. This marks the first time in seven years Costco is raising membership fees.Additionally, Costco’s premium “Executive Membership” is going up by $10 to $130 a year. But those members will soon be able to earn a maximum of $1,250 in rewards annually versus $1,000 currently.The company estimated that 52 million memberships will be impacted, a little over half of which are Executive members, Costco said.Annual fees have been one of the biggest profit-generating areas for Costco, helping it offset expenses to keep its prices down. Last year, Costco earned $4.6 billion in revenue from membership fees, an 8% increase from 2022.The fee hikes are also occurring as Costco, like streaming companies, has been taking more measures to ensure fewer people are hitching a ride on other customers’ memberships.Costco’s hikes, which go into effect on Sept. 1, come more than two years after key rivals Sam’s Club and Amazon raised their membership fees.On Wednesday, Costco also announced that net sales were up 7.4% for the five weeks ended on July 7 compared to last year.Shares of Costco jumped over 2% in after-hours trading following the news.

It’s soon going to cost more money to get your foot in the door at Costco. But the good news is your hot dog is still $1.50 — for now at least.

The retailer is raising membership fees by $5 to $65 a year in the U.S. and Canada, Costco announced Wednesday. This marks the first time in seven years Costco is raising membership fees.

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Additionally, Costco’s premium “Executive Membership” is going up by $10 to $130 a year. But those members will soon be able to earn a maximum of $1,250 in rewards annually versus $1,000 currently.

The company estimated that 52 million memberships will be impacted, a little over half of which are Executive members, Costco said.

Annual fees have been one of the biggest profit-generating areas for Costco, helping it offset expenses to keep its prices down. Last year, Costco earned $4.6 billion in revenue from membership fees, an 8% increase from 2022.

The fee hikes are also occurring as Costco, like streaming companies, has been taking more measures to ensure fewer people are hitching a ride on other customers’ memberships.

Costco’s hikes, which go into effect on Sept. 1, come more than two years after key rivals Sam’s Club and Amazon raised their membership fees.

On Wednesday, Costco also announced that net sales were up 7.4% for the five weeks ended on July 7 compared to last year.

Shares of Costco jumped over 2% in after-hours trading following the news.