For years, Costco has been synonymous with unbeatable prices and carefully selected quality products. Its business model, based on exclusivity for its members, has earned the loyalty of millions of customers. Now, the American chain is about to surprise all its most committed members with a new strategy that promises to change the shopping experience forever.
Starting June 30, Costco will take a historic step. Executive members, who pay to access the company's highest membership tier, will enjoy one hour of exclusive access before all other customers.
But that's not all, since the benefits go much further. These members will receive a monthly compensation, which includes credits for online shopping and discounts on various company services.
Costco wants to reward its most loyal members in the United States
Costco's decision to reward its executive members is not a casual gesture. This measure is designed to further strengthen ties with those who choose the most exclusive offerings in the store.
According to several news outlets, members of this select group will receive $10 per month in credits to shop through Instacart, the home delivery platform. In addition, they will have $150 in discounts for services within Costco, which represents an excellent opportunity to take even greater advantage of the store's benefits.
This type of incentive is not completely new for Costco. In the past, similar measures were already tested, such as extended hours for premium members. However, that initiative was eliminated after a short trial period.
With this new strategy, Costco seeks to implement a lasting and consistent measure, which will help build a solid long-term relationship with its most loyal customers.
A strategic move in a competitive market
This move comes in a context where major retail chains, such as Sam's Club and Walmart, are also renewing their loyalty programs. Costco, however, has decided to go a step further, making sure its executive members feel their investment is worthwhile. By offering exclusive benefits such as early access to stores, Costco not only seeks to reward its members, but also to build a shopping experience that only they can enjoy.
It should also be noted that Costco is constantly evolving. Its May earnings report showed that improvements in gas station hours had a positive impact on sales. This reinforces the idea that the company is willing to keep innovating and to experiment with measures that truly improve the experience of its most loyal customers.
Costco remains a key player in the big-box market, but with this change, it is sending a clear message: it won't settle for being just another store. With this new measure, it wants to keep its most loyal customers for the long term, while strengthening its position against the competition.