The American supermarket chain Costco has surprised by announcing a series of innovations that will directly impact its members' experience. Although it has historically preferred to watch how others implement technological advances, the company has begun to take more decisive steps toward digital transformation. In fact, during the presentation of results, the CFO highlighted that advances have been made in Costco's technological roadmap.
One of the new features has been the incorporation of a tool in the mobile app that allows members to check product availability. Also their prices at their local store. This function, which has recorded more than 43 million visits, considerably improves shopping planning for users.
Additionally, the company has taken a significant step in its payment options by integrating the Affirm platform. This tool allows members to split purchases of more than 500 euros into monthly payments. It also offers the possibility to choose between different payment plans that vary between three and 36 months, with interest rates between 10% and 36% APR.
Increasingly more convenience for its customers
This way, Costco avoids the need to educate users about its operation, as many are familiar with the platform. The changes don't stop there. The company has also reported on the success of Costco Next, a digital marketplace that connects members with exclusive products.
During the last holiday season, this channel recorded record sales. Approaching 100 active supplier sites and showing significant growth in the average order value. Meanwhile, Costco continues to focus on improving the member experience through more personalized communications.
A market that is booming
"We still have a lot of work to do in this area, but we are excited about the potential of these improvements," added the CFO. In financial terms, the company reported solid results in comparable sales, with an 8.6% increase in the United States. Although in the international market there was a slight decrease of 0.6%, when adjusted for fuel deflation and exchange rate.
Additionally, overseas sales grew by 6.5%. This way, Costco seems to be making key strategic decisions that will transform the way its members interact with the chain. Marking, without a doubt, a significant shift in its technological approach.