Starting June 30, Costco is introducing an exciting benefit for its Executive Members, offering them exclusive early access to warehouses—a first in five years. Shops will open an hour earlier for Executive Members on weekdays and Saturdays, allowing loyal customers to shop in a quieter setting while taking advantage of their membership benefits.
With a new schedule, Executive Members can enter stores at 9 a.m. Monday through Friday, and enjoy a 30-minute head start on Saturdays. Sunday shopping hours will mirror the weekday pattern. For all other members, doors will open at 10 a.m. on most days, creating a designated shopping experience that prioritizes those who contribute significantly to Costco’s business.
To further enhance the value for Executive Members, Costco is introducing a monthly $10 credit towards either Same-Day delivery or Instacart orders over $150. This seamless perk is automatically credited, significantly benefitting families who rely on delivery services, potentially saving them up to $120 annually.
This initiative comes in response to Executive Members making up 47% of households but accounting for about 73% of Costco’s global sales. Their high renewal rate of 92.8% in the U.S. and Canada ensures consistent revenue for the retailer. Following a recent membership fee increase to $130, these enhanced perks are part of Costco’s commitment to acknowledging their loyal customers.
Additionally, Costco is planning ambitious growth with 27 new warehouses expected to open within this fiscal year, aiming for a total of around 914 locations worldwide by August. CEO Ron Vachris has already made strategic moves, such as extending gas station hours, which have resulted in record sales, and plans for a new standalone site in California by 2026.
These enhancements not only cater to the needs of Executive Members but also position Costco competitively against rivals like Sam’s Club, which has offered similar early entry for premium members. Hence, the effort to please loyal subscribers while boosting sales appears to be a well-calculated strategy.
For existing and potential Executive Members, it is advisable to check membership status through the Costco app, link accounts to Instacart for the upcoming credit, and take advantage of the early shopping hours to experience shorter lines.
This move underscores Costco’s dedication to its premium members, aiming to ensure their shopping experience is rewarding and efficient, ultimately driving more traffic through their doors. With these enhancements, Costco’s commitment to providing value and convenience continues to shine, promising a positive outlook for both the retailer and its loyal customers.