Costco by the Numbers: 22 Surprising Stats
Costco is the nation's third-largest retailer in market share, behind Walmart and Amazon according to the National Retail Federation. The company's net sales topped a whopping $140 billion in 2021, up 15.8% from the year before. But those aren't the only impressive numbers associated with everybody's favorite warehouse club. From rotisserie chickens to giant stuffed bears, there are plenty of eye-popping facts and figures about Costco.
Related: 20 Things You Probably Didn't Know About Costco
This includes 578 locations in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 29 in the United Kingdom, and 31 in Japan. There's even a Costco in Iceland; 1 in 8 Icelanders signed up for membership before it even opened its doors, according to Quartz.
Related: 34 Companies That Changed American Culture for Better or Worse
Most cardholders in this May figure are basic Gold Card members, paying $60 a year. Executive members — around 22% of Costco's paid cardholders as of spring of 2021 — pay $120 and can get a 2% reward on certain purchases up to $1,000 a year.
Want to become a Costco member? You can apply here.
Related: 12 Costco or Sam's Purchases That Make Back the Membership Fee
The club sends direct mail and coupons to existing members, but spends zilch on marketing itself to the larger public. In contrast, Amazon spent $10.4 billion on advertising in 2021, Statista says, while Statstic pegs Walmart's spending at $3.11 billion.
Related: Costco, Trader Joe’s, Aldi: How Do They Stay So Cheap?
For more great Costco tips, please sign up for our free newsletters.
The average Costco warehouse store is comparable in footprint to a city block in Manhattan. The smallest Costco is 80,000 square feet, and the largest is 230,000 — all figures that have risen from just a few years ago. Costco's stores are almost 10% larger on average than those of its major rival, Sam's Club.
Related: 12 Tips for Shopping at Costco If You Live in a Small Home
By all accounts, Costco employees — including more than 156,000 full-time U.S. workers — are a happy bunch: Turnover rate is only 6% to 7% for employees of over a year, according to Barron's; it's more like 60% for retail overall, according to the National Retail Foundation.
Related: These Stores Are Closing for Thanksgiving This Year
This might sound like a lot, but consider this: The average Walmart Supercenter usually carries around 120,000 products, according to Slate.
Related: 16 Reasons Why Costco Is Such An Annoying Place to Shop
The 3-pound birds are fully cooked and seasoned, and they sell for just $5 — cheaper than at most supermarkets. Costco loses money by keeping the price so low, but its overall revenue has surged right along with chicken sales, the company's top executive, W. Craig Jelinek, said at a virtual shareholder meeting last January.
Related: 10 Quick Recipes to Make With Costco's $5 Rotisserie Chicken
Costco has kept the price of a hot dog and soda at $1.50 since the mid-1980s, which may be why it's selling so many. Jelinek says his predecessor as CEO threatened to kill him if he raised the price.
Related: 23 Costco Foods With Cult Followings
Costco shoppers are much wealthier than the typical big-box-store customer. Household income for the average Walmart shopper is $80,000, according to some accounting and compared with $65,00 for Target.
Related: I Shopped at Costco for the First Time and This Is What I Learned
Costco's lowest wage jumped in October, though employee longevity means the average worker takes home $24 hourly, the company says. In comparison, Walmart's says some workers still start at $13.
Related: Chipotle, Costco, Under Armour and Other Companies Paying at Least $15 an Hour
A few years ago it was known that one-fifth of the warehouse club's stores are turned over to its private Kirkland Signature label, but the products account for 31% of total sales as of 2021. One of the top sellers is toilet paper: Costco sells more than 1 billion rolls of it annually.
Related: 24 Costco Brand Products That Shoppers Love
Turnover means there are always new products for members to browse, even if they go in monthly, and it's up at Costco from the 12-time annual turnover of the past few years. It also means Costco doesn't have to rely on its own capital to finance inventory, The Motley Fool points out.
Related: 33 Things Not to Buy at Costco, Sam's, or BJ's
This Size 7 platinum band available on Costco.com in August features a near-colorless 6.55-carat round diamond, according to the International Gemological Institute.
Related: 25 Surprisingly Expensive Products From Costco
Speaking of rings, this is how much a U.S. district court judge ruled Costco owed Tiffany & Co. for describing some of its rings using the Tiffany name. Costco has argued it was using the term generically, but saw the initial ruling rise from a $19.4 million pain to $25 million in 2019.
Related: 27 of the Biggest Lawsuit Settlements Against Companies
Costco sold 689,000 cars — new and pre-owned — through its no-haggle auto-buying program in 2020, ranking it alongside the top dealership groups in the nation.
Related: Yes, You Can Buy a Car Through Costco — And These Are the Most Popular Models
Costco classifies certain products as "triggers" — that is, items members buy repeatedly and use every day, including paper towels and light bulbs. They are positioned strategically around the store in hopes customers will make impulse buys on the way to finding them.
Related: 20 Costco Mistakes That Could Cost You
Televisions, major appliances including freezers and dishwashers, and the like get a limited time to come back if they don't work out. For almost everything else, Costco has one of the most generous return policies in the retail world: a full refund at any time.
Related: 28 Products Costco Will Take Back That Are a Pain to Return Anywhere Else
In addition to health benefits, many employees are eligible for a 401(k) match, dependent care assistance, a counseling program, short- and long-term disability, life insurance, employee stock purchasing, and a health-care reimbursement account.
Related: Why Trader Joe’s Employees Are Surprisingly Helpful and Happy
While cost varies significantly by location, gas is typically 6 to 12 cents cheaper a gallon if members fill up at Costco stations, compared with competitors.
Related: 11 Ways Costco Can Save You Money on Your Car
By changing the shape of its Kirkland Signature cashew containers to square from round some years back, the warehouse club could fit 432 jars on a pallet, up from 288.
Related: 10 Ways to Make the Most of a Costco Business Membership
This plush show-stopper weighs 48.5 pounds, or around as much as an average 6-year-old boy. (And is sometimes out of stock, despite being a kind of consumer sensation.) For shoppers who don't have the space for the extra-large version, Costco also sells a 53-inch bear and a 25-inch bear.
Related: You Won't Believe How Much These Collectibles Fetched at Auction
While the company says its core business model depends on getting shoppers inside its bricks-and-mortar warehouses, it does sell online — and a predictable surge accelerated those online sales during the coronavirus pandemic. Online sales grew 50% in the fiscal year in which COVID forced the world inside, compared with 8% the year before, Digital Commerce 360 reports.
Related: The Big Differences Between Costco and Costco.com
Like Cheapism's content? Make sure to follow us here.
