Costco Sees Surge in Younger Members Despite Less Spending

Costco CEO says younger people are signing up for memberships
Younger members initially purchase less than older generations
Costco focuses on volume not margins
Gold bars at $2k sell out quickly on Costco's website
Gold drives more shoppers to Costco's website

cnbc.com

Relevant topic timeline:

9/28/2023

Costco Mulls Membership Fee Increase, Cracks Down on Card Sharing

Costco's Chief Financial Officer suggests that a price increase for membership is likely in the future, although the timing is uncertain, with the last increase occurring in 2017; this comes as the company cracks down on unauthorized card-sharing among non-members.

9/28/2023

Costco to Raise Membership Fees for First Time Since 2017

Costco is considering raising its annual membership fees, which could impact the 130 million shoppers at its 591 stores across the country.

10/18/2023

Costco CEO Stepping Down After Decade Of Quintupling Stock Price And Expanding To 800 Warehouses Worldwide

Costco CEO Craig Jelinek will step down at the end of the year, with President and COO Ron Vachris to replace him; Costco's membership-based business model has helped the company thrive during the pandemic.

10/18/2023

Costco CEO Craig Jelinek to Step Down in January, Replaced by Veteran COO Ron Vachris

Costco CEO Craig Jelinek will step down on January 1st, with Ron Vachris, the retailer's president and chief operating officer, taking over as the new CEO.

10/18/2023

Costco CEO Jelinek to Retire in 2024, Successor Named in Long-Planned Transition

Costco's CEO Craig Jelinek will step down from his position on January 1, 2024, with Ron Vachris, the current president and COO, set to take over as his successor.

10/19/2023

Costco Thrives Under CEO Jelinek's Leadership with More Warehouses, Low Prices on Rotisserie Chicken and Hot Dogs

After over a decade as CEO, Craig Jelinek is stepping down from his role at Costco, with Ron Vachris set to take over, as Costco has experienced significant growth in revenue, international presence, and the number of warehouses under Jelinek's leadership.

10/19/2023

Costco CEO Craig Jelinek stepping down after 11 years of strong growth; promoted veteran Ron Vachris to take over

Costco CEO Craig Jelinek will step down by the end of the year after a more-than decade reign, with Ron Vachris, a longtime employee, taking over as chief executive in the new year, as the company continues to see strong sales growth and increased annual revenues.