Marketing

Costco increasing membership fees come September

Photo: MKPhoto - stock.adobe.com

July 11, 2024

Costco will increase its membership fees as of September 1, impacting 52 million members.

All U.S. and Canada Gold Star, Business and Business add-on members will pay an annual fee of $65, according to a Costco release on its June financials. The current membership is $60.

The annual membership fee bump comes seven years since the last increase in 2017.

Also effective September 1, annual fees for Executive Memberships in the U.S. and Canada will increase from $120 to $130 (Primary membership of $65, plus the Executive upgrade of $65), and the maximum annual 2% reward associated with the Executive Membership will increase from $1,000 to $1,250.

The wholesaler reported net sales of $24.48 billion for the retail month of June, an increase of 7.4% from $22.78 billion last year. Costco operates 882 warehouses, 609 of which are in the U.S.

This April, due to long lines of mostly non-members, Costco began requiring membership cards for those buying food from the wholesaler's outdoor food courts.