What does Costco want to sell a whole lot more of? Loyalty is the premium the club promotes.
The membership warehouse club says it is dedicated to the best possible prices on quality, brand-name merchandise. With hundreds of locations worldwide, Costco provides a wide selection of merchandise, plus the convenience of specialty departments and exclusive member services, all designed to make the shopping experience a pleasurable one.
The wholesale corporation allows members to shop and enjoy low prices for no-frills, self-service warehouse facilities. They're holding an annual meeting on January 26 for shareholders. The purpose is to elect directors and vote on several proposals.
In the spirit of transparency, as a stockholder, I've been invited to vote and could probably also attend the meeting, but it is going to be held on the west coast and I just returned from there, where the weather is unseasonably cold and damp.
Costco boasts 1 million new credit card rewards program members since switching from Amex to Visa back in June. They also claim to have added nearly 350K new Executive Members in Q1. The company does not report how many users hit the "trifecta" where they are not just members, but Executive Members who also have the Visa rewards card.