Costco Wholesale is a household brand. It operates a worldwide chain of membership warehouses which offer high-quality, brand-name merchandise at a lower cost than the typical retail stores. To demonstrate the vast global reach of Costco the company, our analysis team gathered the following information:
Costco has 581 stores in the United States and 825 warehouses all over the world.
Costco boasts 116.6 million members as of May 20, 2022.
Costco employs 288,000 people, and 156,000+ employed full-time.
Costco earns $195.93 billion in annual revenue.
Costco is the sixth largest retailer in the world , and the third-largest in the US just after Walmart as well as Amazon.
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Costco Company Statistics
It was in 1976 that the first Price Club branch opened at San Diego. In the beginning the organization (then called Price Club) served only small-sized companies. After a few trials and errors they realized that they could grow their business by also catering to clients that were not members of the business.
The company started opening warehouses and became the first business to go from 0 and to reach $3 billion sales just six years. Costco is a brand that Costco brand is committed to maintaining simplicity. This is the most important factor to their success as shown by the following figures:
Costco has 825 warehouses across the globe.
581 of the locations are located in 581 of those locations are in the United States and Puerto Rico. Costco also has locations in Canada as well as 29, locations within the United Kingdom, 14 locations in Taiwan and sixteen locations across Korea and 30 locations in Japan forty locations across Mexico thirteen locations in Australia three locations in Spain two locations in France and one location both at Iceland as well as China.
Costco has increased by 9.2 percent between 2019 and 2020.
This is consistent with previous expansion for the company. From 2016 until 2017, the business was growing by 8.7 percent. The next year (2017-2018) they increased by 9.7 percent. From 2018 until 2019, they experienced a growth of 7.9 percent.
Costco has the highest wages for retailing with employees earning an average of $20 per hour.
Costco has always been highly praised for the treatment and compensation for its employees. Employees who are salaried can get benefits following their first month at work while full-time employees will receive rewards after 90 days. Costco also provides an attractive 401(k) scheme.
In the last period (FY2021 3rd Quarter), Costco reported net sales of $44.38 billion.
The number is comparable to $36.45 billion in the same period in the previous year. The net sales of the business have risen by 17.7 percent in 2021, to $130.61 billion, compared to $110.94 billion during the same timeframe in 2020.
In 2021 the year 2021, the annual percentage change in Costco’s stock (NASDAQ COST) was 18.43 percent, with the stock’s average price of $376.50.
The annual change in the stock has not been a low since the year 2016, which saw a decline of 0.86 percent. The record-breaking high Costco closing price for the stock was $452.89 on the 16th of August 2021. However, the median Costco stock price over the past 52 weeks was $372.27.
Costco Store Statistics
Costco has stores all over all over the world, with the majority of which are located inside the United States, with Canada and Mexico as their third and second markets. New Costco stores are opening regularly with new warehouses set to open by the end of 2021.
It is interesting to note that Costco’s way of selling is quite different from other retailers in the retail sector. For instance, Costco does not advertise or inform customers about where to look for items or offer bags to store their goods.
However, the company is among the most profitable in the field, frequently noted for the way in which they treat and reward their employees. Take a look at these statistics for the store:
Costco stores vary between 73,000 square feet to 205,000 sq ft.
The average size of a Costco store is 143,000 square feet.
The month of July in 2021 saw the sales of Costco’s stores increased by nearly 17%..
The company’s monthly review was conducted on July 1 the retailer announced the net sales for July 2021 in the range of $15.21 billion, which is up from $13.04 billion the year before. The actual increase was 16.6 percent over 2020.
Its most sought-after product it Kirkland Signature Bath Tissue of which Costo sells over a million rolls every year, bringing an estimated 400 million dollars in the product alone.
The second most popular item is Costco’s rotisserie chickens that Costco earns between $30 and $40 million every year. Bacon ranks as the 3rd most sought-after item, hot dogs come in fourth and gas is the fifth most well-liked item sold by this large retailer.
Costco Customer Statistics
Costco is well-known for turning the shopping at warehouses into a pleasurable shopping experience for customers. Costco has a avid and wealthy customers of all sorts with its wide range of merchandise that goes other than food and drinks.
The items include diamond rings, gasoline, car products wedding dresses, caskets and much more. Our analysis of data has uncovered information about the many customers Costco provides regularly:
The typical Costco customer buys nine items, which amounts to $114 each time they visit.
The average Costco consumers make around 23 journeys in a year, and visit the wholesale club on average every between two and three times. Around 11 percent of the average Costco customer’s purchases are made in the retail store and is in line with what the average consumer invests in Amazon.
The most popular Costco customer across the United States is an Asian American woman who is between 35 and 44 married to an undergraduate degree of four years (or greater) and making more than $125,000 annually.
Costco’s second most popular group of customers is who are over 65. Hispanic as well as Caucasians are the second most popular races that tend to visit Costco. The people earning between $100k and 125k are the second most popular and those who earn between $80k and $100k are third.
23 percent of Costco customers do not have a college degrees, while 34% of them have either a bachelor’s or associate’s degree and 43 percent of Costco customers have degrees that are advanced. Additionally 54 percent of Costco customers have children in contrast to the 46% of customers who do not.
The Costco annual fee for membership revenues continue to rise in steady increments, increasing by 5.7 percent between 2019 and 2020.
Costco Regional Statistics
Costco’s global headquarters are within Issaquah, Washington, which is an outlying area of Seattle. In 2005, the biggest Costco warehouse was located within Hillsboro, Oregon. But, the location was outstripped by a new warehouse that opened in Salt Lake City, measuring 235,000 square feet.
The company has warehouses that are in operation throughout the United States, demonstrated by the following figures:
46 states out of 50 have Costco warehouses available to residents of the states.
Washington D.C. also has one Costco store. States that do not have Costcos comprise Maine, Rhode Island, West Virginia, and Wyoming.
California is the one state that has the largest number of Costco stores, which have more than 131 Costco locations to CA residents.
While it is second, Texas only has 33 Costco stores. Third place is Washington has 32 stores for residents along with Florida (28), Illinois (23) as well as New Jersey (21) following.
As one of the more stable retailers worldwide Costco’s outlook on the future is bright. The competitive advantage is derived from the fact that they have the lowest markup average in the warehouse club market.
Costco FAQ
What proportion of the club wholesale market is Costco has?
Costco holds 55.5 percent of the market for wholesale clubs. This percentage has fluctuated between 52-56% during the last two years. Sam’s Club and BJ’s Wholesale are in third and second spot, respectively, with 36.2 percent and 8.3 percent, respectively.
What is the most-busiest Costco anywhere in the world?
There is a reason that Iwelei Costco on Oahu Island in Hawaii is among the most crowded of its kind in the entire world. Costco estimates that one four residents on Oahu Island are Costco members. With Oahu being home to over 950,000, it’s not difficult to understand why this area is a major source of people walking through the streets.
There actually are there are actually four Costcos on Oahu However, the Iwelei location is raking in more than double in annual revenues as the typical Costco store.
How much can a Costco get in a day?
One Costco produces $526,000 every day, which is an average. In addition, with the annual average sales for each warehouse of $192,000,000 and 365 days of the year and the average Costco location earns over one million dollars every day.
What is the reason Costco brand referred to as Kirkland?
Costco brand is known as Kirkland since in 1992, at the time that private label first came out the Costco corporate headquarters were located in Kirkland, Washington. Costco relocated the headquarters of its company to Issaquah, Washington two years after that in 1994.
Conclusion
Despite its odd approach to business, Costco Wholesalers is a business that is able to drive sales and growth at a rapid growth rate. Costco Wholesalers has earned billions in profit and has cultivated a tremendous customer loyalty , as it continues to expand and develop new products for the future.
The retailer has a diverse membership of all kinds, from famous people to those who are on a tight budget, looking for the thrill of Costco’s changing inventory. It’s not a surprise from this information it’s clear that Costco is a real rival in the retail industry — and will remain for the long haul.