Price cuts come after Costco raised membership fees for first time in seven years
Costco revealed during a recent earnings call that it has slashed the prices of numerous popular Kirkland Signature items, welcome news for Americans affected by inflation since 2021.
The discounts come as Costco’s plan to raise the price of its membership for the first time in seven years took effect in September.
The wholesale club increased annual membership fees by $5 and $10 in the U.S. and Canada, with “gold star” and business memberships up from $60 to $65, and executive memberships increasing to $130 from the earlier $120.
The cost increase will impact around 52 million memberships, a little more than half of which are the club’s executive members.
Costco last raised membership fees in June 2017.
Membership with the wholesale giant comes with a multitude of perks such as testing of free samples; discounts on food, gas, home insurance, travel and grocery items; and an annual 2% reward on qualified purchases at its 882 warehouses worldwide.