Surprising Habits of the Wealthy: Why the Rich Love Shopping at Costco (2024)

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e=r.searchBoxForm.querySelector("[name=fr]"),n=r.searchBoxForm.querySelector("[name=fr2]");e&&r.config.searchBox&&r.config.searchBox.params&&r.config.searchBox.params.fr&&(e.value=i.searchBox.params.fr,e.disabled=!1),n&&r.config.searchBox&&r.config.searchBox.params&&r.config.searchBox.params.fr2&&(n.value=i.searchBox.params.fr2,n.disabled=!1),r.searchBoxForm.submit()}}),1e3)},r.recognition.onspeechstart=function(){},r.recognition.onspeechend=function(){r.recognition.stop()},r.recognition.onerror=function(){r.speechText&&(r.speechText.innerText=r.i18n.t("search.voice.recognition_error")),r.hideTrending(r),r.showRetryLink(r),r.errorAudio.play()},r.recognition.onaudiostart=function(){r.speechButtonContainer&&r.speechButtonContainer.classList.add("listening")},r.recognition.onaudioend=function(){r.speechButtonContainer&&r.speechButtonContainer.classList.remove("listening")},r.recognition.onsoundstart=function(){r.hideTrending(r),r.noSpeech=!1,r.speechButtonContainer&&(r.speechButtonContainer.classList.remove("listening"),r.speechButtonContainer.classList.add("speaking"))},r.recognition.onsoundend=function(){r.speechButtonContainer&&r.speechButtonContainer.classList.remove("speaking")},r.recognition.onstart=function(){r.recognitionInit(r),r.startRecognition(r)},r.recognition.onend=function(){r.isRecognitionStart=!1,0==r.noSpeech&&""==r.speechResult&&(r.speechText&&(r.speechText.innerText=r.i18n.t("search.voice.recognition_nomatch")),r.hideTrending(r),r.showRetryLink(r),r.errorAudio.play())},document&&document.dispatchEvent&&document.dispatchEvent(new Event("VOICE_JS_READY"))}}o.I18n=m,o.prototype.renderPermissionGuide=function(e){var n='\n

    \n

    \n

    \n

    \n

    \n

    \n

    \n

    '.concat(e.i18n.t("search.voice.permission_title"),'

    \n

    ').concat(e.i18n.t("search.voice.permission_text"),"

    \n

    \n

    \n

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    \n

    \n

    \n

    \n

    \n

    \n \n \n \n \n \n \n

    \n

    \n

    \n \n \n '.concat(e.i18n.t("search.voice.recognition_retry"),'\n

    \n

    \n

    \n

    \n

    \n

    \n ').concat(e.i18n.t("search.voice.trending_title"),'\n \n

    \n

    \n

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t,o,i,r=e.getConfig();if(n.ybar&&"desktop"===r.device&&(null===(t=r.bucketConfig)||void 0===t?void 0:t.highlight_searchassist)&&(null===(o=r.bucketConfig)||void 0===o?void 0:o.overlay_class)){n.ybar.setAttribute("data-ovrly-bkt",r.bucketConfig.overlay_class),null===(i=n.searchForm)||void 0===i||i.classList.add(Un[r.bucketConfig.overlay_class]);var a=document.createElement("div");a.classList.add(Un.overlay,Un[r.bucketConfig.overlay_class]),document.body.appendChild(a),e.onDestroy((function(){document.body.removeChild(a)})),e.addElementListener(n.searchForm,"focusout",(function(e){if(n.searchForm&&n.searchInput){var t=e.relatedTarget;t&&!n.searchForm.contains(t)&&window.YAHOO.SA&&window.YAHOO.SA.apps&&window.YAHOO.SA.apps[0]&&window.YAHOO.SA.apps[0].view.shown&&window.YAHOO.SA.apps[0].view.hide()}}))}}(e,n),zn(e,n),n.voiceSearchBtn&&function(e,n){var t=e.getConfig(),o=t.locale,i=function(){var e,t;(null===(t=null===(e=window.YAHOO)||void 0===e?void 0:e.Util)||void 0===t?void 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    Surprising Habits of the Wealthy: Why the Rich Love Shopping at Costco (2024)

    FAQs

    Surprising Habits of the Wealthy: Why the Rich Love Shopping at Costco? ›

    The rich love Costco because they can buy in bulk and save money on everything from toilet paper to designer handbags. Plus, Costco's Kirkland Signature brand offers high-quality products at even lower prices. It's a smart way to shop, no matter how much money you have.

    Why do rich people love Costco? ›

    High-Quality Products. “The store boasts a wide range of premium-quality products at prices that are hard to beat, with their Kirkland Signature brand being a customer favorite,” said Susan Anderson, founder of The Worthy Goods, a guide for consumers looking to make conscious purchasing decisions.

    Why do people love Costco so much? ›

    When compared to other similar retailers, Costco's competitive advantage lies in its own private label, its discount prices, and its membership dues. This has provided customers with a product that they can rely on at low prices.

    Why Costco is the best store ever? ›

    Bottom line. Shopping at Costco is preferable to traditional grocery stores for many people. This is because of its low prices, unique and large selection of products, free samples, and cheap food, all which will help you keep more money in your bank account.

    Why do consumers like Costco? ›

    Costco's ability to maintain customer loyalty even during economic downturns is based on its value proposition. By offering consistent value with strategic product selection, private label products and competitive pricing, Costco ensures that customers continue to return, even in tough economic times​​​​.

    Is Costco upper class? ›

    COSTCO AFFLUENCE: You might be surprised to know that 54% of CostCo's Wholesale Club (CWC) members are considered wealthy, or "affluent", with only 15% just "getting by" or "poor". BUSINESS VS CONSUMER: Approximately 24% businesses, 76% individual consumers.

    What is the average income for a Costco shopper? ›

    It's important to note that the typical Costco shopper has a considerably higher household income than those who rely on Target and Walmart: $128,000 versus $80,000.

    Why do old people like Costco so much? ›

    The membership benefits available to seniors are plentiful

    Here are a few ways that seniors can save money with a Costco membership card in their wallets: Discounted prescription drugs. Affordable hearing aids. Low-cost eye exams and discounts on lenses and frames.

    Do millionaires shop at Costco? ›

    Millionaires are often some of the most frugal people around, because they know just how hard they have to work to make and maintain their level of income. Costco, the wholesale retailer of everything from food to furniture, is a favorite choice even for millionaires, because of its affordability and convenience.

    Why do boomers love Costco? ›

    In addition to positioning itself as the most cost-effective solution for Baby Boomer products, with Costco's focus on service and practicality, the brand is emerging as a leader among Boomers — it's the third leading retailer among Baby Boomers' spend.

    What are Costco's weaknesses? ›

    Although Costco has experienced tremendous success, there are several risks to its business model.
    • Consumer Preferences. Changing consumer preferences could affect Costco. ...
    • Memberships. One of the biggest risks with Costco's business model is its dependence on memberships. ...
    • Omnichannel Experiences. ...
    • Bulk Items Delivered.

    What is Costco biggest seller? ›

    Toilet paper

    Costco's best-selling item is its Kirkland Signature Bath Tissue. It sells more than a billion rolls every year, bringing in over $400 million dollars in revenue. Costco's toilet paper is thicker and more absorbent than most other brands. It is also less expensive per sheet than many other brands.

    Who is Costco's target audience? ›

    But compared to its peers, the wholesale club is more popular with higher-income millennial and Gen X households. In particular, Asian-American shoppers are even bigger fans of the brand, and are nearly twice as likely as the average US consumer to shop at Costco, according to Numerator's data.

    Why is Costco so addictive? ›

    So the core ingredient in Costco's addictive drug is its value proposition that stands for high-value products at the lowest prices. How does Costco manage to offer such down-and-dirty prices? For starters, it has enormous economies of scale.

    Who is Costco's most common customer? ›

    Numerator found that Costco's typical shopper in the US is an Asian American woman between 35 and 44 years old who is married and living in a city in the Pacific Northwest. (Costco was founded in Seattle and is based in Washington.)

    Why is Costco so special? ›

    Commitment to quality. Costco warehouses carry about 4,000 SKUs (stock keeping units) compared to the 30,000 found at most supermarkets. By carefully choosing products based on quality, price, brand, and features, the company can offer the best value to members.

    Are Costco owners billionaires? ›

    From humble beginnings as a grocery bagger to becoming a billionaire business mogul, James Sinegal, co-founder and retired CEO of Costco Wholesale, has etched his name into the annals of American retail history.

    What is the average household income of Costco members? ›

    Costco has an income index of 130 and an average household income of $81,200 compared to the overall average of $62,500. Walmart+ is the lowest, with an average household income of $61,500. All three clubs show a high proportion of households with members under 18.

    Why do you spend so much money at Costco? ›

    Costco members frequently spend more money than they plan to, and for a variety of reasons. The fact that everything comes in huge packages is only one reason why. Costco is highly effective at getting people to make impulse purchases, too.

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