Costco Wholesale is a household brand. It operates a worldwide network of membership warehouses that offer high-quality, brand-name merchandise at a lower cost than traditional retail outlets. To illustrate the extensive global reach of Costco the company, our analysis team gathered the following information:
Costco has 581 locations across the United States and 825 warehouses all over the world.
Costco is home to 116.6 million members as of May 20, 2022.
Costco has 288,000 employees including 156,000+ working full-time.
Costco earns $195.93 billion in revenue each year.
Costco is the sixth largest retailer worldwide and the third-largest in the US just after Walmart along with Amazon.
Costco Company Statistics
The year was 1976 when the company’s initial location was opened at San Diego. In the beginning the organization (then called Price Club) served only small-scale companies. After a few trials and errors they realized that they could increase their business by serving customers who weren’t members of the business.
The company started to open warehouses and became the first business that grew from zero up to $3 billion of sales just six years. Costco is a brand that Costco brand believes in keeping simplicity, which is the main ingredient to their success, which is evident by the following statistics:
Costco has 825 warehouses across the globe.
581 of these locations are located in five81 locations in United States and Puerto Rico. Costco also has locations in Canada and 29, locations within the United Kingdom, 14 locations in Taiwan 16 stores in Korea and 30 locations in Japan forty locations across Mexico thirteen locations in Australia three locations in Spain Two in France and one location located at Iceland in Iceland and China.
Costco has increased by 9.2 percent between 2019 and 2020.
This is consistent with previous growth of the business. From 2016 until 2017, the business was growing by 8.7 percent. The next year (2017-2018) the company grew by 9.7 percent, and from 2018 to 2019, they increased by 7.9 percentage.
Costco provides the highest wage for retailing with employees paying an average of $20 an hour.
Costco has been consistently highly praised for the treatment and compensation for its employees. Salary employees are eligible for benefits following their first month at work and full-time employees will receive the benefits within 90 days. Costco also has the most generous 401(k) scheme.
For the latest quarterly (FY2021 3rd Quarter), Costco reported net sales of $44.38 billion.
The figure is comparable to $36.45 billion at the same period last year. The net sales of the company have risen by 17.7 percent in 2021, to $130.61 billion, as compared with $110.94 billion during the same timeframe in the year 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 was not a dip since the year 2016, when it saw a drop of 0.86 percent. The record-breaking high Costco stock price at the time of closing was $452.89 on the 16th of August 2021. The cost per share Costco stock price over the past 52 weeks was $372.27.
Costco Store Statistics
Costco has locations across the globe, the majority of which are located inside the United States, with Canada and Mexico as their third and second markets. New Costco locations are being opened on a regular basis and new warehouses are scheduled to open in the second half of 2021.
It is interesting to note that Costco’s way of sales is very different from other retailers in the retail sector. For instance, Costco does not advertise and does not tell customers the best places to shop or provide bags with their items.
Yet, the business is one of the top-performing in the business, and is often noted for the way in which they treat and pay 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.
For the month July, 2021 sales at Costco were up by almost 17%..
In its monthly report the retailer announced the net sales for July 2021 as $15.21 billion, which is up from $13.04 billion in the previous year. 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 from this particular product.
Second in line 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 sought-after item in the retailer.
Costco Customer Statistics
Costco is well-known for turning the shopping at warehouses into a pleasurable experience for its customers. Costco is a favorite among wealthy and loyal customers of all sorts with its wide range of merchandise that goes other than food and drinks.
The items include diamond rings, gas, automobile products wedding dresses, caskets and much more. The data analysis we conducted gathered data on the variety of customers Costco regularly serves:
The typical Costco customer buys nine items which equals $114 for each trip.
In the average Costco customers make about 23 visits a year, making it to the wholesale club on average every 2 to 3 weeks. Around 11 percent of the Costco customer’s purchases are made at the store and is in line with what the average consumer invests in Amazon.
The most popular Costco customers within the United States is an Asian American woman aged between 35 and 44 married to at least a four-year college degree (or more) and earns more than $125,000 annually.
Costco’s second most popular age group is the one who are over 65. Hispanic as well as Caucasians are the second most popular races that tend to visit Costco. People earning between $100k-$125k are the second most popular while those making $80k to $100k are third.
23 percent of Costco customers don’t have a university degree. 34% of them have an associate’s or bachelor’s level and 43 percent of Costco customers have degrees that are advanced. In addition 54 percent of Costco customers have children, when compared to the 46% who do not.
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Annual Costco membership fees revenues continue to rise in steady increments, increasing by 5.7 percent from 2019 to 2020.
Costco Regional Statistics
Costco’s global headquarters are at Issaquah, Washington, which is an area that is a suburb of Seattle. In 2005, the biggest Costco warehouse was 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 all over the United States, demonstrated by the following information:
46 of the 50 states have Costco stores for residents.
Washington D.C. also has one Costco store. The states that aren’t home to Costcos comprise Maine, Rhode Island, West Virginia, and Wyoming.
California is the State that has the largest number of Costco stores, with more than 131 Costco locations to CA residents.
In second place, Texas only has 33 Costco stores. Third place is Washington has 32 stores for residents along with Florida (28), Illinois (23) along with New Jersey (21) following.
Being one of the most reliable retailers in the world 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 is home to 55.5 percent of the club wholesale market. The number fluctuated between 52-56% during the last two years. Sam’s Club and BJ’s Wholesale rank in the second and third spot, respectively, with 36.2 percent and 8.3 percentage, respectively.
What is the most-busiest Costco anywhere in the world?
There is a reason that Iwelei Costco on Oahu Island in Hawaii is the most busy anywhere in the world. Costco estimates that one four residents on Oahu Island are Costco members. With Oahu being home to more than 950,000, it’s easy to understand why the location is a major source of pedestrians.
There actually are there are actually four Costcos on Oahu however the Iwelei location is raking in more than double in revenue per year than the typical Costco location.
How much can a Costco get in a day?
One Costco produces $526,000 every day, in the average. The average year-long revenue per warehouse being $192,000,000, and 365 days per year that’s averaging Costco store earns more than one million dollars per day.
What’s 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 improbable approach to business, Costco Wholesalers is a business that is able to drive revenues and growth at a remarkable growth rate. It has made billions of dollars in profits and has earned a huge customer loyalty , as it continues to expand and invent for the future.
Costco is a cult retailer that has members of all kinds, from famous people to those on a budget who want the excitement of Costco’s constantly changing inventory. Therefore, it’s not surprising that based on these numbers it’s clear that Costco is a real rival in the retail industry and is here to stay for the long haul.