Bad news for all Costco Canada shoppers! Costco Canada (and Costco USA) will be increasing its annual fees. Starting June 1st, 2017. Costco Membership fees will change as follows:
- Costco Canada Gold Star Membership: $60 (up from $55).
- Costco Canada Executive Membership: $120 (up from $110).
Last time the fees were increased was in 2011 and hence this Costco membership fee increase was inevitable. Costco has over 87 million members who collectively paid more than $2.6 billion US in 2016 for the right to shop at the Costco stores. This is surprisingly more than the company made in profits last year!
Costco has been growing steadily year to year and has become the second largest brick and mortar retailer in the world behind Walmart. The only demographic where Costco performs poorly is amongst millennials who prefer online shopping and click-and-collect options.
How do you feel about these Costco fee increases? Will you still continue to shop there?
I use an Aeroplan voucher to buy my membership each year but always make a list of what we buy there that we can’t get elsewhere first.
This is it. I quit Costco and will do all my shopping at Home Depot now. It is 2 by 4 for breakfast, kids!!
Home Depot ??
Really its only $5 more. If you cant afford that, you shouldnt be shopping at Costco. We never walk out under $100, whats an extra $5? lol
Someone says what is an Extra five dollars well you do have the card that gives you money back it is a 10.00 jump that is a lot considering that Costco Wil not price match and most of there stuff is not cheap to buy
I don’t like paying a fee to shop at Costco but there are things I find there that I don’t see anywhere else. You HAVE to know your prices if you’re going to shop at Costco though. There are some things they carry you can find anywhere, such as canned tomatoes, beans, tuna, etc and, even with the Costco coupons they offer on these items from time-to-time, you can get better pricing at grocery stores when these same items come on sale. I don’t like the extra $5 fee either and, yes, maybe it’s only $5, but it’s more money out of my pocket. Holly, you say you never walk out having spent less than $100. I have, often. I don’t go in there to specially grocery shop. I buy only what I need and only if I can’t find it elsewhere cheaper.
What is an extra $5, or $10, or $15 the point is it adds up. People who use such phrases make $5 sound as if it’s a nickle.
Regardless I never have shopped at Costco, and probably never will. I don’t need T-REX size packaging and neither does the average house hold who may have four people living under one roof, they simple think they need T-REX size packaging. Buying a membership to buy Groceries, doesn’t sound ideal, regardless if it’s annually.
Love Costco. Really a $5 fee after 6 years is fine by me. Not noticeable. But i will be dumping their credit card. The card itself is not bad although there are a couple that are better. Capital One has got to be the worst. Absolutely hate them. Wish we had the Citi visa like Costco usa has.
In terms of grocery pricing, I don’t think Costco pricing is the best. It just saves you the trouble of checking all flyers and shop at different stores. What I really love is the Costco guarantee. Last year I returned a Irobot because it started making noise after 6 month of usage. Costco just refund me the money even though I did not keep the box.
It’s inflation.. it’s bound to happen at some point. It’s not like they raise it every year. As for me, I have an executive membership, I get 2% back in purchases each year, and in my home, that 2% back literally pays for the membership renewal each year, and then some. I havent paid “out of pocket” for a Costco membership in 5 years. $10 more isnt going to even go noticed for me.
I don’t know why people accept the fact that you have to pay to be able to purchase at a store — imagine if all the stores told us you had to pay us before you are able to make any purchases! Would we be willing to pay Walmart, Home Depot, No frills, etc,, a membership fee? I think it’s time Costco realizes they are not an exclusive club — they are a store and without customers they don’t have anything.
Pat, some people like paying for anything, regardless if the quality is degraded etc. Costco and other stores rely on these people.
Once my membership comes up for renewal in December ( it was a gift ) I will not renew . I had such a horrible experience one time prior with a just renewed membership and they said it was due for renewal . The cashier was such a B*&(() and refused to get manager etc. I was not going to renew then but got this one for Christmas. The prices are not cheap and the fact they don’t price match or take coupons is it for me
I don’t shop there now as I don’t like that you have to buy a membership to be a
customer, that sucks.