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Costco membership fees could increase later this year

Costco membership fees could go up
Costco
Posted at 7:06 AM, Mar 07, 2022
and last updated 2022-03-07 09:07:24-05

ISSAQUAH, Wash. — USA Today reports that Chief Financial Officer for the Wholesale's Club Richard Galanti, said a possible increase to Costco membership fees could be coming but a decision has yet to be made.

Costco last raised prices in 2017, and Galanti says increases have happened every 5 and half years.

"I think the question will continue to be asked until we do or don't do something, but at the end of the day, we certainly feel very good about our member loyalty," Galanti said during a call with analysts to discuss the retailer's quarterly earnings. "At some point, it'll happen. But stay tuned," said Galanti.

Costco wouldn't be alone in raising its membership prices.

Amazon also recently raised rates for new and current members.