Posted byon September 15, 2008
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Our brand new Costco just opened last month. There’s a lot of hype, and I heard through a rumor that they’ve already had 14,000 people sign up since they opened. (No idea if that’s true or not.) Maybe all those people know something that I don’t. So what is it exactly that I’m supposed to buy there?
We had a membership a few years back, so that we could buy our wide screen LCD TV for a ridiculously low price online. But, this is the first time we’ll have access to an actual store.
If I find that it would save us money to shop there, I might sign up. A little bit of extra incentive for me to sign up is the $25 Sign Up Bonus From Costco and American Express. Signing up both my husband and myself will pay for our Costco membership for the first year.
There is the risk of overbuying and wasting at Costco, as with any warehouse club. Since buying in bulk is cheaper, I can see how it would be easy to have stuff start jumping in your cart and spend more than you planned.
The result? “Readers gave higher overall scores to Costco for groceries (better perishables), electronics and small appliances (lower prices), and eyeglasses (better service).”
In addition, they reminded me of the terrific business model that I’ve heard about – treating your employees really well. Last year “Costco’s average hourly wage [was] $17.25, employees [contributed] 10 percent of their health insurance premiums, and the turnover rate [was] 17 percent.” I love shopping at places that believe in their employees.
Tell me, what do you buy at Costco, and how do the prices compare? I’m especially interested in groceries compared to your supermarket and household goods compared to Target.
Based on your input, we’ll decide if it’s worth trying out.