"Costco's decision to extend shopping hours for executive members is looking more and more like a smart move. When the wholesale club said earlier this summer that it would make the change - without adding new staff, to boot - some workers expressed concern that the strategy would backfire. But foot traffic data from Placer.ai indicates the adjustment is helping the company accomplish several key goals, namely getting shoppers to visit more quickly and more often."
""People realize they have more time now and potentially don't need to get everything in that visit," Placer.ai analyst RJ Hottovy told Business Insider. "It's early, but I do think this is a win," he said. The data shows small but meaningful shifts in foot traffic from the 10 a.m. and 11 a.m. hours to the 9 a.m. hour during July and August, the first months that the new schedule took effect."
Costco extended early shopping hours for executive members without adding staff. Placer.ai foot-traffic data shows shifts from the 10 a.m. and 11 a.m. hours into the 9 a.m. hour during July and August. Shoppers are making shorter trips, moving from about an hour to roughly 30 to 45 minutes, and are visiting more often. The more balanced flow likely improves the shopping experience for all members. Analysts expect the extended hours to be accretive to sales growth. Costco's fiscal year ended August 31, and fourth-quarter results will indicate the financial impact of the additional hours.
Read at Business Insider
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