Costco's recent membership fee increase, its first in seven years, impacts 52 million members and is anticipated to significantly bolster the company's bottom line.
While membership revenue represents only 2% of Costco's total annual revenue of $254.5 billion, it contributes 66% to the retailer's bottom line, highlighting its importance.
The membership program is not just a revenue stream; it acts as a loyalty builder since consumers need a membership to access Costco's low-cost merchandise.
Costco's financial updates include impressive increases in both revenue and net income over various periods, underscoring the retailer's strong performance despite slight membership changes.
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