Costco, typically known for its bulk deals, has increasingly attracted affluent customers by offering high-end products like gold bars, Rolex watches, and luxury cars. Chairman Hamilton James highlighted this strategy, noting the substantial percentage of members earning double the average income, which allows Costco to successfully market premium products. Notable examples include rapid sales of diamond rings and sports cars, demonstrating affluent shoppers' appreciation for quality and value. Despite some ambiguity about who buys items like gold bars, analysts suggest significant sales contribute heavily to Costco's revenue.
Most members are average-income earners nationally, but we also have affluent members with two times the average income.
Affluent people love a good deal.
A Porsche dealer in Seattle put their cars on the floor of a Costco, and they sold out in a week.
We're not interested in luxury retail, but we know affluent customers appreciate value.
Collection
[
|
...
]