Costco has faced increased competition from Sam's Club, which recently surpassed it in customer satisfaction due to new technology innovations like Scan & Go. With changing consumer preferences, especially among Gen Z, who prioritize seamless shopping experiences, Costco's stagnant satisfaction score of 82 points raises concerns about its adaptability. Company officials recognize the need for advancing technology to maintain competitiveness in a market where rivals have better technological resources. Without innovation in mobile shopping and customer experience, Costco risks its profitability and market position.
Sam's Club has outperformed Costco in customer satisfaction, with advancements in technology leading to a significant rise in customer approval, contrasting Costco's stagnant performance.
The shift in consumer preferences, particularly among Gen Z, necessitates a quick and seamless shopping experience that Costco has yet to significantly adopt.
Costco's flat customer satisfaction score raises concerns that the company may be falling behind in a retail landscape driven by technological innovation and consumer expectations.
Company officials noted that failing to innovate member-facing technology could jeopardize Costco's competitive position and financial performance in an increasingly technology-oriented market.
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