Starting September 1, 2023, Costco raised membership fees for the first time since 2017, with General memberships now costing $65 and Executive memberships $130.
With the new fee structure, Executive members can earn up to $1,250 in rewards annually, reflecting Costco's strategy to enhance value for premium members.
Costco’s annual fees generate significant revenue, helping offset expenses and keep product prices competitive. Last year's membership earnings reached $4.6 billion.
The retailer is also tightening policies to mitigate non-member usage of memberships, including installing card-scanning devices at store entrances, ensuring valid member access.
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