Price Hike Coming to Customers of this Warehouse Club in NJ

Shopping warehouses are fascinating, aren't they?

Everything is so large?  Why buy one 2-liter bottle of soda when you can buy six?

How many of you are like me?  I go into one of these places and wind up buying more stuff than I'll ever use.  Buy in bulk they say.  Yeah, and then I usually wind up throwing more away in bulk.

Don't Wait to Renew Your Membership

If you're a member of Costco, and you plan on remaining a member, make sure you renew your membership before September 1.

On September 1, the price of their Gold membership will go up five bucks to $65.  The Executive membership will increase by ten dollars to $130.

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The company said the annual 2% cash rebate for Executive members will increase to $150.

Costco made it a point of saying this is their first increase in seven years.  My response to that is who cares?

It's going to cost more to buy stuff, and right now, with this economy, that's all I care about.

Here's something to consider, the company says the increase will impact roughly 52 million customers.  Half of those affected are Executive level customers.

How Much More Money Will Costco Make

I'm no math genius but at 5 dollars times 26 million customers, that means they are making over a billion dollars more just on the Gold members, and twice that amount on Executive members.

That's before you buy anything in the store.

In case you were wondering, Sam's Club increased their prizes a couple of years ago, and is still cheaper than Costco.