Costco, the third-largest retailer in the US, reported sales exceeding $226.9 billion in 2022, operating as a wholesale club with nearly 119 million cardholders. Boasting over 838 warehouse stores globally, including 585 in the US, and employing around 304,000 individuals, Costco holds a significant market presence.
Approximately one-third of US shoppers are Costco customers, according to Numerator, with over 84% returning in 2022, showcasing a notable increase from the previous year. Despite a loyalty rate comparable to major retailers, such as Walmart, Costco’s expansion is evident, gaining three new customers for every two lost.
Numerator’s data reveals that Costco’s typical US shopper is an Asian American woman aged 35 to 44, married, residing in the Pacific Northwest. Possessing a four-year degree or higher, she earns over $125,000 annually. This customer visits Costco bi-weekly on weekends, making around 30 trips annually, with an average spending of $100 per visit. Notably, Costco stocks only 4,000 products (SKUs) compared to the 30,000 found in many other retailers.
Approximately 11% of the average Costco shopper’s spending occurs at the wholesale club, mirroring spending patterns with Amazon. The shopper’s preferred categories include groceries and personal-care items, and popular purchases encompass Duracell batteries and Adidas apparel.