Costco, renowned for its membership warehouses, boasted 124.7 million members spanning 69.1 million households as of February 2023. 

The appeal of its membership program is evident, with a robust renewal rate of 92.6%. Additionally, the average shopper spends slightly more than $100 per visit

To provide a comprehensive overview, let me share the most crucial Costco statistics you should be aware of right away. 🏢💳

Costco Statistics: The Key Data

  • Costco had 124.7 million members and 69.1 million households as of February 2023. 
  • As of August 2023, Costco has 861 locations worldwide, including 591 in the United States and 270 abroad.
  • Costco’s membership program has a renewal rate of 92.6%.
  • Costco’s customer satisfaction rating rose to 82 in 2023, from 81 in 2022.
  • The average Costco shopper spends slightly more than $100 per visit and makes 30 trips per year, totaling approximately $3,000 per year.
  • Costco revenue rose 8.23% to $235.442B in the year ending May 31, 2023.
  • Costco accounts for 55.5% of the wholesale club market.
  • 21% of Costco customers return within three days.
  • Costco leads the way with 55.5% of wholesale customers walking through its doors in August, followed by Walmart-owned Sam’s Clubs at 36.2% and BJ’s Wholesale at 8.3%.
  • During the company’s fiscal year 2022, each Costco warehouse made $245 million in sales, up from $217 million in fiscal 2021.

Sources: (Costco, Retail Touch Points, Vator, Yahoo, Macro Trends, Cliffs Notes, Fox Business, Wall Street Zen.)

Costco Membership Skyrockets to 124.7M; 69.1M Households as of February 2023.

Important takeaway:

Insight from DataRationale
Significant membership overlapWith 124.7 million members and 69.1 million households, it suggests that many households have multiple members.
Dominance in market presenceThe sheer number of members indicates a strong market presence, suggesting Costco is a top choice for consumers.
High potential for upsellingGiven the multiple members in single households, there’s a chance to upsell or market products tailored to families or shared households.

Source: Costco

August 2023: 861 Global Costco Outlets, 591 Domestically, 270 International.

Important takeaway:

Insight from DataRationale
U.S. dominates Costco’s global presence.Out of 861 worldwide locations, 591 are located in the U.S.
Significant growth opportunity abroad.Only 31% of Costco’s stores are outside the U.S., indicating potential for international expansion.
Global expansion already underway.270 stores operating outside of the U.S. shows an ongoing commitment to cater to international markets.

Source: Costco

Costco Membership Loyalty: Stellar 92.6% Renewal Rate.

Important takeaway:

Insight from DataRationale
High member loyaltyA 92.6% renewal rate indicates a strong satisfaction with the membership and the value it offers.
Sustainable revenue streamWith such a high renewal rate, Costco can predict stable and recurring income from membership fees.
Effective membership retentionThe majority of members find enough value to renew, suggesting successful retention strategies.

Source: Retail Touch Points

2023 Sees Costco Customer Satisfaction Jump to 82, Up from 81.

Important takeaway:

Insight from DataRationale
Incremental improvement in satisfactionA rise from 81 to 82 suggests that Costco’s efforts towards enhancing customer experience are yielding positive results.
Maintained high satisfactionWith scores above 80 in consecutive years, Costco consistently delivers a high level of satisfaction to its customers.
Potential for continuous growthThe upward trajectory indicates the possibility of further improvements and positive feedback from customers in subsequent years.

Source: Vator

Average Costco Patron: $3,000 Annually from 30 Visits.

Important takeaway:

Insight from DataRationale
Consistent spend per visitThe average shopper spends just over $100 each time, showing a reliable shopping pattern.
High frequency of visits30 trips a year indicates that customers rely on Costco for regular and frequent purchases.
Significant annual expenditureCumulating to $3,000 per year, each shopper’s commitment to Costco is financially substantial.

Source: Yahoo

8.23% Revenue Surge: Costco Rakes in $235.442B by End-May 2023.

Important takeaway:

Insight from DataRationale
Robust growth in annual revenueAn 8.23% increase signifies strong financial health and positive business momentum.
Achieving significant scaleAttaining a revenue of $235.442B places Costco among the elite global retail giants.
Sustainable business modelThe continued rise suggests a consistent and effective business strategy in place.

Source: Macro Trends

Dominating Wholesale: Costco Claims 55.5% Market Share.

Important takeaway:

Insight from DataRationale
Dominant player in the marketWith 55.5% market share, Costco stands as the preeminent force in the wholesale club industry.
Edge over competitorsMore than half of the market share suggests that Costco’s offerings are preferred by a majority of wholesale club consumers.
Strategic advantage for future growthSuch a significant market share positions Costco well to leverage its dominance for further expansion and growth.

Source: Yahoo

Rapid Return: 21% Costco Customers Back Within Three Days.

21% of Costco customers return within three days

Important takeaway:

Insight from DataRationale
Rapid return behavior21% returning within a mere three days underscores the strong attraction and reliance customers have on Costco.
Potential for high customer engagementSuch frequent visits suggest that Costco is an essential shopping destination for a significant portion of its customer base.
Opportunity for targeted marketingRecognizing this behavior, Costco can craft strategies to further engage this segment of rapid returners and potentially increase their spend.

Source: Cliffs Notes

August Showdown: Costco at 55.5%, Sam’s Clubs 36.2%, BJ’s 8.3% in Wholesale Traffic.

Important takeaway:

Insight from DataRationale
Costco’s pronounced dominanceCommanding 55.5% of the customer base, Costco’s market position is undeniably robust in the wholesale club sector.
Significant gap between market leaders and competitorsWith Sam’s Clubs at 36.2%, there’s a considerable chasm between the top two players and others like BJ’s Wholesale.
Limited presence of smaller playersBJ’s Wholesale’s 8.3% indicates limited traction in the market, highlighting the strength of the larger entities.

Source: Fox Business

2022: Each Costco Warehouse Grosses $245M, Rising from 2021’s $217M.

Important takeaway:

Insight from DataRationale
Notable sales growth at individual warehousesAn increase from $217 million to $245 million reveals a thriving performance at the warehouse level.
Consistent upward trajectory in salesConsecutive annual growth signifies an effective strategy and strong consumer demand for Costco’s offerings.
Potential for future revenue expansionWith each warehouse demonstrating such sales vigor, Costco’s prospects for further financial growth appear promising.

Source: Wall Street Zen