Costco is increasing its annual fee for members by more than 8 percent in the United States and Canada, the first increase in seven years, the company announced on Wednesday.
Beginning Sept. 1, the fee for customers who shop at Costco Wholesale stores will increase by $5 to $65 annually for the basic Gold Star Membership and by $10 to $130 annually for customers with the Executive Membership.
“The fee increases will impact about 52 million paid memberships, a little over half of which are Executive,” a spokesman for Costco, the Washington State-based membership wholesale retail store, said in a statement.
“As a reminder, we last raised our membership fees in the U.S. and Canada in June 2017.”The announcement did not specify whether people who purchase annual memberships before Sept. 1 will see a charge for the difference or if they can enjoy the lower price until they pay for a second year in 2025.
Costco did not immediately respond to requests for comment on Thursday.
Persons:
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Organizations:
Costco, Costco Wholesale, Washington State
Locations:
United States, Canada, U.S