research summary.Costco Wholesale is a household name. The Company operates a global chain of member warehouses that stock quality branded products at significantly lower prices than typical retail sources. To show Costco's impressive reach, our data analysis team collected the following statistics:
Costco hat581 locations in the United Statesand 825 warehouses in total worldwide.
Costco hat116.6 million membersab May 2022.
Costco hat288,000 employees, with more than 156,000 full-time employees.
Costco generated$195.93 billion in salesyearly.
Costco is the sixth largest retailer in the world and the third largest in the United States after Walmart and Amazon.
For further analysis, we have broken down the data as follows:
Costco Annual Sales 2011-2021
|2021 (planned)||196 Mrd. $|
|2020||166 Mrd. $|
|2019||152 Mrd. $|
|2018||138 Mrd. $|
|2017||126 Mrd. $|
|2016||116 Mrd. $|
|2015||113 Mrd. $|
|2014||110 Mrd. $|
|2013||102 Mrd. $|
|2012||97 Mrd. $|
|2011||87 Mrd. $|
Costco Business Statistics
In 1976, the company's first location was opened in San Diego. At the time, the company (then named Price Club) only served small businesses. After some trial and error, they realized they could do more business by also serving customers who weren't business members.
From there, the company opened warehouse locations and became the first company to grow its sales from $0 billion to $3 billion in less than six years. The Costco brand believes in maintaining simplicity, which is their key to success, as evidenced by the following data:
Costco operates 825 department stores worldwide.
581 of these locations are in the United States andPuerto Rico. Costco also has 105 locations in Canada, 29 locations in the United Kingdom, 14 locations in Taiwan, 16 locations in Korea, 30 locations in Japan, 40 locations in Mexico, 13 in Australia, three locations in Spain, two in France and one store each in Iceland and China.
Costco has grown 9.2% from 2019 to 2020.
This is consistent with the company's past growth. From 2016 to 2017, the organization grew by 8.7%. In the following year (2017-2018) they grew by 9.7% and from 2018 to 2019 by 7.9%.
Costco offers the highest pay in retail, averaging $20 an hour.
Costco has consistently received praise for the way it treats and rewards its employees. Employees can receive benefits after their first month of work, while full-time employees can receive benefits after 90 days. Costco also offers a generous 401(k) plan.
For this latest quarter (FY2021 Q3), Costco reported net sales of $44.38 billion.
That number compares to $36.45 billion for the same period last year. The company's net sales increased 17.7% to $130.61 billion in 2021, compared to $110.94 billion for the same period in 2020.(Video) Zippia.com names Cochran worst place for employment
In 2021, the annual percentage change in Costco (NASDAQ:COST) stock was 18.43% with the average share price standing at $376.50.
The stock's annual rate of change hadn't bottomed since 2016, when it posted a 0.86% decline. Costco stock's all-time high was $452.89 on August 16, 2021, but the 52-week average Costco stock price was $372.27.
Costco Store Statistics
Costco has stores around the world, most of which can be found in the United States, with Canada and Mexico as second and third markets. New Costco locations are opening regularly, with new warehouses scheduled to open for the remainder of 2021.
Interestingly, Costco's method of selling differs significantly from other retail outlets. For example, Costco doesn't advertise, tell customers where to find things, or even offer bags for their products.
Nevertheless, the company is one of the mostsuccessful in the industry, often touted for how well they treat and reward their employees. Consider these store stats:
Costco stores range in size from 73,000 to 205,000 square feet.
The average Costco store is 143,000 square feet
In July 2021, Costco's retail sales grew nearly 17%.
During its monthly review, the retailer reported net sales of $15.21 billion for July 2021, up from $13.04 billion for the yearearlier. The actualpercentageCompared to 2020, the increase was 16.6%.
His most popular product is Kirkland Signature Bath Tissue, of which Costo sells over a billion rolls a year, grossing $400 million on that product alone.
In second place is Costco's fried chicken, which earns the company about $30 million to $40 million annually. Bacon is the third most popular product, hot dogs is the fourth, and gas is the fifth most popular product at this major retailer.
Costco Customer Statistics
Costco is notorious for turning the warehouse shopping experience into a pleasant one for customers. The company attracts loyal and affluent customers of all kinds and also offers productsEssenand drinks.
These products range from diamond rings, gas, auto products, wedding dresses, caskets and more. Our data analysis gathered information about the variety of customers that Costco serves on a regular basis:
The average Costco customer picks up to nine products, resulting in a cost of $114 per trip.
On average, Costco shoppers make about 23 trips a year and visit the wholesale club every two to three weeks. About 11% of the average CostcobuyerThe spend is at the retailer, which is equivalent to what the average person spends at Amazon.
The most common Costco buyer in the United States is an Asian American woman, ages 35-44, who is married, has a four-year degree (or higher) and makes over $125,000 per year.
Costco's second most popular age group is those over 65. Hispanic and Caucasian are the second most popular races to typically shop at Costco. Those earning between $100,000 and $125,000 are second most common, with those earning $80,000 to $100,000 third.(Video) MOST IMPORTANT 2023 Social Security Benefit Statistics
23% of Costco buyers haveno college degree, 34% have oneassociate's or bachelor's degree, while 43% of Costco buyers have an advanced degree. Finally, 54% of Costco shoppers have children, compared to 46% of shoppers who don't.
Costco's annual membership fee revenue continues to grow steadily, growing 5.7% from 2019 through 2020.
Costco's global headquarters are located inIssaquah, Washington, a suburb of Seattle. As of 2005, the largest Costco warehouse is located inHillsboro, Oregon. However, that location has been surpassed by a new 235,000 square foot warehouse in Salt Lake City.
The company has active warehouses in the United States, which is evidenced by the following data:
46 out of 50 states have Costco warehouses for residents.
WashingtonDC also has a Costco store. The states of no Costcos includeMaine, Rhode Island,West Virginia, AndWyoming.
California is the state with the most Costco stores, offering California residents 131 Costco stores.
Although in second placeTexashas only 33 Costco stores. In third place, Washington offers residents 32 stores withFlorida(28),Illinois(23) andNew Jersey(21) follows.
Costco trends and predictions
As one of the most consistentretailersOverall, Costco's outlook for the future is positive. The competitive advantage comes primarily from the lowest average markup in the warehouse club space.
Their member renewal rate is just under 91% in the United States, which allows the company to generate recurring revenue from memberships and product sales. Some additional stats indicate their continued growth:/pgt;
Revenue from Costco Membership Fees 2009-2020
Costco's e-commerce grew sales by 75.8% in a single quarter this year.
Amazingly, that percentage increase doesn't even include Costco's third-party grocery program, which rose 450% year over year in the same quarter. Costco's most popular products in ecommerce include over theSwitchAndPharmacy, garden and patio, small electronics, and health and beauty.
In 2020, Costco opened eight new stores and plans to open 20 to 22 more in fiscal 2021.
Despite the pandemicCostcois enjoying exponential growth. Store openings will begin as travel opens up across the country, giving the company more room to expand.
What percentage of the wholesale club market does Costco hold?
Costco has 55.5% of the wholesale club market.That number has fluctuated between 52% and 56% over the past two years. In second and third place are Sam's Club and BJ's Wholesale with 36.2% and 8.3% respectively.
What is the busiest Costco in the world?(Video) Truth About Airbnb Investing w/ Travis Zappia (REI103)
The Iwelei Costco on the island of Oahu in Hawaii is the busiest in the world.Costco estimates that 1 in every 4 residents of the island are Costco members, and since Oahu has a population of over 950,000, it's easy to see why this location gets a lot of foot traffic.
There are actually four Costcos on Oahu, but the Iwelei location generates more than twice the annual sales of the average Costco location.
How much does a Costco make a day?
A Costco makes an average of $526,000 per day.With an average annual turnover per warehouse of $192,000,000 and 365 days a year, the average Costco location brings in over half a million dollars every day.
Why is the Costco brand called Kirkland?
The Costco brand is called Kirkland because Costco's corporate headquarters were in Kirkland, Washington in 1992, when the private label was launched.Costco moved its headquarters to Issaquah, Washington two years later in 1994.
Despite its unlikely business model, Costco Wholesalers is a revenue-generating companyGrowth at an impressive pace. The company has generated billions in profits and extreme customer loyalty while continuing to grow and innovate for the future.
This retail icon has members ranging from celebrities to budget shoppers looking for the thrill of Costco's ever-changing inventory. So, based on this data, it's no surprise that Costco is a real contender in the retail market -- and it's here to stay.
NY Jobquelle. "Costco: The nation's leading chain of wholesale club stores.” Accessed 19 August 2021
Finbox. „Revenue CAGR (5 years) for Costco Wholesale Corporation.” Accessed 19 August 2021.
Costco Wholesale. "Costco Wholesale Corporation reports third quarter and year to date operating results for Discal 2021.” Accessed 19 August 2021.
MacroTrends. "Costco - 35-Year Stock Price Performance | COSTS.” Accessed 19 August 2021.
market observation. "Costco's sales for the retail month of July are up nearly 17%.” Accessed 19 August 2021.
Fox business. "Costco's top 5 best sellers in the US.” Accessed 19 August 2021.
Insider. „Meet the typical Costco shopper, a 39-year-old Asian American who makes more than $125,000 a year.” Accessed 19 August 2021.
Counter. "Costco Numerator Retailer Snapshot.” Accessed 19 August 2021.
Costco Wholesale. "Stock by state.” Accessed 19 August 2021.
Winsight grocery store. "E-Commerce-Explosion von Costco.” Accessed 19 August 2021.(Video) Ethan Ross - FORCE OF NATURE (prod. Patrick Zappia & Sensu)
The colorful fool. "That's why 2021 is set to be another great year for Costco.” Accessed 19 August 2021.
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Caitlin Mazur is a freelance writer at Zippia. Caitlin is passionate about helping Zippia readers find the jobs of their dreams by offering content that discusses job search advice based on experience and extensive research. Caitlin has an English degree from Saint Joseph's University in Philadelphia, PA.
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