Reported about 1 year ago
Costco's CEO, Ron Vachris, stated that the most crucial item the retail chain sells is the membership card, as it serves as the backbone for all transactions and operations. Costco offers two types of memberships – Gold Star and Executive – with the latter providing additional benefits and a 2% annual reward of up to $1,000. Vachris, a Costco veteran, highlighted the significant savings and value the membership brings to customers, with Costco reporting an increase in membership to almost 128 million and a revenue of $4.6 billion from membership fees last year.
Source: YAHOO