BIG UPDATE: Hot dogs are still $1.50 at Costco, but a membership got a little more expensive on Sunday.
According to News Nationnow, While the famous $1.50 hot dog at Costco remains unchanged, the cost of membership has gone up. As of Sunday, Costco increased the annual membership fees for U.S. and Canada Gold Star and Business members by $5, bringing the total to $65.
Executive Members Face Higher Costs, But Bigger Rewards
Executive members also saw a price increase on September 1, with their annual fees rising from $120 to $130. However, these members, who receive a 2% annual reward, will now be eligible for up to $1,250, an increase from the previous $1,000 cap.
Reason for the Increase
In a statement on its website, Costco explained the price hike was necessary to “offset many of our operating costs and price our merchandise lower.” The company emphasized that the membership provides access to its vast buying power, resulting in the lowest prices on popular items.
Costco’s Continued Popularity
Despite the fee increase, Costco remains a favorite among shoppers, thanks to its Kirkland Signature products, high-quality goods, food court offerings, and free samples. The stock price reflects this loyalty, rising from around $300 in January 2020 to nearly $880 as of Tuesday.
Costco has also built a thriving social media presence, with fans sharing favorite items, tips, news, and deals across various platforms.
Global Reach
As of early September, Costco operates 882 warehouses worldwide, with 609 in the United States and Puerto Rico. International locations include countries like Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden.
