Costco raises membership cost, Amazon removes gift cards in New York and free kayak tours in Copenhagen (Saturday Selection)
Why is Costco raising its membership costs now?
Costco is raising its membership costs due to inflation and increased operational expenses. The last membership fee increase occurred in 2017, and since then, inflation has been between 25-30%. The fee hike will help the company offset these costs and continue to offer competitive prices to its members.
What was Costco's previous membership price increase year?
Costco's previous membership price increase was in 2017. The basic membership fee went up from $55 to $60, and the Executive membership fee increased from $110 to $120. This recent increase in 2024 marks the first time the warehouse giant has raised its fees since then.
How much is Costco increasing its Executive Membership cashback?
Costco is increasing the maximum annual cashback for Executive Memberships by 25%, raising it from $1,000 to $1,250. This change comes alongside a $10 increase in the cost of the Executive Membership, which will now be $130 per year.