Costco shoppers have weeks left to renew memberships before $10 price hikes – exact day to sign up before it’s too late

FOR the first time in seven years, Costco is increasing its membership fee.

Costco's new prices go into effect on September 1, when some customers pay $5 more and others pay $10.

The Gold Star membership, the basic plan, will increase from $60 to $65 annually.

The Executive membership will rise even more, from $120 to $130.

In 2022, then-CEO Craig Jelinek assured customers that a price hike was “not on the table right at the moment," CNBC reported.

"I don't think it's the right time. Our sign-ups continue to be strong," he added.

Costco held the largest portion of the wholesale club market that year, at 55.5%. Sam's Club had 36.2%, and BJ's had only 8.3%.

The retailer earned $192 billion in net sales in 2021—three times more than Sam's Club and nearly 12 times more than BJ's.

However, the fee increase is pushing some members to competitors.

"That's one reason why I switched to Walmart," wrote one former customer on a Facebook post announcing the change.

"They will never get another dime from me."

Other customers argued that there are better savings at stores like Walmart and Aldi.

A SIMILAR MOVE

Sam's Club faced similar backlash when it announced it would start limiting free deliveries.

Currently, Plus members get free shipping on orders, but starting August 19, the perk will only be applied to purchases of $50 or more.

Any order under that amount will have an $8 delivery fee attached.

“Been a member for 15 years, and PAY a membership for a reason, and it's not to be charged even more for shipping," wrote a customer on X.

“Literally just canceled my membership and moved to Costco."

Costco membership sharing guidelines

Costco has strict rules for membership use that shoppers must follow and they've been cracking down on offenders in recent years.

• Primary Member Use: Only the primary cardholder can use this Costco membership card. Sharing it for purchases is not allowed as the photo on the card must match the person using it.
• Household Card: Each primary member can add one free household cardholder who lives at the same address. This person will receive their own membership card and can shop at Costco independently.
• Guest Policy: Members can bring up to two guests per visit to Costco. However, only the member can make purchases. Guests must be accompanied by the member.
• Authorized Cardholder: For an additional fee, you can add an authorized cardholder, such as a family member or friend, who doesn't reside at your address. They will receive their own card and can shop independently.

Credit: Costco

Others argued that free shipping was the main reason most people paid extra for the Plus membership.

The basic membership is $50, while the Plus membership is $110 annually.

"So now we have to spend a minimum of $50 to get free shipping on top of the $110 annual fee?" asked a disgruntled shopper.

"Peace out. Won't be renewing next year."

Sam's Club told The U.S. Sun that it is improving the online availability of items as part of this move and that more items will ship for free.

"With this change, we are providing members with access to different ways of shopping, making it easier for them to get the products they want, when and how they want them – all designed to help them get more value from their membership."

A retail expert told The U.S. Sun that Costco's membership spike is no cause for concern about store price hikes.

One Costco member wasn't able to pay for her items despite having her card.