Here Are The Articles That Tell The Whole Costco Story
October 9, 2019 413 views
A Collection of Resources To Tell The Story of Costco
This post contains articles that tell the complete story of Costco, but first, a few brief interesting points to look at.
The concept of a membership warehouse club was drawn on a napkin by Sol Price. Proof that this was great shows whenever you shop at Costco on a Saturday. It’s like shopping Aramagendea. I think to myself what’s happening? Is there a hurricane coming I’m not aware of? The amount of people shopping there is mind blogging.
It all began in Seattle Washington in the year 1983 when Costco was established. Ten years later Costco and Price Club, which pioneered the idea of Big-box retail, joined forces and formed a Delaware Corporation named Price/Costco, Inc. Later to change the name to Costco Companies Inc. and again to Costco Wholesale Corporation, which is now a public company and its common stock is traded on the NASDAQ.
Costco is a retail environment mixed with a warehouse layout of skids loaded with products, strategically placed for shoppers to purchase more products than they intended.
The company is focused on price without sacrificing quality. Products are purchased and sold in bulk and the savings are passed on to the customers.
There are a lot of interesting facts about Costco, here are just a few:
Costco sells around $4.5 billion worth of meat every year, close to $4 billion worth of produce, and around 37 million chickens a year.
The way Costco displays their inventory is having frequently purchased items near the back of the store. This is a good strategy that exposes shoppers to more product and as you’re going to the end of the store there is always a few extra items you’ll pick up. The layout is called “The Race Track”
There are 82 locations in nine Canadian provinces
Costco has 62.6 million cardholders. Multiply that by at least $60 and the yearly income is in the billions.
The number of employees worldwide is close to 155,000 between full and part-time positions.
Warehouse Sizes vary from 73,000 to 205,000 square feet
You’ll find a lot more facts in the facts section to follow
For the complete story of Costco, including its history, company facts, financial information, employee relations, and it’s main success and failures have a look at the articles I have selected for this post, organized in sections for your convenience.
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