Costco is a retail giant, and as you might imagine, when you serve that many customers, some pretty interesting stuff goes on behind the scenes.
Read below to see what Costco does to sell to eightmillion members every month.
Some of the facts are just interesting, but a few could save you surprising money on membership fees, so take a look!
Costco pays better than almost any other retailer.
The minimum wage at Costco is $13.50, and some hourly employees make up to $22.50, resulting in a turnover rate of 5% for employees who have been there longer than a year.
That rate is among the best in retail!
Toilet paper is their best-selling item.
In 2015, they sold a billion rolls, pulling in $400 million from the sale of that one product alone.
Costco’s house wine is actually really high-quality!
You wouldn’t think the house brand of wine from a discount chain store would be worth much at all, but you’d be wrong about Costco’s.
They’re able to buy the good stuff and sell it cheap because they’re…the biggest seller of wine in the entire country.
They lose money with their cheap hot dogs and chicken…but with a bigger goal in mind.
Costco’s known for its really cheap food, and they know it.
It turns out that pricing the food at a loss actually gets more people in the store, which means more customers for bigger things, like TVs and such.
They sell super-expensive diamond rings.
You might not advertise that you got your engagement rings from Costco, but that doesn’t make it cheap.
They sell expensive jewelry that can climb up to $79,000 for a diamond solitaire online!
Read more: http://twentytwowords.com/crazy-things-you-never-knew-about-costco/
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