Get a $30 Costco Shop Card with a New Membership: Many people save money by frequently purchasing at Costco. The warehouse club behemoth is renowned for its competitive pricing on food, housekeeping supplies, and clothing.
However, if you have been on the fence about joining Costco, you may wish to act swiftly. Currently, there is a promotion that will effectively save you 50% off the price of a basic membership. However, it expires on June 11, so you’ll need to decide soon.
Get a $30 Costco Shop Card with a New Membership
Membership discounts to Costco are difficult to come by. During the most recent earnings call, CFO Richard Galanti stated, “Each year, we do a few promotional activities. However, we do not offer membership discounts in any significant way.”
Two factors account for this result. First, Costco generates revenue through membership fees, and it is because of these fees that the company is able to offer such competitive prices on the products it sells. If memberships were discounted, it could result in higher prices for products.
Additionally, Costco does not need to discount its memberships because new members continue to sign up. Recently, the company experienced a 7% increase in new memberships compared to the previous year. Therefore, there is no compelling reason to offer discounts.
This week, if you sign up for a Costco membership, you will not receive a discount per se. You will still be required to pay $60 for a basic membership or $120 for an executive membership, both of which provide 2% cash back on Costco purchases. You will receive a $30 Costco Shop Card as a thank you if you input the code SUMMER23 when signing up for a new membership online and enrolling in auto-renewal of your annual membership.
So, if you sign up for a base Costco membership and take advantage of this promotion, it’s as if you only paid $30 for the first year. Because it is likely that you can easily spend $30 at Costco.
Does obtaining a membership to Costco make sense for you?
If you’ve been considering joining Costco, you might as well do so at a time when the store is offering cash back. Nevertheless, even if your first year of membership is effectively reduced to $30, you’ll want to ensure that you’re receiving your money’s worth.
To that end, consider your routines and living circumstance. If you cook infrequently, you may not purchase many products at Costco. And if your home is small and severely lacking in storage space, it may not be possible for you to take advantage of Costco’s volume discounts. (You do not want to have to store toilet paper rolls in your living room.)
Also, consider the availability of Costco. If the closest warehouse club store is 45 minutes away by car, you may not frequent it as often. And you may spend the money you save on grocery store purchases on petrol.
Nevertheless, if you conclude that it makes sense to give Costco a shot, you should sign up for membership by June 11. Such promotions are relatively uncommon, so take advantage while you can.
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