3 ways the Costco experience will change in 2023

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Things may look different in the new year for Costco shoppers.

Key Point

• The high cost of sourcing items may lead Costco to raise prices.
• But warehouse clubs may be in a position to offer a wider range of products.

For many people, regular Costco shopping means fewer credit card tabs in the process of raising a family and maintaining their finances. But if you’re a Costco regular, you might want to prepare for some of the changes that could happen in 2023.

1. Membership fees can be high

Like many retailers, Costco’s profit margins have shrunk in recent months due to the high cost of sourcing items. However, Costco acknowledged in its recent earnings call that its membership base is growing well, so it doesn’t think there’s a need to raise membership fees right now.

But that doesn’t mean membership fees won’t go up in 2023. In fact, it’s been over five years since Costco raised its membership fees, so they’re actually going to go up. So Costco may choose to piggyback on the move.

In any case, even if Costco goes ahead with the membership fee hike, it’s unlikely to be dramatic. . If the warehouse club giant chooses to raise these fees, members could be $65 and $130 respectively. On an annual basis, it’s not that big of a price increase.

2. Potentially more spending at food courts

Costco has raised the price of its food court favorite, chicken bakes, this year.

But you have one food please do not You have to worry about paying more for a $1.50 hot dog and soda combo. Costco has promised to keep that price point indefinitely. In fact, it’s one of the things the warehouse club giant is definitely known for, so even if you don’t stick to the most nutritious lunches, there should be an option to get your hands on a $1.50 meal.

3. You may have more options

In 2021, pandemic-related shutdowns have hit many supply chains. Although the situation appears to be improving at the moment, there are still many consumer goods that are in short supply.

But over time, supply chains may recover and return to pre-pandemic conditions. That means some items that may have disappeared from your local Costco shelf in 2022 could reappear in 2023.

Plus, it’s entirely possible that Costco will expand its existing inventory. And you can bet that whatever new items Costco introduces will come at relatively competitive prices.

What’s in store for 2023?

Without the crystal ball, it’s hard to say that Costco will increase membership fees and food court prices. And if supply chain issues persist, that choice may not improve much. But if you’re an avid Costco shopper, you might want to charge a little higher. You might also want to keep some room in your budget in case Costco offers an exciting array of new products.