Costco is set to expand its footprint with a series of new store openings across the United States in 2023. The wholesale giant revealed its plans during its second-quarter earnings conference call, highlighting a growing demand for affordable products. Among the new locations, a store in Stuart, Florida, is set to open in April. The first two stores will debut in Brentwood and Highland, California. This expansion comes as American consumers increasingly seek value amid escalating grocery prices.
In addition to the new store in Stuart, four more locations are set to open in March. These will be situated in Sharon, Massachusetts; Genesee County, Michigan; Prosper, Texas; and Weatherford, Texas. Overall, Costco aims to open a dozen new stores throughout the year. The information about these locations is readily available on Costco’s website for interested customers.
As grocery prices climb, shoppers are turning to Costco for deals on lower-cost proteins such as ground beef and poultry. Beyond groceries, consumers are also seeking bargains in various categories, including furniture, toys, housewares, gold and jewelry, gift cards, sporting goods, and appliances and small electronics. This trend has bolstered Costco’s commitment to providing value through its wholesale business model.
Costco's membership fees have remained steady since the last hike in September 2024, which marked the first increase in seven years. Currently, a Costco gold star membership costs $65 annually, while an executive membership is priced at $130 per year before any applicable sales taxes. Despite the increase last year, membership rates have generally been stable.
The company continues to attract members with its competitive pricing strategy and broad range of products. As Costco expands its presence with new stores and maintains its focus on delivering value, it remains a preferred choice for budget-conscious consumers nationwide.
