Costco Beats Rivals With Shopper And Staff Loyalty

Costco’s same-store sales have steadily increased during the past six consecutive years, driving revenue up from $76 billion to $114 billion. By building a loyal customer base, the operator of hundreds of members-only warehouses has seen a record-level 91 percent renewals of its $55 annual memberships, Costco has outperformed other big-box and department store retailers. With a company average wage of $22 per hour, Costco’s compensation puts those of its rivals to shame and keeps turnover low and enhances employee productivity. Also, by early 2016, Costco will transfer its credit card program from American Express to Visa.