After flirting with the idea for months, Costco will be increasing membership dues in the U.S. and Canada come Sept. 1.
It’s the first time since 2017 that the warehouse retailer will be bumping up the cost to shop at 612 U.S. locations. Competitors like Sam’s Club have already engaged in membership price increases.
The basic membership fee will go up $5 to $65 a year and Costco’s Executive Membership will be increased by $10 to $130 annually.
Costco membership fees pulled in $1.12 billion during the third quarter of 2024, a 7.6% increase year over year.
With the fee change, Costco now has the highest membership dues. It costs $50 a year for a basic Sam’s Club membership and $100 for Sam’s Club Plus.
However, last week Walmart’s warehouse retailer announced it was shifting its policy on free shipping for its higher tier members. Starting in August Plus members will have to pay an $8 shipping fee on items less than $50.
