Costco, the popular warehouse club, has confirmed that it will raise its membership prices in the future. The company’s CFO, Richard Galanti, said in an earnings call that a price hike is “a matter of when, not if.”

Costco has not yet announced when the price hike will take effect, or how much it will be. However, Galanti said that the company typically raises membership prices every five to six years. The last time Costco raised membership prices was in 2017.

There are a few reasons why Costco may be raising its membership prices. First, the company has been facing rising costs for labor, transportation, and other expenses. Second, Costco has been expanding its business in recent years, which has also led to increased costs.

Despite the rising costs, Costco has remained a popular choice for shoppers. The company offers a wide variety of products at competitive prices, and its membership program offers a number of benefits, such as free shipping and exclusive discounts.

What it means for shoppers

A membership price hike at Costco will likely impact shoppers in a few ways. First, it will mean that shoppers will have to pay more to shop at Costco. Second, it may lead to some shoppers canceling their memberships, especially if they are not using their memberships very often.

However, it is important to note that Costco memberships still offer good value for money. Even with a price hike, Costco memberships are likely to be cheaper than shopping at other stores, especially for shoppers who buy in bulk.