Costco changing hours for executive members on June 30
Costco is rolling out earlier shopping hours for executive members at U.S. warehouses — a subtle but significant shift nearly a year after raising membership fees for the first time since 2017.
Why it matters: The perk is a way to add value to the membership club's top tier and potentially increase the ranks of executive members who make up a higher percentage of sales.
Executive members make up more than 47% of Costco's paid memberships but represent 73.1% of sales globally, Costco CFO Gary Millerchip said on a May 29 earnings call.
The big picture: The move mirrors a tactic from rival Sam's Club, which has long offered exclusive hours and extra perks to its premium-tier members.
Costco previously had early hours for executive members and during the pandemic opened early some days for seniors and members with disabilities.
When do Costco executive member hours start?
Zoom in: Costco said in an email to members that the new executive member benefits are effective Monday, June 30.
Warehouses will open at 9am daily exclusively for executive members.
Another new benefit is a $10 monthly credit on same-day or Costco via Instacart orders of $150 or more.
New Costco early executive shopping hours
The following are Costco's new early shopping hours:
Monday to Friday: 9am to 10am
Saturday: 9am to 9:30am
Sunday: 9am to 10am
Yes, but: Locations that had been open at 9am for all members will also make a change.
"Our U.S. locations that currently open at 9 am, will transition June 30th to limiting access to Executive Members only during the times outlined," Costco said in a comment on its Instagram post.
Clubs will open at 10am weekdays and Sundays for all members and 9:30am on Saturdays.
Costco's business centers and gas stations are not affected with the changes.
Costco Saturday hours extended for all members
What's next: Costco said that "U.S. warehouses will stay open one extra hour on Saturdays, closing at 7 pm for all members."
Costco membership cost, executive member benefits
Flashback: Costco increased membership fees for both Gold Star and Executive tiers by $5 and $10 respectively, effective Sept. 1, 2024.
Gold Star and business membership fees are $65, up from $60.
Executive membership fees are double the basic membership's price but members earn a 2% reward on eligible purchases. The $130 annual fee is up from $120.
The special hours come after the wholesale club's membership card sharing crackdown went national with scanners at club entrances. The scanners can identify which membership level a member has.
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