Josh Bishop’s Post

Went to Costco Wholesale as a guest this morning with my Aunt, here's some things I learned: --> Don't go on the 1st of the month...regardless of the invitation. --> Don't go on a Friday right before a major holiday weekend...regardless of the invitation. --> Listen to Dave G. on when to actually go 🤷♂️ --> I see why people can easily spend several hundred's of $$$ on each trip. --> Be disciplined on what you're going for (I wasn't as much, only got two things extra for kids not part of list -- see note above!) --> Need to explore more options of membership for my family, might be worth it for meats and bulk items of TP, paper towels, laundry detergent, etc. --> That rotisserie chicken might be worth the membership alone!! 🐔 🐔 --> Need to bring bags and/or have them easily accessible Now, who wants to buy #live2lead tickets to make up for my Costco run? 😉 https://lnkd.in/eNS6_a6C What else should I know about membership?

I can’t stand Costco for this reason… I hate being limited! They don’t give me great choices with the flavors/varieties they sell. Buying KIND Bars? Here’s a box of 20. 10 of Dark Chocolate Almond,  10 of Salted Caramel. You don’t like Salted Caramel? Too bad! Want Popcorners? We’ll give you a box with: -8 Sea Salt -4 Spicy Queso -10 Kettle Corn -8 White Cheddar 🤢 (I just want Kettle Corn 😭) Okay, you get my point! What’s this gotta do with business? At my agency Day3 Media we don’t stuff our style down your throat. Yes we have our vision, taste, style, opinions, etc We share our work with you. But at the end of the day if you don’t like it we figure something out that suits your taste while incorporating our expertise. We recently did two logo projects. 1 project is complete and the other is nearing completion. We work and work and work until you are perfectly happy with your website and brand. I think both my clients will attest to this! I will share these projects Wednesday and Thursday IYH. Tap the 🛎️ so you don’t miss it. Okay now I’ll admit I really do like Costco but that limited feeling really irks me. Do you like Costco? Happy Day3 ✌️ Eli P.S I force myself to eat the Salted Caramel KIND Bars because ya know…The cheaper it is the better it tastes 👅

I prefer Sam's Club over Costco. However, I feel Costco's Kirkland brand & products is higher quality than Sam's Members Mark. Their produce usually lasts longer. Their prices are pretty much the same as their competitors sometimes more, sometimes less. Costco definitely has the better pizza. "So Steve, it sounds like you actually prefer Costco..." Nope. Sam's is 15 mins closer to my house which saves me 30 mins round trip. Sam's has a scan & go app where I can scan and pay for products on my phone and skip the registers. Even though Costco has some great value props, they aren't the ones that are specific to what I care about. What I do care about is my time, efficiency, and convenience. Find the right value to your customers. #sales #salestraining #salesexcellence

Costco Wholesale 𝗶𝘀 𝗡𝗢𝗧 𝗰𝗵𝗲𝗮𝗽! Ever noticed how Costco isn't just about affordability but a strategic mind game? Sure, their prices are moderate, but the catch is that you're buying in bulk. While Walmart may offer similar items at lower prices, Costco's marketing mastery is what sets them apart. They've masterfully crafted the perception that their profits don't come from product sales; they earn from the yearly membership subscriptions. Plus, who can resist their famous rotisserie chicken and $1.50 hot dog combo? It's all part of the psychological game that keeps customers coming back. As for many people, $𝟵.𝟵𝟵 𝗶𝘀 𝘀𝘁𝗶𝗹𝗹 $𝟵, 𝗻𝗼𝘁 $𝟭𝟬! #Costco #marketingmastery

The Masters and Costco Wholesale, two of my favorite things, share 1 thing in common: unparalleled pricing strategy. Both have premium products with dedicated fanbases. As such, they can charge a hefty sum for access to their product. Yet they get all this credit for keeping their food prices low. COSTCO - memberships are $60-$120/year but let's be honest, you aren't walking out of there with a cart <$200 unless you have some magical willpower. Depending on how many times you go, Costco is making hundreds or thousands of dollars off of each member every year. Yet what's the story that's always written? "Why Costco will never get rid of the $1.50 hot dog combo!" That's right, they make billions every year, yet the story is about the underpriced hot dog. THE MASTERS - If you can win the lottery, tickets aren't too bad. If not, you'll pay thousands for a ticket to the event, thousands on airfare and lodging, and even more for merch. All that but yet the experience is truly a tradition unlike any other. Scroll through Masters stories this week and you'll inevitably see the "Prices keep going up except for concessions" article. Where else can you get a Pimento Cheese sandy for $1.50 or a Georgia Peach Ice Cream Sandwich for $2.50? The point is both these brands have built an immense following but the story isn't about the admission price, its about the amazing deal once you get in. Just an absolute masterclass in pricing strategy and narrative framing.

This is how brands use sneaky pricing methods to trick you into buying more stuff: Perceived Discount: For example, let's say a t-shirt is priced at $50. Instead of saying it has a $10 discount, the brand would increase the perceived size of the discount and advertise it as 20% off. Phonetical Discounting: Studies have shown that people perceive numbers with fewer syllables as being smaller. This is why the number $40 seems smaller than the number $50, according to research. Decoy Pricing: Many large chains are guilty of this method. For example, let's say you buy small, medium, and large fries from McDonald's. The price difference between the medium and large fries may be so small that the only purpose of the medium fries is to act as a decoy. This boosts the sales of the large fries, making it seem like a better deal than it actually is. #pricing #consumer #psycology #shashanksingh

#CNN #FakeNews #COSTCO most popular seller - not #GoldBars, not even #RotissiereChicken - it's 1 Billion rolls of #ToiletTissue each year. CNN #AdDisguisedAsNews for promoting both the Gold Bars and the Chicken carcass doubtful 50,000 gold bars in last quarter ( = 3 months ) outsold the chicken um, #CommonSense would tell you that Chicken @ $4.99 would sell more than Gold Bars at over $2,000.... Costco supposedly 128 million members as matter of fact only 1 single Costco location would only need to sell 500 Hotdog combos a day to sell 45,000 in a quarter year ( 90 days ). #NathanielMeyersohn #DoTheMath Do your Homework and do your research and ask tough questions when common sense tells you otherwise biggest profit is also the toilet tissue ( see link in comments ) and worst profit would have to be selling gold bars at $2000 near market value - if the gold bars aren't at market value - only morons would buy them article leads people to believe Costco members are running around buying gold bars like rotisserie chickens with their heads off Costco also is probably selling more soap bars and chocolate bars more than Gold Bars quick #FactCheck indicates only 25k - 50k members out of 128 Million could have bought gold bars ( for $100 Million in sales at 2 bar max per customer ) - way less than buy the COSTCO #HOTDOG & Drink combo for $1.50 in a week #CNNbusiness meyersohn bio (in comments ) shows experience as doing an " #Enterprise " story on the $4.99 chicken at Costco before... I'm guessing Meyersohn has never even been inside a Costco I'm also guessing there are hundreds of other products at Costco that sold 50k units over 3 months by among 128 Million potential members buying their regular favorite staples - um, like the zillion cases of bottled water that moves off the floor every day. Maybe a better story would be to find out where Costco is getting the gold bars, when they are buying them - and if Costco execs are moving any gold market by buying huge quantities of gold during the year and if the execs are personally trading personal gold investments based on when Costco makes purchases

Costco made a $3B investment in price image. Price for hotdog combo should have climbed 335% over last 40 years but instead they have been stable for 40 years. Costco hot dogs are a vehicle for Costco to shape its price image. It gives you a peace of mind that you are at a place with low prices, regardless of the overpaid products 2 aisles down. They didn't just keep pricing low by taking a price cut and taking huge losses, instead: 1) They shrank drink sizes 2) They bought production in house 3) Kept choices at minimum In a world where every retailer is struggling with its pricing strategy and image, we have yet to hear complaints about pricing at Costco. It took 40 years of prudent investment in this strategy. It takes a lot of discipline to execute something like this. Costco is not the only one: 1) Trade joe did it with bananas 2) Ikea does it with their food court 3) McDonalds with dollar menu How much are you willing to invest in your price image ? If not then its worth considering. When done right its an investment that keep giving....... ---------------- I write about #pricing #discounts #revenuemanagement and #careers and share actionable pricing techniques everyday. Join 9000 other pricing professionals.

Did you know, diluting juice with water typically doesn't change the taste quality of your beverage? I do this with the juice I buy at wholesale stores, saving 1/3 - 1/2 rd of the cost. If I buy apple juice, I can have 1/2 water and juice. For grape, I can get away with 1/3. I would argue, though, powdered gatorade and water is more cost effective than anything, however. I'm just waiting for powdered apple juice.

Another quick observation today at Costco. Highly inefficient and ineffective consumer market. Glad I stuck to the tomatoes and lip balm. I thought the other day that Costco bulk sizes are a scam. Ever read the "nutritional" food labels given the product size? Or do you focus on the distraction of the food size and quantity per kilogram as a time, motion, and money saver deal? What about the people walking and driving and the parking lot exit? Frustrating? Want to buy more to sooth the nerves? Or do we put in an intersection light to smooth the traffic flow? Are your purchases rebating adequately to cover your membership? All an escalation of commitment? I was again shocked to see what was sold and what people buy. I used to be a sheep too. Glad I woke up.