Costco Wholesale Club is raising its prices for membership, beginning on September 1. It is the first time in seven years the company will raise its membership price.
According to the wholesaler’s website, Costco will raise the price from the basic Gold Star membership from $60 to $65 annually, while the cost for the premium Executive membership will rise from $120 to $130.
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The increase in the fees comes after the company began to require members to scan their cards as they enter the store.
According to the wholesaler’s customer service webpage, membership scanning devices will be installed at the entrance of the warehouses. Members will be prompted to scan their digital or physical membership cards before entering.
The test system for the membership card scanners was initially installed in a few stores across the country in January 2024.
Last Summer, Costco said employees will be stationed at self-checkout lines to check member identification cards.
According to the company’s website, anyone with a card can bring up to two guests to the warehouse during each visit, but purchasing items is exclusive to Costco members. Primary members can assign a free household card to one other person in their home.
The retailer said non-members should not get the same benefits as card holders and membership fees play a big role in the warehouse club being able to offer low prices.