Costco ended itslatest quarterwith 74.5 million paid household members, a 7.8% increase from the prior year.
Those millions of members all need to pay dues each year depending on which membership tier they opt for.
Those who shell out for the pricier Executive Membership can also receive 2% cash back on qualifying purchases.
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This reward add up fast for customers who shop at Costco often.
PerFortune, Costco’s membership has skyrocketed by a whopping 50% just since 2016.
Membership sales could become even more fruitful for Costco if it follows through on its long-anticipated membership fee hike.
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However, Costcohas yet to decideon when to roll out the fee hike.
