Costco Revealed How Much the Average Shopper Spends per Visit
Costco was founded on the promise of providing its members with the best possible prices on brand-name products. Perhaps the concept of spending more to save more explains why the average shopper spends significantly more per Costco visit than they do at competing retailers.
Per Business Insider, recent data from market-research firm Numerator found that the average Costco shopper spends just over $100 per visit for a total of around $3,000 per year. In comparison, the average Target shopper spends $50 per visit, and the average Walmart shopper spends $54 per visit.
The study also found that roughly one-third of U.S. shoppers are Costco customers, and that the company is expanding, adding about three new customers for every two it lost last year.
However, it’s important to note that Numerator’s findings rely on data provided by the firm’s own Receipt Hog app, meaning that these averages represent a small percentage of total Costco transactions.
According to The Hill, a representative for Costco told Nexstar Media Group that the average Costco shopper actually spends “roughly $150 per order.”
In a March 2023 earnings call, Costco CFO Richard Galanti added that the average Executive Costco member — who pays for a $120 membership, as opposed to the basic $60 Business of Gold Star membership — “spends more and shops more” compared to other customers.
For now, we’ll have to wait and see if Costco’s customer expansion holds, with membership prices set to rise in 2023. During the March earnings call, Galanti noted that Costco tends to raise membership prices every 5 years and 7 months, meaning that an increase could affect customers this year.
“It’s a question of when, not if,” Gallanti said of membership price increases.