Maybe it's because we work with and write for a bunch of hyper enthusiastic Costco fans, but it seems like Costco fever is on the rise. Turns out, it's not just us.
According to Business Insider, the bulk retail giant saw an impressive 28.5% growth in online sales during its second quarter, with same-store sales seeing an increase of 8.4% as well.
Costco has made a concerted effort to boost its online presence recently and it appears to be paying off. "There's a lot of low-hanging fruit there, because there's a lot of things we haven't done in the past," Costco CFO Richard Galanti told board members.
Costco was late to the online shopping boom compared to its major competitors, Walmart and Target. But thanks to initiatives like two-day delivery and Instacart, Costco is seeing major returns on their web-focused efforts.
The company's email marketing campaign helped raise customer awareness of their new services, incentivizing folks with deals and timely information. "We're sending them some really hot items, including some 'while supplies last in stores' on some of these items," Galanti said.
With Sam's Club getting in the online game and Amazon continuing to offer a wide variety of grocery options, one can only assume that Costco will continue to explore and expand their online presence.
Do you shop online at Costco? How has the experience been for you?