Costco Increases Membership Costs for 52 Million Customers for the First Time in 7 Years
The wholesale retailer is upping the membership fees starting on Sept. 1
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Shopping at Costco now comes at a higher price.
The retailer issued a press release on Wednesday, July 10 announcing that the annual membership fee is rising from $60 to $65 (or jumping from $120 to $130 for executive membership fees). This marks the first time that Costco has raised membership costs since 2017.
The steeper price tag goes into effect on Sept. 1 for members in the U.S. and Canada. Costco says the change will impact 52 million memberships.
PEOPLE reached out to Costco for further comment but did not immediately hear back.
The retailer has taken steps to ensure those paying the membership fees are the only ones reaping the benefits, including at the food court.
Related: Creator Ate Nothing but the $1.50 Costco Hot Dog Meal for a Week — Here's What Happened
In March, a Reddit user posted a photo of a sign, allegedly taken at a Costco location in Orlando, reinforcing the rules that only Costco members can buy the famously inexpensive food court items, like the $1.50 hot dog and soda deal.
Cal Sport Media via AP
Costco has cracked down on non-members dining at food courts“Effective April 8, 2024, an active Costco membership card will be required to purchase items from our food court. You can join today. Please see our membership counter for details,” the sign read according to the Reddit photo.
In June 2023, the company attempted to crack down on membership card sharing by implementing photo-verification systems at its self-checkout kiosks.
Related: Costco's Craziest Items for Sale: From Gold Bars and Caskets to 72 Lb. Blocks of Cheese
A representative at Costco told PEOPLE at the time that “Costco is able to keep our prices as low as possible because our membership fees help offset our operational expenses, making our membership fee and structure important to us.”
The statement continued, “We don’t feel it’s right that non-members receive the same benefits and pricing as our members.”
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