Costco Raises Membership Fees for Over 52 Million Customers for First Time in 5 Years

Costco is increasing its annual membership fees in the US and Canada, raising for regular memberships and the higher-tier Executive Membership. This is the first fee increase since June 2017. On average, Costco has historically raised prices every 5 to 6 years. The fee increases will affect about 52 million memberships, over half of which have the Executive Membership. Costco relies heavily on membership fees for revenue, using the money to help keep product prices low for members. Costco says the last fee increase was delayed due to high inflation impacting consumers.