00:00so how did costco become such a massive retailer this is the full story of costco in the early
00:061970s a man named james sinigal had just been named ceo of a retail chain called price club
00:12the company was founded in 1976 by seoul and marsha price and at the time it was just a small
00:19operation with only one warehouse club open when singleton took over as ceo he quickly set about
00:25expanding the business he grew the store's footprint from 15 000 to 100 000 square feet
00:31and started offering a wider variety of products under his leadership the chain grew to 28 stores
00:37in eight different states but while singleton was successful in growing the business he knew that
00:42they weren't offering the best customer service so in order to improve he decided to do something
00:48crazy he sent out a survey to customers asking them what they wanted from the store and then he
00:54implemented their feedback immediately for example many customers complained that the store's layout
00:59was too confusing so singleton hired a professional designer to redesign the stores other customers
01:05said that they were tired of sales people following them around so singleton instructed employees to only
01:11approach customers if they needed help these changes made price club more popular than ever before
01:16but singleton wanted to take things even further he noticed that customers were always asking him when
01:21the store would be open on sundays but he knew that opening on sundays would upset his employees who
01:27valued their weekends off so he decided to close the stores on sundays and instead open them on mondays
01:33this way customers could still shop on the weekend but employees would still get one day off
01:37that decision made price club even more popular
01:40you
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