How Is Costco Successful Compared To Their Competitors

675 Words3 Pages

Although, Costco has been widely successful compared to their competitors. There are certain aspects where they need to improve to stay ahead of their competitors. Their customer and employment engagement is vital for future success. It could be beneficial for Costco to look into markets in America where they are not present, and even outside the United States. As we know time is changing. Therefore, staying on top of your game is hard, but also crucial for success in the industry. For Costco, this might need them to update their processes and goals, I believe the future lies with online shopping. Especially to compete with companies like Amazon. For a better overall success, online shopping will cover an even bigger part of a market share. This would not just increase their market share, but also helps them expand overseas. For instance, imagine if people in Mexico or other countries further down south in Latin …show more content…

I am an international student living in the States, but I had not heard of Costco until recently. I have seen the stores around, but I did not know what kind of store they were. Also, that you have to be a member was something new to me, which in fact is something I view as a strength. Making Costco more "exclusive" and limited. Also, the customers seem to get better deals that only they and fellow members would have the access to. When it comes to pricing, I believe Costco would survive a small price jump. I am not suggesting anything drastic, but a little raise would make their profits a little higher. They would also be able to offer higher-end products, which obviously comes with a higher price range. But that would create a more exclusivity for them in the future. For instance, they could offer a higher-end membership, where the customers pay more and they are the only one who gets the access to these high-end

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