Costco Is Raising Membership Prices for the First Time in 7 Years

And it goes into effect sooner than you think.

Lecia Landis/Dotdash Meredith

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Costco shoppers have always been loyal to the store and its beloved Kirkland Signature private label products. Between the bulk items, exclusive deals, and a fan-favorite bakery and food court, the club store has a cult following.

While we’ve all been concerned about losing that classic $1.50 hot dog combo since the store’s CEO stepped down in early 2024, it seems like we’ve forgotten about other areas the store uses to make money. Because while the $1.50 hot dog and drink may be here to stay, the brand is hiking up prices in a different area: membership fees.

Costco To Increase Membership Prices in September

Costco announced it’s raising the prices of all its memberships starting on Sept. 1. The Gold Star membership will increase by $5 per year and the Executive Membership will increase by $10 per year, for both personal and business memberships.

That means, beginning in September, all Gold Star members will pay $65/year and all Executive members will pay $130/year in both the U.S. and Canada.

This is the first time Costco has increased membership fees since 2017, when it raised the Gold Star Memberships from $55 to $60 and the Executive Memberships from $110 to $120. Prior to that, the store raised fees by $5 for Gold Star and $10 for Executive back in 2011.

The price hike comes after Costco reported a 7.4% increase in sales since last year, earning $24.48 billion in June compared to last year’s $22.78 billion. Costco says the new membership fees will impact more than 52 million memberships across North America—with more than half being Executive members.

Prior to the COVID-19 pandemic, Costco consistently raised its membership prices every five years or so—meaning we should have seen this increase in 2022 or 2023. However, the brand’s then-CEO vowed not to raise prices at that time since customers were dealing with heavy inflation.

Now, with a new CEO at the helm, Costco is back to its usual, incremental membership increase. But, the good news is, you have nearly two months to get a Costco membership before the fees go up, so if you’ve been considering becoming a Costco member, take this as your sign to do it now.

Read the original article on All Recipes.