The giant that grows in Spain with his payment form and low prices … and inspired Jeff Bezos to create Amazon Prime
“Everything is about customer loyalty”. This is one of the tips that would have been granted in 2001 Jim SenegalCostco founder, to Jeff BezosAmazon founder, in Starbuck Everything Store: Jeff Bezos and the Amazon era.
Apparently, Sinegal shared the cause of his annual fees, the low -price philosophy and the value you gave birth to Costco customers, which inspired Bezos to create Amazon Prime. “The membership share is a disturbance with datesCostco CEO previously said that he is strengthened every time customers enter and see forty -seven TVs that cost two hundred dollars less than anywhere else.
This subscription form and low -quality products are what it made Costco is currently a very popular company in SpainWhere there are five centers -Rosas and Getafe (Madrid), Sesto (Basque (Basque), Seville (Andalusia) and Zarajsza (Aragon) -they have the opening of four others -Batirna (Valencia), Torrigon de Ardoz (Maadrid), Malaga (Andalusia) (Astorias) -.
Another differential factor for work, as its customers indicate, is that Its products are sold in great formats You can find everything in practice: from food and drink to the first brands of clothes and technology.
“I really like it because it contains a variety of products, Not only from food, and also has things that you do not find in other supermarkets. ” Isabel Sogo. Meanwhile, Jesús García thinks at the Madrid Center in Las Rosas, which is “a good supermarket that focuses on a large purchase, Makro, but much cheaper for people on footWhere you have all kinds of products, whether they are food such as gardening, electronics and clothes … “which are the majority of” Spanish and American brands first. “
“Familiar at all”
But there is a The main component of the success of Costco is sincerity From your customers: to buy you must be a partner and pay a The annual subscription is currently 36.30 euros It also calculates other exclusive services such as optics, fuel station or tire change. This repeated customer base is essential to generate less benefits and margin in its products. It is estimated that about 90 % of its partners renew their subscription every year.
Loriano TorranzoThe President of the Spanish Retail Association (AR), was wasted by praise against the American giant, who last year obtained a net profit of 6,607 million euros, or more than 17.1 % for 2023, with approximately 900 stores in the world, and the vast majority in the United States, as it competes for the structure with Walmart. “There are two types of retailers: Those who work to learn how to charge more Those who work to discover how to charge less. “The brightest all of the time in this second group is Costco.”
For Turienzo, Costco invented a new era “by focusing on the customer rather than focusing on the margins of selling products. While many supermarkets are working for their results accounts, Costco is part of the philosophy that it buys by delegating its customers. His mission is to defend his interests as members in his club, and thus fighting to save money. This philosophy pushed him to be someone Retail/sentence traders More profitable in history. ”
Everything began in the fold of the aircraft
COSTCO originally dates back to 1976, When under the name PRICE Club, Sole Price and his son Robert collect a store in the old fold of aircraft on Maurina Street, San Diego (California). In principle, it only provides small companies, however He ended up serving individuals. This decision was crucial for the growth of subscriptions, which allowed the company to grow.
On the other side, It opens the first Costco store in Seattle in 1983 From Jeff Protman and Jim Chen are. After ten years, Costco and Price Club joins under the name Price Costco Payment form to reach warehouses and lower prices than competition. At that time, she had 206 sites and generating $ 16,000 million annually of purchase. andN 1997 The company adopts the current name of Costco in bulk.
“Coststo’s philosophy has always been simple: Maintaining low prices and saving to our subsidiaries. The company says on its website that our great membership base and our purchasing power, in addition to the results of competency that cannot be stopped in our members. ”
