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In June, Costco extended<\/a> its hours at some stores for Executive members, adding an hour in the morning from 9 a.m. to 10 a.m. on weekdays and Sundays and a half hour from 9 a.m. to 9:30 a.m. on Saturdays. By September, the perk applied to Executive members at all Costco stores<\/a>.<\/p>\n Now, according to a new report<\/a> released on Thursday from analytics company Placer.ai<\/a>, the move has resulted in measurable effects in foot traffic for the wholesale giant, “likely improving the shopping experience for members overall” by creating “a more balanced flow of visitors.”<\/p>\n Costco’s earlier hours have shifted visits to earlier in the day while decreasing foot traffic during peak hours (which are typically weekday evenings from 4 p.m. to 7 p.m., according to House Beautiful<\/a>).<\/p>\n Related: <\/b>These Luxury Items Are Flying Off the Shelves at Costco, According to the Company’s Longtime Chairman<\/a><\/p>\n “By extending special hours to Executive members, Costco not only rewards high-value customers, but also reduces congestion during traditional peaks,” the report reads.<\/p>\n Costco’s latest quarterly report<\/a>, released in late May for the third quarter ending May 11, showed that sales momentum was strong for the company. Net sales increased 8% to $61.96 billion, up from $57.39 billion the previous year. The warehouse chain reports<\/a> its fourth quarter earnings on Sept. 25.<\/p>\n An Executive membership at Costco costs<\/a> $130 per year. The Business and Gold Star memberships are each priced at $65 annually.<\/p>\n Memberships are a prime revenue source for Costco, allowing the company to keep prices low by offsetting operating costs. Costco made about $4.8 billion in membership sales<\/a> during the 2024 fiscal year ending September 1, 2024, up from $4.6 billion<\/a> in 2023. In 2024, membership fees comprised close to 65% of Costco’s overall $7.4 billion net income for the year.<\/p>\n Related: <\/b>Costco’s CEO Says This Product Is the ‘Most Important Item We Sell’<\/a><\/p>\n The company had nearly 137 million cardholders in 2024, with a 90% renewal rate, per the company’s 2024 annual report<\/a>. Close to half of that count (47%) were Executive members.<\/p>\n Costco has 905 warehouses globally, including 624 in the U.S. and Puerto Rico, according to the quarterly report.<\/p>\n Related: <\/b>Here’s How Much a Costco Gold Bar Purchased in 2024 Is Worth Today<\/a><\/p>\n<\/div>\n In June, Costco extended<\/a> its hours at some stores for Executive members, adding an hour in the morning from 9 a.m. to 10 a.m. on weekdays and Sundays and a half hour from 9 a.m. to 9:30 a.m. on Saturdays. By September, the perk applied to Executive members at all Costco stores<\/a>.<\/p>\n Now, according to a new report<\/a> released on Thursday from analytics company Placer.ai<\/a>, the move has resulted in measurable effects in foot traffic for the wholesale giant, “likely improving the shopping experience for members overall” by creating “a more balanced flow of visitors.”<\/p>\n Costco’s earlier hours have shifted visits to earlier in the day while decreasing foot traffic during peak hours (which are typically weekday evenings from 4 p.m. to 7 p.m., according to House Beautiful<\/a>).<\/p>\n<\/div>\n