Costco may be known for giving its customers the best bang for their buck, but it turns out you’re spending money with every minute you spend in the store.
Anyone who’s been to Costco knows the feeling: You go to pick up specific items and end up leaving with a cart full of random things and a huge bill.
In a joint Instagram post, business news site Morning Brew and Phil Andrews of @maxinomicsmb, a YouTube channel that explores spending habits, found that from the moment someone walks into a Costco, they’ll spend about 1.75 dollars per minute.
Andrews explains that the average person spends about 37 minutes wandering through Costco, which will result in the shopper spending about $64.75.
“That’s why the food samples are in the back, taking at least 30 seconds to walk through,” he said, which leaves plenty of time for the shopper to get distracted and add something to their cart. “And with no signs to tell you where anything is, it becomes a bit of a treasure hunt.”
However, people in the comments admitted to spending more than 37 minutes at the retail store, with one person saying they “spend 37 minutes in every aisle at Costco.” Another commenter said their family spends “at least 1.5-2 hours” at the store, and if Morning Brew and Andrews’ estimates were applied, that would equate to a bill of up to $210.
Andrews showed that between Costco, Target and Walmart, Costco had the longest “dwell time,” the amount of time people wander around.
Part of this is because the wholesaler does not implement curbside pickup or delivery, causing shoppers to spend time in the store.
“People pay to get in,” Andrews reminded viewers of Costco.
“Each square meter of floor space at Costco will do $1,900 in sales, 40% more than in 2019 — after adjusting for inflation,” he explained.
Anyone worried about Costco’s hike in the price of a soda and hot dog combo needn’t be, Andrews says, because “50 cents is peanuts compared to the ten minutes your partner is going to spend wandering until you eat it.”
People in the comments echoed the sentiment and shared that they’ve experienced the Costco effect.
“That’s why I Instacart Costco. The $14 tip is cheaper than the impulse buy I’ll get,” one user said.
“Go for milk and eggs, come back with kayaks and beach chairs,” one person joked.
“You don’t tell Costco what you need. Let Costco show you what you need,” said another.
“The treasure hunt is the best part of Costco. And the best season, the holidays, is coming, where they’ll pack every square inch with great products,” someone said.
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Image Source : nypost.com