Costco - Why They're So Successful

Follow by Email
Facebook
Twitter
Instagram
Start your free trial today at http://www.squarespace.com/companyman to get 10% off your first purchase. My NEW Website: https://companyman.squarespace.com Patreon: https://www.patreon.com/companyman Episode Description: There's no company out there quite like Costco. It continues to grow in popularity and that success can be attributed to some unique strategies. This video outlines these strategies and attempts answer why Costco is so successful. Follow Me on Twitter - https://twitter.com/MikeCompany17 ______________________________ Company Declines: Kmart: https://youtu.be/1__Qg1toSSs Blockbuster: https://youtu.be/5sMXR7rK40U RadioShack: https://youtu.be/JFivtOmXPPM Solo Cups: https://youtu.be/YjzGKc4mynU Toys "R" Us: https://youtu.be/4JYUo9WKkao hhgregg: https://youtu.be/g6j4aoHbWdw Pan Am: https://youtu.be/YInewzLzc78 ESPN: https://youtu.be/bt-4PbhpGYE Gibson: https://youtu.be/apQ9SO7uF60 ______________________________ Intro Made By - https://www.youtube.com/channel/UCqi0-4XRvQLBo8E5r8bvPsA

Comments from Youtube

unleashed rider : its actually $1.50 for a 1/4 lb hot dog and a twenty ounce soft drink plus a refill and you dont need a membership to buy one. when i was homeless and refused to beg, instead going dumpster diving in filthy disgusting dumbsters for cans. this was a life saver. i would only make $7 a day after 10 to 12 hrs of canning and im so greatful of having that food for the price.

TheDragonCat99 : It's sad that a generous play-style that benefits everyone involved is considered "unique."

Sunny shah : Here is the one key to a successful business, it's your employees if you keep your employees happy, and not miserable, your business will automatically do better in revenues a lot of places like WalMart has terrible customer service, because most employees there are miserable ever seen a happy WalMart employee?, it's a rare sight while at Costco, most employees i see are pretty happy and glad to help the customers keep your employees happy, and they will run your business for you

Rathanak's Life : If you drive a lot, the costco membership for gas alone IS worth it

TAP2K : Finally made the Costco video! Awesome thank you! Edit: I just Got to the part of the video with my comments, didnโ€™t expect that Haha. thanks again!

Juke Joint : They treat and pay their employee well. The CEO doesn't make millions of dollars a year. He makes $350,000 a year.

Jerry Kelley : I've been a member of Costco since 1984, only back then it was known as Price Club. I've found the employees to be very helpful and friendly. I noticed many of them began working there and retiring 30 and 40 years later. I've seen more happy employees there than any place I've shopped at.

Johann Beda : I think I read an article talking about how Costco has a significant number of executive and top managers who started out as low level warehouse employees. I believe they have a policy of trying to advance the employees through different positions and have programs for college and other training. Hiring from within helps to create a culture where the employees have a sense of loyalty and belonging.

Life in the 413 : That Costco employee has nothing to worry about. I feel bad for the Walmart employee. He works for a company that pays its workers crap and will always pay their workers crap and forcing them to rely on government assistance. The Walton family is utter trash, but what do you expect from Arkansas, maybe that's the reason Costco isn't there, enjoy your Walmart starvation wages. The Amazon owned Whole Foods is the same, Jeff Bezos doesn't pay his workers crap either. Costco will eat both of their lunches.

Naughty Nihilist : Costco: Your go to stop for when you need 200 gallons of car wash soap.

Brandon Beavis Investing : Just came back from Mexico and Costco was bumpin' there too! Costco Fiesta ๐ŸŽ‰

Sunny shah : The membership is worth it, over time, you will actually be saving more money by shopping at Costco because you get more quantity for what you pay i shop at Costco every month, because that's how long the supplies i need last while if i were to buy the same amount of things at WalMart, i would have to shop every 2 weeks, and end up spending a whole lot more

Michael Kalm : Quality of Costco's Kirkland brand really high and consistent. Quality of prepared foods, baked goods, really high. And that Pumpkin pie for Thanksgiving and holidays - Yum!

Alika Ostermiller : You had a picture of the Costco in Maui. It is the most profitable Costco in the world. During Christmas time it has million dollar days.

chucknastyness : Arkansas has Sam's Clubs because Wal Mart started there. They don't wanna piss off the Wal Mart family with the low low prices of Costco.

P. Peter R : I have an executive membership which means I get 2% back (a check in the mail) every year. I get about $170, give to take. One retail trick they use is to send your 2% check about 3 months before your membership expires, hoping that you'll use it to purchase some bigger ticket items with the 'extra money' you got back. Instead, I save mine in my wallet and until my membership needs to be renewed so I can use it on that day. Every time I do it, the cashiers remark something like "You mean you held on to this for 3 months?!"

terrenceswiff : I recently got a Costco membership and the entire process of getting a membership, getting groceries, getting food, it was all, like, enlightening. They explained everything perfectly well when I got the membership, and in perfect English too. I should probably say, I'm in JAPAN. I don't know if that's a standard or what but there was at least one employee who was fluent in English and walked me through everything nicely (despite there being some confusion at the start). By the way, the membership is like $20 less here, 4,400 yen per year. I wish I'd known about this place when I first arrived in Japan, cause it's practically a hop skip and a jump from where I currently live.

Tort ุชูˆุฑุช : Costco is bae <3 As a kid i was entranced by Costco, it was a sneaky way for my parents to convince me to go out and do errands with themโ€”just assure me that one of the places they needed to stop was Costco! Not only did I just love the layout and huge quantities in the store but I was always rewarded with one of those delicious $1.45 berry smoothies. Unlike any other smoothie I've ever had.... that distinct fine gritty texture and taste are etched into my brain forever.

Steely : I love Costco. It is seriously one of my favorite stores. And to the person who works there - don't listen to people who say that it's going to eventually be like Walmart. Costco's excellent treatment of their employees is a part of their reputation and, I don't doubt, a differentiator between them and their biggest competition - the Walmart-owned Sam's Club. I don't think that Costco will change their corporate culture anytime soon.

moviemagic : Could you do a video on what happened to Sam's Club?

manuel !!! : Kirkland toilet paper๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜

hognigk96 : lol Costco opened in Iceland before Arkansas

Uriah Siner : RIP Polish Dog.

Socorro Soza : I honestly want to take a girl out to Costco. (I would have to do something else supplementary though and obviously not on the first date.) If she has fun thats a good sign.

ayyymate : If you havent been to a Costco... *You have not lived*

Apple User 193 : My parents have been a member since 1999. I love Costco so much. Itโ€™s such a good store. The membership is a little annoying but you get really really really good service. And yes a Costco membership is worth it

softbatch! : I'm inclined to give my business to a company like Costco that takes such good care of their employees. I'm all about good customer service. It's my favorite reason to return to a store or shop. It's upsetting to me when I'm handing over money to a sour faced associate who'd rather not be there.

Rozeta Nastimi : 20 dollars an hour!!! I found my school job

SML Fan18 : My local supermarket sells rotisserie chicken for $4.99 without membership

TheSpaceDuck : They tore down a Costco near me..... Just to build a bigger one 5x as big.. it was glorious.

Overstar : Well, looks like I am never moving to Arkansas.

OBAMA : 1 hot dog and 1 drink for $1.5 ez homeless person meal

CJFAULKNER : You should also mention the quality of Costco's merchandise, especially the house brand- Kirkland.

Benji B. : Costco's great. I hope they continue to do really well.

Dave Moreno : why is your content so addictive? your videos are as good as costco samples. ๐Ÿ™‚๐Ÿ‘

Tommy Culver : I'm not a Costco member, but after this video I might look into becoming one. I think I like their strategy! You make great, well resourced, well thought out, and well orated videos! I appreciate your hard work.

Mexlycan Lobo : Hey WallMart are u listening?

David Gabachin : I love Costco ! Is the best company that I ever work before !!!! And God will help Costco to be always one of the biggest company in the word !

Zachary Grigley : I always feel bad for the regular Wal-Mart employees. Costco isn't depressing like Wal-Mart.

mexgeo86 : The gas fuel savings alone pay for the membership.

SDZ : Costco is amazing. Sucks to be in Arkansas.

Nicholas Winn : The pharmacy there always beats other places in the area (walgreens, cvs, walmart) and you don't need a membership to buy from the pharmacy.

Sean C. : 1:30 I think every company saw a drop in revenue in 2008-2009 ...Thanks Lehman Brothers ๐Ÿ–•

Mike Spencer : stack it deep sell it cheap. ask sears and kmart they forgot about that. lol

SirWrecksy : Costco is the bee's knees... Can't believe it took me so long to figure that out

Oink Oink : In the Philippines, we have S&R. Itโ€™s pretty similar

Alexander Coultas : Costco is the catโ€™s pajamas. The CEO even refused a raise. Plus those $1.50 hot dogs.

Endrank luvs da 4 loko : Welcome to Costco. I love you.

1,000 SUBS WITH 2 VIDEOS : Aaaand you can't forget the free samples! ๐Ÿ˜‹