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Costco Wholesale Corporation

2. What are the chief elements of Costco’s strategy?
Chief elements of Costco’s strategy were low prices, limited selection, and a treasure-hunt shopping environment. The ultra-low pricing strategy includes a mark-up capped at 14% and Kirkland, a Costco brand designed to be of equal or better quality than national brands. Product Selection is limited to 4,000 items within a wide variety of categories. Costco does however include ancillary businesses to increase member alternatives. The loss of sales from customers who refuse to purchase large amounts is considered “Intelligent loss of sales.” Treasure-Hunt Merchandising consists of a constantly changing selection of 1,000 luxury items on the floor enticing shoppers to spend more than they might otherwise by offering irresistible deals. To make Treasure-Hunt shopping profitable, Costco’s buyers purchase these items from the grey market such as wholesalers, or distressed retailers rather than manufacturers.
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Approximate Word Count: 617
Approximate Pages: 3 (250 words per double-spaced page)

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