Costco stands out as a remarkable company with a rich history of achievements, as I highlighted in the previous week’s article. Here are some impressive facts about this retail giant:
They are responsible for distributing half of the world’s cashews.
Annually, they sell more than 100 million rotisserie chickens.
Their decision to stock a book can account for up to 25% of its total sales.
In 2016, their egg sales exceeded 4 billion.
Their fish sales surpassed $1.5 billion in 2014.
An astonishing 75% of Iceland’s population are members of Costco.
In 2021, they sold approximately 475,000 carats of diamonds, weighing around 12 pounds.
A record-breaking 200,000+ new members signed up in August 2019, anticipating the opening of China’s first Costco warehouse.
The Hamamatsu Costco in Japan set a record with over $4.95 million in sales on its opening day.
In Spain, small businesses constitute 40% of Costco’s vendors.
Costco is Canada’s second-largest retailer.
Their food court generated over $1.4 billion in sales in 2022.
These facts underscore Costco’s significant sales, diverse product range, global influence, and potential impact on businesses. Aspiring vendors shouldn’t be daunted; with Costco, there’s an opportunity for worldwide exposure. To become a vendor, you need to supply high-volume, high-quality goods at great value, complying with Costco’s Vendor Code of Ethics.
Costco collaborates with numerous small businesses and farmers, providing them with a unique platform. Each year, at the international manager meeting in Seattle, chosen vendors get a chance to showcase their products to warehouse managers globally, akin to an in-house sampling preview. This exposure enables smaller vendors to compete with major players like Proctor & Gamble.
Beyond profitability, Costco’s vendor partnerships enhance productivity. Their buyers visit production sites and farms globally, aiding in efficiency and quality improvement while cutting production costs.
