Costco and Sam's Club are the two leading warehouse clubs in the US, and they continue to compete for customers in 2024. Sam's Club has seen a significant increase in memberships among Gen Z shoppers, with a 63% growth in the past two years [df5a1505]. This influx of Gen Z shoppers has brought a fresh perspective to wholesale and bulk shopping at both Costco and Sam's Club.
In terms of sales, Costco has been successful in selling gold bars, generating up to $200 million in monthly sales [df5a1505]. Costco reported net sales of $24.5 billion for the previous five weeks, representing a 7.4% increase over last year. Additionally, Costco recorded 8.9% more foot traffic compared to the previous year [df5a1505].
On the other hand, Sam's Club reported $21.9 billion in net sales during Q4, indicating a 3.1% increase year-over-year. Sam's Club also saw a 6.1% increase in foot traffic [df5a1505].
Both warehouse clubs have a strong e-commerce presence. About a third of Sam's Club shoppers buy items online, while Costco's e-commerce sales increased by 18.4% year-over-year [df5a1505].
In terms of membership, Costco has 609 domestic stores and 882 warehouses worldwide. They are also planning to open six new stores in the next three months. Costco is raising its annual membership fees, while Sam's Club charges $50 for an annual membership [df5a1505].
Overall, Costco remains the leading warehouse club in terms of profits, foot traffic, and number of locations. However, Sam's Club is making strides in attracting Gen Z shoppers and has a strong e-commerce presence [df5a1505].