One of the largest food and production chains is Costco, which not only contributes at the food level but also in the medical field with its optical services and in the oil field with its gasoline stations.
Every year, this company seeks to grow and undoubtedly sweep the U.S. food chain market, positioning its memberships as the number one in the country and who knows, in a few years, in a larger part of the world.
In fact, people wonder about whether Costco accepts WIC, about the reasons to use Costco dental insurance or about Costco’s great deals. But did you know that the company is taking it upon itself to open new stores? That’s great!
New Costco branches in the United States
By 2024, Costco is looking for a much larger monopoly in the U.S., which is why it has already opened a store in Kyle, Texas. This city is characterized for having good pastries and has had a great development of approximately 50,000 inhabitants as of the last report.
It is located 26 miles south of Austin, and finally, citizens will be able to try one of the best desserts of the chain, which is the chocolate peanut butter pie.
We’ll see if it represents a major boom in the “city of pies,” and if its receptivity is positive. The official ribbon-cutting ceremony was held at 7 am on Thursday, March 30.
Not only is this a relevant additive in the city; thanks to it, more jobs are open for the average citizen, who is looking for economic stability and a clean source of income.
The new store marks the 37th Costco location in Texas, the 585th in the U.S. and the 850th worldwide, to the delight and variety of residents.
Costco: How to continue causing an impact in other states of the U.S.
Aside from Texas, Costco wants to continue expanding and locating its stores in specific locations, which are as follows:
- Longmont, Colorado: Located at 205 Ken Pratt Blvd in Longmont, Colorado, expected to open in May.
- N. Tulsa, Oklahoma: Located at 46th Street North and U.S. 169, expected to open in late May.
- Georgetown, Texas: Located near I-35 and Lakeway Drive, it will open in June, with a date not yet confirmed by Costco.
- Sacramento, California: Located at the corner of East Commerce and Arena Boulevard in the Natomas area of Sacramento. Expected to open on Halloween.
Costco as an international chain in 2024
In addition to these expansion points, Costco is looking forward to a very busy 2024, with additional locations expected to open in Japan, Australia and China.
During the start of 2024, the company also announced upcoming locations in Sweden and New Zealand to increase operations in those locations, much to the delight of its members.
Costco currently operates more than 800 stores, comprised of 583 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in Korea, 14 in Taiwan, 14 in Australia, four in Spain; two in France and China, and one in Iceland, New Zealand and Sweden.
Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.
Costco’s success with openings
Costco’s business model remains a guaranteed success and very rarely fails, Costco focuses primarily on a physical store model, where it continues to expand its retail footprint.
Several retailers, particularly during the pandemic, have declined to open new stores, opting instead to focus on online sales, an important move, but one that could be served by putting both management points into practice.
Similarly, Costco has had considerable success with its physical stores, thanks to shoppers flocking to its wholesale warehouses for discounted merchandise, and memberships create a unique loyalty system.
While many retailers are reducing their store count, Costco has benefited by adding new stores amid a growing customer base. And internationally they are proving their expertise as they demonstrated in the US.
| Annual sales |
| $192.1 billion (2021) |
| $17.55 billion (2022) |
| $222.7 billion (2024) |
The company reported in August last year that its sales for the month reached $17.55 billion, up 11.4% from the same period in 2021. For this year, they intend to continue the chain of successes and increase their net sales with the loyalty of their customers.
In the last year, Costco had net sales of $222.7 billion, compared to $192.1 billion in 2021. In addition, its stock market listing continues to boom, seeking more customers, employees and investors.
It is also setting its sights not only on well-known locations but also to South America in a few years, where there is still no first retail store in the market.
References
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“You Are Being Redirected…” You Are Being Redirected…, https://www.savingadvice.com/articles/2023/01/10/1052240_new-costco-locations-2023.html.