In this episode, let's talk about Costco. Why is Costco such a great company and how does Costco turn customers into fans.
Costco is one of those companies that people absolutely love. It seems like they have their own cult following.
There are Costco blogs, Costco forums, and Costco Facebook groups with thousands of followers. People just absolutely love them.
But why?
At first impression, Costco makes no sense. It looks like a warehouse. Items sit on wooden pallets in dark, the aisles are unmarked.
Brand selections are limited. And you have to pay a $60 annual membership fee just to get in the door.
But still, people love them so much. The company earned a cult following all around the world.
Just when brick-and-mortar retail stores are crumbling because of the growth of e-commerce, Costco still experienced steady growth.
The question is how? How do they do it? That's what we'll be discussing in today's episode.
Check out this episode to find out more!
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Resources:
1. How Costco gained a cult following — by breaking every rule of retail
2. Charlie Munger on Amazon, Costco and General Electric. | Daily Journal 2021