Costco’s biggest competitor, Walmart, still dwarfs Costco in terms of sheer numbers. In 2016, Walmart generated over four times more retail sales than Costco, but this is not to say that Costco’s future is not bright. In recent years the company has seen continuous growth in revenue. After opening 21 new warehouses in 2018 , recent estimates predict that Costco’s worldwide revenue will rise to over 181 billion dollars by 2024, an increase from approximately 141 billion dollars in 2018.
In the United States, membership fees begin at around 60 U.S. dollars per year, which gives members access to all Costco locations worldwide. Although it may seem strange to pay a fee in order to shop at a store, the fact that Costco boasts over 94 million members worldwide speaks for itself. A Statista survey in 2018, found that around 35 percent of respondents aged 18 to 29 years regularly shopped at Costco.