Costco's online business in the United States grew rapidly with sales reaching $18.2 billion in March

Recently, Costco in the United States released its financial report for March. Data showed that Costco 's sales in March increased by nearly 18% to US $18.21 billion from US $15.5 billion in the same period last year. Among them, same-store sales increased by 16% and online sales increased by 57.7%.

In fact, in fiscal 2020, which ended in August last year, Costco's sales increased by 9% to $166.8 billion, setting a record for Costco's highest annual sales. Among them, comparable store sales increased by 9.2%, e-commerce sales increased by 50%, and earnings per share increased by 9%.

According to Costco, this is mainly due to its continuous improvement of e-commerce functions (the key is delivery service) and enhanced customer experience. In addition, Costco's membership renewal rate in the United States and Canada increased from 90.9% in the second quarter to 91% year-on-year, and its global renewal rate also expanded from 88.4% to 88.5%. It has to be said that Costco's subscription plan and member loyalty have deterred Walmart's Sam's Club and other challengers.

It is worth noting that Costco's rapid development has continued not only in fiscal year 2020, but also in 2021. In January 2021, Costco's net sales reached US$13.64 billion, an increase of 18% from US$11.57 billion in the same period last year. Among them, e-commerce sales soared by 107%, and the major markets of the United States and Canada still accounted for the main market share.

Costco's revenue is also very encouraging. In the first half of fiscal 2021, Costco's revenue increased by 16% year-on-year to US$88 billion. Among them, e-commerce sales soared 80% and earnings per share increased by 19%, mainly due to consumers accelerating the purchase of household necessities during the COVID-19 pandemic.

It is reported that American consumers have stockpiled a large amount of necessities such as toilet paper, toilet paper and other necessities during the COVID-19 pandemic, and this trend has continued into 2021, so it seems that household necessities will still be in high demand. In addition, online sales of categories such as groceries, garden and patio, small appliances, health and beauty, and consumer electronics at Costco are particularly strong, and sellers can also pay more attention to such sales trends.

In general, Costco's performance in 2020 is still very gratifying. With the end of the epidemic and the continuous development of e-commerce, Costco may create even more brilliant results in 2021.

Costco

March

Net Sales