Costco membership prices went up in 2024, but so far there are no planned increases for 2025.
It's possible that another price hike could happen, but since the 2024 increase was the first one in seven years, it seems unlikely that Costco will take this kind of action again in 2025.
Will the Costco membership price increase?
It's very unlikely that Costco membership prices will go up in 2025.
In July 2024, Costco Canada announced it was going to raise membership fees. Two months later, in September, the Gold Star-level membership went up by $5 and the Executive level was raised by $10.
This was the first time that Costco had raised its prices in seven years. Based on this information alone, Canadian shoppers are likely safe from another price bump for a few more years.
So what do we know about the future of Costco membership prices?
The average time between price increases is approximately 5 years and 7 months. This means that we likely won't see another membership price hike until at least 2029 – but there’s no way to know for certain.
Costco's first communication about possible membership price increases in 2024 came on the heels of a similar announcement from Sam's Club, which is the Walmart-owned wholesale giant and fierce Costco competitor.
The cost of a Sam's Club membership went up in August 2022, and this was the first price increase in nine years. It isn't likely that Sam's will raise prices again in 2025, making it equally unlikely that Costco will bump its prices.
What are the new Costco membership prices?
Right now, a Gold Star membership at Costco Canada is $65 for the year. An annual Executive membership rings up at $130.
This means that the cost of both types of membership options went up by 8.33%. This is just a bit lower than the 2017 price increase that saw the numbers go up by 9%.
These may not sound like large differences, but as Canadians are facing the effects of rising inflation at every turn, this increase still hurts.
However, Costco maintains a membership renewal rate of 92.5% – aka, Canadians really love Costco. The Costco return policy is a big part of that, as are the sales and savings that generally come with shopping in bulk.
All of this is to say that even with membership fee increases, Canadians aren't deterred from shopping at Costco.
Is a Costco membership worth it?
Yes, a Costco membership has a lot of benefits for the right kind of shopper, no matter the size of your household.
An annual membership to shop at Costo can be worth it if…
- You appreciate lower costs more than convenience in shopping
- You have space at home to store bulk items
- You have a vehicle or some kind of transportation option with plenty of storage/carrying space
- You live within easy distance of a Costco warehouse location
- You'll make use of extra services like gas stations, pharmacies, etc.
- You value flexible return and exchange policies
FAQ
Is Costco membership going up in Canada?
No, there are no plans for a Costco membership increase in 2025. The prices went up in 2024 and since Costco only does this approximately every 5-7 years, it's unlikely they'll do it again in 2025.
Did Costco's membership go up in 2024?
Yes, all of the annual Costco membership prices went up by 8.33% in September of 2024. A Gold Star membership is now $65 for the year, and an annual Executive membership now costs $130.
How much is the Costco Executive Membership fee in 2024?
An Executive membership at Costco Canada rings up at $130 for the year. This membership tier earns 2% cash back on Costco purchases, up to a maximum of $1,250 per year – meaning that your membership may pay for itself.
Is Costco membership cheaper for seniors?
Unfortunately, no, there aren't any senior discounts available for Costco membership prices. Even at the full price, though, a Costco membership can be well worth it for seniors, depending on their lifestyle and shopping habits.
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