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1. Costco’s decision to scan membership cards at the entrance ensures only paying members can shop, protecting the value of memberships. This move aligns with the principle of making sure that when a business does well, its customers benefit too, leading to increased loyalty and word-of-mouth promotion.
2. Despite raising membership fees, Costco implemented stricter member verification, ensuring only legitimate customers benefit from lower prices. This strategy, while unconventional, has been met with positive reactions, showing that aligning business practices with customer value can foster strong brand loyalty.
By Bryan Powell | AUG 13, 2024
Read the original article at FORBES
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