Costco Tests New Entrance Scanners to Ensure Only Valid Members Gain Access, Coinciding With First Price Hike in Seven Years
Costco Tests New Entrance Scanners to Ensure Only Valid Members Gain Access, Coinciding With First Price Hike in Seven Years
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Costco is implementing nationwide membership scanners at club entrances, requiring members
00:07to scan their cards upon entry.
00:09This measure aims to convert non-members into paying members and will coincide with the
00:13first membership price hike in seven years.
00:16Costco is testing new scanners at select locations to ensure that only valid members enter their
00:21clubs.
00:22Members will need to scan their physical or digital membership cards upon entry.
00:26Guests must be accompanied by a member.
00:28This initiative aims to convert non-paying visitors into paying members, similar to Netflix's
00:33approach to password sharing.
00:34For all things money, visit Benzinga.com.