Costco Tests New Entrance Scanners to Ensure Only Valid Members Gain Access, Coinciding With First Price Hike in Seven Years
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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.