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    « Updates from Retail Council of Canada Conference Regarding Costco | Main | New Costco West Edmonton »
    Friday
    Mar082013

    Costco's Unorthodox Strategy To Survive

    Here is an interesting piece from Business Insider on the traits that set Costco apart:

    1. Costco sells a limited number of items.
    2. Costco relies on customers purchasing high volumes.
    3. Costco has customers pay for memberships.
    4. Costco offers workers better pay.
    5. Costco aims for high-end customers
    6. Costco doesn't advertise.
    7. Costco offers some of the industry's best health care benefits.
    8. Founder Jim Sinegal ignores Wall Street's advice to raise prices.
    9. Costco offers very small mark-ups.
    10. Craig Jelinek makes a low salary by Fortune 500 CEO standards.
    11. Costco works with unions.
    12. Costco focuses on providing value to small business entrepreneurs.
    13. Costco is always working to refine selections.
    14. Costco refunds memberships or purchases for any reason.

    Full article is here

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