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    « Costco Q3 Results | Main | Costco's Unorthodox Strategy To Survive »
    Tuesday
    Jun042013

    Updates from Retail Council of Canada Conference Regarding Costco

    DateTuesday, June 4, 2013 at 4:41PM

    • Costco's strategy is to haggle for the lowest price with suppliers and after 1 day if product doesn't sell, ditch it: Candian Costco boss Louise Wendling
    • Average income of Costco customer is $93,800 vs $68,400 in US overall
    • Costco co-founder Jim Sinegal says its average hourly wage in Canada and US is $21.96, with 11% annual turnover, 5.7% after year one
    • Costco co-founder Jim Sinegal says it sold Calvin Klein jeans for $29.99 vs $$49.99 elsewhere, then lowered to $22.99/ hot seller

    Source: Marina Strauss of Globe and Mail

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