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Costco Retail History

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1.3 HISTORY, GROWTH OF RETAIL INDUSTRY & GLOBAL RETAIL SCENARIO: Global Retail Scenario It is no secret that Retail has a huge role to play in the global economy. That’s why it is not surprising that in developed countries retailing is one of the most important industries. In developed economies, modern retail or organized retail has a 75-80% share in total retail as compared with developing economies. Table: 1.1 Top 10 global retailers by revenue Retail Revenue Rank Name of the company Country of origin 2012 retail revenue (US $ mn) 2012 parent company/ group revenue (US $ mn) 2012 parent company/ group net income (US $ mn) No. of countries of operation 2007-2012 Retail revenue CAGR 01 Wal-Mart store U.S. 469,162 469,162 17,756 28 4.4 % 02 Tesco U.K. 101,269 102,889 190 13 6.2% 03 Costco Wholesale Corporation U.S. 99,137 99,137 1767 9 9.0% 04 …show more content…

• The world’s population is poised to expand 50% by 2050. The world is currently 78% poor, 11% middle income and 11% rich. • Some two-thirds or $6.6 trillion out of the $10 trillion American economy is consumer spending. About 40% of that ($3 trillion) is spending on discretionary products and services. • Retail trade in Europe employs 15% of the European workforce (3 million firms and 13 million workers) • Time and quality of life are becoming relatively more important than money; 60% of Americans want to simplify their lives. • In U.S Product performance was found to be the top purchasing criterion, while environmental features were a close second in a survey.13 1.4 RETAIL GIANTS IN THE

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Introduction As the world we live in today continues to flatten, new channels begin to emerge across the globe. The technological age that we live in today has forever changed they way retailing functions, creating new opportunities for international success. However, the thought of internationalization can be daunting for many retailers, especially due the large history of retailers who have expanded internationally and then failed. Although this type of expansion can be overwhelming, if done properly, the new retail format can generate a great deal of success for the retailer.

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In Costco’s macro-environment, a variety of factors could affect the company’s economic viability. External factors such as inflation, foreign currency exchange rates, levels of unemployment, reduced consumer confidence, and changes in tax policies could unfavorably affect the demand for Costco’s products and services. Prices of some goods and services including food products, are often variant and subject to fluctuations deriving from changes in domestic and foreign supply and demand, competition, taxes, labor costs, or delays in delivery which could significantly affect Costco’s sales. Therefore, the product’s costs and selling could also increase affecting financial results. Other important economic factors include the increasing international

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Key Trends – Globalisation One of the main opportunities Costco has is more global expansion to specific targeted countries. Although operating in many countries, Costco is heavily dependent on the U.S. and Canadian markets. It still has the opportunity to expand into the Asian and Australian markets where it has a limited presence. Costco has the capability to operate about 100 stores in Taiwan, Korea and Japan combined and about 20 stores in Australia. It currently has 41 stores in Taiwan, Korea and Japan combined and 6 stores in Australia.

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I walked to Costco it's, my favorite supplier I came to a halt when I realized that I didn't pick up a flyer I gripped my cart tightly and sped past aisle seven I finally made it to the food court and it smelt like heaven I glanced at some signs and they informed me about the sales I also checked my phone and my mom said "Pick up four pales" I raced to the checkout to get a good spot in line I was told that my membership expired so I had to pay fine I am officially broke from all the money I had to spend

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Market Segmentation: To be of value market segments must be measurable, substantial, accessible, differentiable, and actionable (Kotler & Keller, 2012). Segmentation of demographics for Costco is vast as the current product offerings include all genders, ethnicities, incomes. age groups, and social classes. When considering demographics, it is important to consider the average or typical characteristics of the target market. As mentioned earlier the target market or focus for this company is supplying the small- to medium-sized business and targets the middle- to high-end consumer with its private label brand Kirkland Signature.

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