Costco's Competitors

Costco Wholesale Corporation is a large wholesalers. They are known for low prices and great quality. Some may question how they became so successful or how they are Walmart’s largest competitor. Costco’s strategic planning, SWOT, future potential, forecast, workforce, compensation, and benchmarking is what makes Costco a large competition for the household name of Walmart. Strategic planning is how a company is growing their business. Costco is expanding into new markets and processes. Staying on top of the competition is being one step ahead of the game. It is also very important to know what a market needs before you begin to invest. Walmart has made their own efforts to expand into new markets and has failed.
Costco is always looking
Costco has a great reputation for having low prices for high quality goods. Also they tend to have the lowest gas prices on the market. Costco has multiple value added services. For example, they have private label goods, eye and hearing tests, and they also offer vehicle services. These value added services are a great advantage over standard wholesalers. Gale Business insight has discovered that Costco has had a great margin. They are able to keep their operating costs low while continuing to grow the company and slightly rise membership fees. Overall Costco has significant strengths in the market
& Sellner, W. Z Costco pays its employees more than Walmart. They fear this could raise their operating cost. It was said “it is better to be an employee and or consumer over being a shareholder”. This is because the margins are not as large as a company like Walmart. This is because their profit margins are low because of the quality Costco gives to their members and employees. When it comes to employee turnover, Costco has a low turnover rate. This is due to the quality of employment they deliver. Where Walmart has a lower labor cost, they have a higher turnover rate. Costco has permanent and temporary holiday employees. This helps keep the business running smoothly during the holiday season. A benefit of being a holiday employee is Costco may hire you as a permanent employee after the season is completed. I feel Costco’s strategy of employing is proper. They give the working class a confrontable salary without having to suffer the pains of working multiple