The High Costco of Living

I’ve shared countless stories about the American economy being driven by the highest income earners. But it’s worth noting that this trend is not just limited to the luxury market. Even brands known for pushing bulk items to cost-conscious buyers are reorienting themselves in the age of the ever-expanding divide. “Costco’s latest earnings were strong across almost every major metric. But they were particularly strong amongst one crucial demographic: The company’s ‘Executive Members’ now account for a whopping 74.3% of all Costco sales, ticking up slightly from last quarter. These Executive Members are Costco’s whales — affluent, high-frequency shoppers … A retailer once built around broad middle-class value is now powered overwhelmingly by its most affluent, most loyal, most economically insulated members.” Inside America’s Costco economy.