Retail chains across the U.S. have been testing how much shoppers will keep paying as food prices and household bills stay elevated. At Costco, that pressure sharpened after the warehouse club’s membership fee increase took effect on Sept. 1, 2024.
Costco raised membership prices, but renewal rates stayed above 90%
Costco Wholesale increased its annual Gold Star membership fee from $60 to $65 and its Executive membership fee from $120 to $130 on Sept. 1, 2024, the company announced in July 2024. The increase affected members in the United States and Canada, and Costco said the change would impact about 52 million memberships.
During Costco’s quarterly earnings updates in late 2024 and early 2025, the company said its worldwide renewal rate remained above 90%, with the U.S. and Canada renewal rate at about 93%. Those figures show the vast majority of members stayed, even after the $5 and $10 increases took effect.
Costco has not published a national figure for cancellations directly tied to the fee hike. What is confirmed is that some members publicly said they were leaving after the increase, while Costco’s reported renewal numbers indicate cancellations have not materially changed the company’s overall retention trend.
The local impact is hard to pin down because Costco has not released store-by-store cancellations
Costco operates hundreds of warehouses across the U.S., including large footprints in states such as California, Texas, and Florida. The company has not released a full list of locations with higher cancellation activity, and it has not broken out membership losses by city, county, or state.
That means there is no verified public data showing, for example, that shoppers in Phoenix, Chicago, or Los Angeles are cancelling at higher rates than members elsewhere. Costco’s disclosures have remained national and regional, focused on U.S. and Canada renewal percentages rather than local warehouse trends.
For customers, the practical effect is mostly the same regardless of ZIP code. If a membership comes up for renewal in 2025, the current base price remains $65 for Gold Star and $130 for Executive, unless Costco announces another change.
The bigger reason appears to be budget math, not a hidden company problem
Costco executives have tied member behavior to value, traffic, and household spending patterns in recent earnings calls. Chief Financial Officer Gary Millerchip said in 2024 that shoppers were still spending carefully, with consumers around the world remaining choiceful about where they put their money.
That helps explain why some cancellations may not be about Costco alone. A household comparing a $65 annual fee, grocery inflation over the past two years, and the cost of driving to a warehouse may decide the membership no longer saves enough, especially if shopping trips have become less frequent.
What members are not always saying outright is simple: a cancellation can reflect tighter personal budgets as much as dissatisfaction with the chain. Costco has continued to report strong renewal rates and rising sales, and the company has stated that member loyalty remains high as it moves through fiscal 2025.
