Entity: COSTCO-WHOLESALE
Costco is a membership-based wholesale corporation that offers quality, brand-name merchandise at lower prices than traditional retail sources. Originally known as 'Cost Company,' Costco aims to provide customers with cost-effective shopping options.
COSTCO-WHOLESALE
Etymology
The original name 'Cost Company' is believed to be a shorthand version that reflects the company's commitment to providing customers with the lowest costs on wholesale items.
Definition
Costco is a membership-based wholesale corporation that offers quality, brand-name merchandise at substantially lower prices than traditional retail sources. It operates under the 'Costco Wholesale' name and provides cost-effective shopping options for its members.
Historical Context
Costco originally began with a wholesale business model targeting businesses as members but later expanded to include individual consumers. The company also offers its private label brand products to cater to a wider customer base.
Cultural Significance
Costco is known for its bulk discounts and high-quality merchandise, attracting a diverse customer base seeking cost-effective shopping options. The company's commitment to providing value to its members has established it as a popular shopping destination.
Related Concepts
Costco's business model blurs the lines between wholesaling and retailing, offering a unique shopping experience that combines the benefits of both. The company's focus on quality, affordability, and customer satisfaction sets it apart in the retail industry.
See Also
A membership-based wholesale corporation offering quality merchandise at discounted prices, known for its cost-effective shopping options.