Costco shoppers, here’s another reason to celebrate your superstore. According to a price check conducted by J.P. Morgan on Friday, October 13, Costco products are 58 percent cheaper than those at Whole Foods.
The price check examined shopping baskets of perishable groceries, dry goods, and household items from Costco, Whole Foods, Walmart, Target, and Aldi. Costco offered the least expensive products in every scenario.
“[Costco] offers an unquestioned value [proposition] with the best pricing, curated assortment, strong private label offering, and treasure hunt atmosphere,” J.P. Morgan analyst Christopher Horvers wrote in a note to clients, according to CNBC.
This isn’t the first time the grocery chain has been ranked the cheapest when compared to other retailers. In June, a study from BMO Capital Markets found that national brands on Costco.com are 19 percent cheaper than on Amazon.
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While it’s true that the Costco-style of shopping may not be for everyone (most items are sold in bulk), the store has recently begun offering more niche items, such as popular Korean beauty products, and even introduced a wedding registry. Plus, membership has benefits we bet you had no idea existed, from technical support to discounted movie tickets.
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Considering Whole Foods lowered their prices following the Amazon acquisition, we wouldn’t have expected the percent difference to be so high between the two stores. Then again, there are ways to get good deals at Whole Foods, from using your Uber credits to flipping through their deal book.
If you’re interested in a Costco membership, good news: the store recently announced two new online grocery programs. The first is a two-day delivery service on “Costco Grocery” items, and the second is a same-day delivery service through a partnership with Instacart. But if you’re really a true fan, you’ll do more than just order online. Just ask this couple who got married in the food court or this little girl who had an epic Costco-themed birthday party.