Friday, June 13, 2008

Wanna Save Money at Costco?

Costco is one of the only places I go to shop for food items I know I can stock up on. The idea, of course, is to save money by buying in bulk. Did you know there are a few "signs" to watch for when shopping at Costco that can save you some mullah? Here's the low down:


#1 - The ASTERISK - Look at the price sign. If you see an asterisk it means the items will be discontinued soon. Think you might want that item? It might not be there next time, so get it now if you like it.


#2 - The CENTS - if the price of the item ENDS in as $.99 or $.95, it means the price is at it's highest possible mark up (which for Costco is 13%).

If the price ends in anything other than $.99 or $.95 or an even dollar amount (i.e. $.97 or $.96) it means the price has been dropped by the maker of the product (possibly because it might be discontinued at the location).


#3 - If you see a PLUS SIGN in the right hand corner of the price sign, it means this product is a test product. Meaning it's being tested for the demographic. So if you like it, buy it so it will continue to be available at the location. (this is why you can go to one Costco and find one product but another Costco might not carry it).


#4 - If the price is an even dollar amount (i.e. $10.00 or $23.00) it means the price has been marked down by the merchandising manager. This manager has the authority to mark prices down as much at 50%!
It can indicate a few things: 1. This was a floor model; 2. the item isn't selling so they are trying to move product; 3. they are making room for an updated product.
On larger items (furniture, computers, etc) you can negotiate a price with the merchandising manger (only) - ask for $10 or $15 more off the discounted price. They might do it.


#5 - The lowest price of clothes is found on the center table in the middle of all those tables of clothes. Start there and work your way out for the best deals on clothes you find.


#6 - Seasonal items - Costco (like most retailers) likes to stay ahead by a full season, so plan ahead.
Certain seasons present better deals on items:
Late Winter - Furniture deals are best
Late Spring - Lawn & Garden
July 4 (yes, it's a season) - Furniture
Early Fall - Fall Holiday items (Halloween, Thanksgiving)
Mid Fall (October 1 - End of Dec) - Christmas items

So these are the tips I learned from a fellow class mate of mine. Her husband is a merchandising manager and these are public tips, so no insider trading going on here. Hope it helps all of you Costco shoppers!

1 comment:

Jess said...

Holy cow. Being a Costco shopper myself these were great tips. I have noticed that everything is going up and I am paying more attention lately so this was really helpful. Thanks mucho.