As I mentioned about a month ago in a very quick post, CNBC has been working on a documentary about Costco. At that time I didn’t have all of the details to share with everyone, but I do now. Who can pass up an hour finding out even more about everyone’s favourite store? Here’s what CNBC has to say about the documentary:
THE COSTCO CRAZE: INSIDE THE WAREHOUSE GIANT
CNBC goes inside Costco, the huge and hugely popular chain famous for turning the experience of shopping in a warehouse into an adventure. The nation’s third largest retailer has thrived by turning convention on its head: Costco never advertises, charges its 65 million members to shop there, and doesn’t mark up any product more than 15 percent. It seems like a business model that shouldn’t work, except that it does, generating billions in profits along with intense customer loyalty.
Correspondent Carl Quintanilla shows how Costco has grown to 600 stores and $88 billion in annual sales, attracting some of the most loyal and affluent customers in the business. They return repeatedly for the treasure-hunt thrill of Costco’s constantly changing inventory, including diamond rings, steaks, wedding dresses and caskets. This CNBC Original documentary also looks at the possibility of a “Costco Effect” and explores whether buying those 28-packs of pretzels and oversized bottles of salad dressing saves money, and whether it leads customers to consume more.
I am positive that you will all want to catch this, so be sure to have your TiVo (or DVR of your choice) set to record when it premieres on Thursday, April 26th at 9 pm ET/PT. Of course, if you miss that showing you can catch it at 10 pm ET, 12 am ET and 1 am ET as well. I’ll post an update with information about when CNBC in Europe and Asia will be airing the documentary too.