Did you watch “The Costco Craze” on CNBC?

April 27th, 2012 · 45 Comments

So, did you watch CNBC’s “The Costco Craze” documentary last night (if you’re in the US)?  Had you entered their $10,000 Sweepstakes on Facebook?  Well, if you entered the contest then surely you watched to see if you were the lucky winner.  However, if you missed it, the lucky winner was Mia Fitzgerald.  How nice to have $10,000.00 to dream about spending this weekend, huh?

If you’re in the US (or Canada, I think), you can always catch the documentary this weekend if you didn’t tune in last night.  “The Costco Craze” will be on again Saturday evening (April 28) at 8 and 11 pm Eastern.  Or, you can put off watching it until Sunday (April 29) when it is on at 3 am Eastern.  I guess, that Sunday time is really more like Saturday night to most people.  But nonetheless you have some viewing options.  And of course, since all of those times are Eastern time, if you live on the west coast that 3 am time is only midnight for you.  Even I can stay up that late. Well, my DVR certainly can at least.  Here’s another little preview of the documentary, just to get you in the mood.  Wonder who the ‘obsessive’ fan is in this clip?  LOL



Update: I wanted to let everyone who can get CNBC Asia that “The Costco Craze” documentary should be on there this weekend on Saturday, April 28 at 12:00 & 19:00 and on Sunday, April 29 at 2:00, 8:00 & 21:00 (Singapore/Hong Kong time).

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45 Responses so far ↓

  1. 1 LynnB // 2012.05.07 at 8:20 am

    Here was a preview on CNBC that’s now on Youtube. You can also search for “Costco craze” for a bunch of youtube clips about Costco.

    http://www.youtube.com/watch?v=C185kR6taMs

  2. 2 Bella // 2012.05.07 at 8:08 am

    I wonder if they’ll put this on cnbc website or Hulu or something. Is it a cnbc original? I have seen other CNBC originals on netflix and hulu about other big companies like Walmart, Google and Coca-cola. I think they are interesting documentaries. I thought they would do one about Costco! Hopefully i’ll get to see it soon on the uk. I watch a lot of US shows.

  3. 3 Emily (Bentobloggy.com) // 2012.05.05 at 8:02 pm

    I finally got to watch it on my DVR last night! Great to see you, Kimberly, loved the documentary!

  4. 4 FrankH // 2012.05.04 at 7:10 pm

    max mark-up has been 14% forever. Cotton prices has been out of control, hence the higher prices on jeans and shirts. I have seen no change in strategies with the new CEO.

  5. 5 LynnB // 2012.05.03 at 5:37 pm

    Dianne is right about the clerks knowing you. Unless there’s a newbie at the entrance, I never have to show my card. A few of the gals even gave this guy hugs, but I think mgmt put a stop to that as they don’t do that nearly as often anymore.

    And as the show said, they all wear name tags and once they get to know you, address you by name, like “Hi Lynn, how are you today”..

    When I took my 3 month old grandson in to show him off, ever so MANY walked over to see him including the #2 guy at my warehouse.

    And folks, if you ever have a question about if they carry a product or out of stock or is it at another warehouse, go to where their computer is (usually near the checkout stands) and ask someone to look it up for you.

  6. 6 Dianne // 2012.05.03 at 2:45 pm

    The Costco Craze show was amazing and I am already a confessed Costco Addict. I enjoyed learning about how they obtain products and the 15% margin! Better yet, my husband finally saw it and is now a supportive convert! He now understands why I am SO addicted to Costco and LOVE going there. Actually, we hardly ever shop at a “real” grocery store or big box clothing or hardware stores. If Costco has jackets, shorts, whatever, we just get what they have. Most of the clerks know us and we have our favorites that we will stand in long lines to see :) We moved to Phoenix for a few years and Costco was my homesick lifesaver! Shopping online is also wonderful and I direct ship all my relatives Christmas presents which they rave about the neat stuff we send. At the store last night just got the neat combo tire pressure, window punch, seatbelt cutter tool for about $8! Great stocking stuffers!

  7. 7 LynnB // 2012.05.03 at 12:46 pm

    No Problem, Kimberly. One time a vendor rep was in town and we made a cold call on a prospective customer, the intro went, LynnB and Lane M, as we shook his hand. He looked at her and me back and forth then asked “Which is Which.

  8. 8 LynnB // 2012.05.02 at 9:53 am

    Kimberly, this Lynn is a guy…(thanks mom..lol) My big peeve like yours, the media always focuses on the BIG jars or cans, and calling it Buying in BULK. That may have been true 15-20 yrs ago, but now as we all know, you can buy a 6 or 8 pack of Bush’s baked beans, 8 pak of their wondful Kirkland Tuna….they use a whole filet, so you dont get the bits a scraps of junk fish like with name brands, and a full 7 oz where the others are shrinking in size.

    I read the Costco Connection thru and thru and learn about the products they carry….like their Kirkland tuna.

    Their ham steaks and smoked shaved ham have no nitrates, so much healthier.

    Their Trident brand of frozen fish products was featured in a recent edition of their magazine and Costco holds ALL of their vendors to the same high standards as Costco themselves.

    I’ve seen the immediately start pulling items if they had too many returns or complaints, rather than try to push them on customers as a close-out.

    And BTW, anything they ARE closing out, the price ends in .88

  9. 10 LynnB // 2012.05.01 at 5:47 pm

    Michael, I usually get $120-130 back on my former $100 exec membership, now $110, but don’t care, because even if you get $55, you are “break even” with the regular membership.

    You don’t need a gallon as they sell 64 oz jars.

    And I have learned to NEVER go home to THINK about some new and or interesting item because if you THINK you want it the next time you shop, it might be gone, so I ALWAYS buy iot and THINK about it at home, then return if if I decide I don’t want it. And I never open it if possible while in the thinking stage, so they can resell it.

    Also FYI, if you buy something and they put it in the next coupon book, you can get a credit or refund if within 30 days, OR, if more than 30 days, you take the old receipt, buy the new coupon item, then go to the return desk and return it under the old receipt.

    The folks at my Costco have told me to do just that !!!!

    I buy more produce at Sams as they have smaller bulk packages than Costco, so less waste. Or just go to Sunflower or similar as they usually have cheaper prices than the supermarket rip off chains.

  10. 11 Michael G // 2012.05.01 at 10:08 am

    I agree that CNBC’s report was, overall, favorable of COSTCO. Jim Sinegal was a CEO who truly seemed to care about his shoppers AND employees. And it’s not just lip service; prices are better and employees are paid and cared for better than those of his competitors.
    But the root of COSTCO’s success is the annual membership fees of $55 – $110, which creates a class of consumers with the mindset that they must spend “enough” to recoup that fee. Invariably, shoppers almost always buy more than they set out to. As the reported pointed out, the lack of aisle labels creates a need to “explore” each and every aisle so as not to miss out on a good price, and to toss the item(s) in the cart, whether or not it/they are actually wanted or needed. Unless, of course you are a diciplined shopper who goes in with a list and buys ONLY what’s on it…. Yes – I may need mayonnaise – but a GALLON of it? I’m curious to know if studies have been conducted on the post-COSTCO-shopping experience to determine what percentage and dollar value of goods the average shopper actually uses…and how much eventually gets tossed.

    • 12 Kimberly // 2012.05.02 at 4:02 am

      @Michael – I agree with LynnB in her response. I can make up that membership fee, quite easily in one purchase of something like eyeglasses or random things for around the house. I don’t actually think that most of the people that shop there have any trouble recouping the value of their membership without trying too hard. And I don’t think that weighs heavily on how people shop there either. I don’t waste stuff that I buy at Costco because I know what kind of quantities we can go through. People don’t shop like 12 year olds with their allowance burning a hole in their pocket just because they walked into a Costco store. I think most of the people that shop there aren’t being wasteful about how much food they buy because a lot of it is actually packaged in fairly reasonable quantities for a family – if you eat an apple a day and so does everyone else in your family, that big box from Costco goes pretty quickly. The really big spending occurs in the other sections of the store, like electronics or clothing or housewares.

      And my biggest pet peeve: YOU DO NOT NEED TO BUY A GALLON OF MAYO AT COSTCO! Or that giant bucket that they showed in the show. I’ve bought mayonnaise at Costco before it was in a slightly larger bottle than I could get at a regular grocery store and I used it all too.

  11. 13 subdave // 2012.05.01 at 12:18 am

    Enjoyed the CNBC Costco Craze after the Blues-Kings game on CNBC tonight, especially the plug for your website. I have been long COST for the past ten years, doubling my original investment. As a greedy shareholder, I suggest management boosts gross margins, only gradually and only by a percent or two. The fallout could be large, like Netflix, although they jacked up prices big time about a year ago.

    About 15 years ago, the Costco reps came into my retail store to sell memberships to their new northwest Houston store. Unfortunately, a Sam’s Club was new to the area. I dropped my membership there after about five years due to UIS — uncontrollable impulse shopping that probably would have been worse at Costco. My sister took me to the Lake Zurich, IL store a few years ago where I later consumed the best berries and king crab legs I have ever eaten.

  12. 14 Dawn // 2012.05.01 at 12:14 am

    Kimberly,

    thank goodness Karen let me know this documentary featured you…great job!! have not seen the entire episode but I too am addicted to Costco!! They have some of the greatest CLOTHES…who knew??? Women tell me, “I love that, where did you get it?!!” When I say Costco they are like…”NO WAY!!!!” Can’t beat the deals, warranties, etc. on electronics…always worth checking Costco before buying somewhere else. Saving(s) on Gas alone worth membership fee!! Hello and lots of love to you and David!!

    • 15 Kimberly // 2012.05.02 at 3:53 am

      @Dawn – Thanks for stopping by & letting me know you watched the documentary. The deals on clothes are really great, as my closet filled with Costco purchases will attest. I really like the cashmere sweaters and the workout clothing is great too. So funny that you’re a Costco addict too! Hope you’ll stop by and read the blog now and share your Costco love too! :-)

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