Costco is preparing for a year of expansion after a complicated period marked by closures and adjustments in its operations. The company, recognized as a leader in the retail sector, confirmed its plan to open new branches in the United States by 2025, despite the economic and operational challenges that have affected the industry in general.
A Sector Hit by Inflation and Limited Consumer Spending
A recent CoreSight study revealed that more than 7,100 retail stores will close in the U.S. during 2023, a 69% increase over the previous year. The main factors include high inflation, which has reduced consumer discretionary spending, and operational problems such as increased theft. Costco, like other chains, faced these difficulties, which led to the closure of some of its branches.
However, the company has opted for a growth strategy. By 2025, it will open new stores of up to 147,000 square feet in strategic locations, such as Brentwood and Highlands, California. Also, Weatherford and Prosper, Texas, Genesee County, Michigan, and Sharon, Massachusetts.
Strengthening Security to Protect Customers
In response to the growing theft problem, Costco will implement a new security system in its stores. Starting in the coming months, consumers will be required to scan their physical or digital membership card upon entering the store.
This measure not only aims to prevent identity theft, but also to reinforce control in the facilities. Those who do not have a membership card must be accompanied by an active member to gain access.
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