Wednesday, October 26, 2016

Amazon is failing to steal Costco's customers

Shoppers crowd the entrance to the Costco store on Oct. 5, 2016 in Altamonte Springs, Fla,. as central Floridians prepare for the anticipated strike of Hurricane Matthew. (Joe Burbank/Orlando Sentinel/TNS via Getty Images)We get it. Amazon is an e-commerce behemoth, tackling every category, from consumer products to entertainment (“Transparent,” anyone?). But despite its apparent monopoly on our shopping dollars, there’s still one major player that can’t be overlooked — Costco.

Memberships at the two companies are not mutually exclusive. Actually, of the 23% who are Costco members, 45% are Amazon Prime members as well, according to a new Morgan Stanley survey. And, of the 33% surveyed who are Prime members, 32% are also Costco members. Of the 14% of the survey respondents who shop at both, only 8% plan to shift their spending away from Costco towards Amazon.. . . more

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