Costco ecommerce sales climb 14.3% in Q1 2022 trading update
US wholesale retailer Costco has reported healthy sales for the first fiscal quarter of 2022, with overall comparable sales rising 15% year-over-year, and ecommerce sales climbing 14.3%. Top-performing departments in ecommerce reportedly included jewellery, tyres and home furnishings.
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Additionally, Costco Logistics, Costco’s bulk-size product online sales arm, saw a 50% jump in deliveries during the same quarter, and now represents 70% of all Costco US ecommerce big- and bulk-product shipments. The retailer has also expanded its Costco Next ecommerce programme, which allows members to buy items at “Costco value” directly from a curated selection of vendors. The programme has been in place since 2017, but was recently expanded to encompass 34 brands in total.
Chief Financial Officer Richard Galanti told analysts in a conference call that Costco was continuing to develop its online experience. “We continue to improve our ecomm mobile app with additional features,” he said. “We’ve redesigned the app header and footer. We’ve updated and improved the menu layout. Our members now have the ability to view warehouse receipts online via both the app and desktop. Our co-branded Citi Visa card can now be linked to the Digital Membership Card and used for payment.”
In addition, “Members are now able to much more easily reschedule ecomm deliveries in the U.S. and Canada. The same goes for rescheduling returns, with returns pickups.”
Costco is also improving the ecommerce amenities in its warehouses with the rollout of new ecommerce kiosks that offer “easy touchscreen ordering”, and is also rolling out ecommerce lockers. Galanti told analysts that the retailer plans to more than double its 112 locker locations across the US during the calendar year 2022.