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How Costco Mastered Capitalism Without Being Greedy
This is the wild history of Costco Wholesale and how it's the perfect example of capitalism done right. Join this channel to get access to perks:
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Disclaimer: This video is for educational and entertainment purposes only. Myself and The Channel are in no way affiliated with this company.
Costco Business History
Costco Wholesale
Established Context Costco
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Additional footage used by:
WSJ
CNBC
Fox 5 NY
CBS 8 SD
ABC
Costco
Inside Edition
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Відео

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КОМЕНТАРІ

  • @IL_Bgentyl
    @IL_Bgentyl 16 хвилин тому

    Issue is like anything people exploit it.

  • @Tranttdy
    @Tranttdy 26 хвилин тому

    The senior staffs at costco is not too good in my opinion, they are mean and can come off racist

  • @skatei
    @skatei Годину тому

    Great video!

  • @johnanderson8058
    @johnanderson8058 2 години тому

    I've been a Costco member since 1986. It changed our consumer behaviour after the first visit. We like everything about Costco, but if I had to pick a single feature, it is that Costco employees are the most satisfied in the business.

  • @dominickstewart433
    @dominickstewart433 4 години тому

    Can you do a video on Sam’s Club

  • @Quince828
    @Quince828 4 години тому

    With regard to respect for customers Costco informed me at renewal time that I wasn’t buying enough to justify my executive membership so I downgraded to a regular membership. What other retailer would tell their customer to spend less?

    • @Matanumi
      @Matanumi Годину тому

      Ones who don't NEED your money- IE a membership styled

  • @padronopusx6460
    @padronopusx6460 4 години тому

    The title is silly, the reason for any business is greed. Everyone wants to make money to buy the things they would like. People only perceive “greed” when they don’t feel like they’re getting a good deal. Greed is only bad if you are hurting people because of it, by stealing, for example.

  • @Amarmi579
    @Amarmi579 4 години тому

    Not sure about the title of this video though 🤔 can you be a capitalist and NOT be greedy?... Greediness and consumerism are the fuel of capitalism 🤷🏻‍♀️

  • @WealthyChronicle
    @WealthyChronicle 5 годин тому

    Who knew a $1.50 hot dog combo was part of a genius business model? Costco is redefining what success looks like in retail. 🔥

  • @gogameing5657
    @gogameing5657 6 годин тому

    One difference between normal subscription models is that Costco Is once per year most of the time it's Once per month

  • @lillithveil
    @lillithveil 6 годин тому

    When there's only two types of cheddar 1 is private label at 19.99 and Kirkland is 14.99 it's easy to make a choice without compromising quality. One thing I'd point out too is that costco at least where I am has to be "given" land to build and doesn't purchase outright saving them a lot of money to open stores. Costco is one of the only affordable places to buy food in my area.

  • @uuuuu9313
    @uuuuu9313 8 годин тому

    It is a not so good business as people say because when a costco opens it destroys small mom and pop grocery shops And it is a business which would be recession proof because more would be business when recession hits these type of business are invested by wall street investors which provide steady returns during recession When they would form a monopoly after destroying small shops they will slowly and gradually rise the prices and become a cheaper walmart which controls the consumers

  • @sonic_genesis
    @sonic_genesis 9 годин тому

    0:29 modern society lmao 😂

  • @matteng2332
    @matteng2332 12 годин тому

    Look, I’ve had my Costco card officially for 3 weeks. Do not badmouth my new religion.😂😂😂

  • @WhiskyAndDarts
    @WhiskyAndDarts 12 годин тому

    I know London (ON) when I see it 🤣 Are you from around here by any chance?

  • @stevehowes4394
    @stevehowes4394 13 годин тому

    Sorry, but I have to ask this. Why do you edit-out the pauses between sentences (you know…your breaths). Do you think we have such short attention spans that we won’t keep watching if you dare to take a breath during your narration? As a listener, you don’t notice it right away, but you do notice that the longer you listen the more irritated you feel. The human brain is conditioned to hear occasional pauses when somebody is speaking. It needs that split second break to absorb what’s being said. Narrating an entire 16 minute video so it sounds like one long sentence is just obnoxious. Do you have to manually go and remove all of your breaths or is there software that does it for you? Honestly, I know it’s not just you. I’ve been hearing it more and more on UA-cam and I can’t be the only one that has noticed. I don’t get it. Why is this a thing? Anyway, aside from that I enjoyed your video. Thanks for putting it out there.

    • @YeshuaAgapao
      @YeshuaAgapao 12 годин тому

      The chats in most twitch streams (alphas and younger zoomers) have the attention span of a toddler.

  • @Arena18
    @Arena18 13 годин тому

    Becouse of membership the shoplifters are out of the picture here

    • @YeshuaAgapao
      @YeshuaAgapao 12 годин тому

      Membership is only a modest deterrent for shoplifting. The anti-membership-sharing is cutting down on the shoplifting though, as is the membership card barcode scan on entry for all customers. These are also keeping the welfare/EBT people from flooding out the food court, send them back to Walmart and shoplift there. Costco has anti-shrinkage receipt inspections for all customers.

  • @YeshuaAgapao
    @YeshuaAgapao 13 годин тому

    The $1.50 hotdog/soda combo, the $10 pizza (they got rid of supreme though), and the $5 rotisserie chicken. All great stuff.

  • @leebaer1920
    @leebaer1920 13 годин тому

    Two words: "virtual cards". My bank offers virtual cards that are 100% genuine visa debit cards. You go on the app, click on a button, and you get a new card number/expiration date/CVV code you can use immediately. Similarly you can cancel one just as easy. So when I want a trial, I use a new card number for it, then set a reminder to delete the card before 30 days are up. And you can have as many as you want. It's like using a burner phone. Great banking innovation.

  • @johnatyoutube
    @johnatyoutube 14 годин тому

    Great video! It's very simple. Costco promotes quality while creating great value for their customers and by treating both customers and employees with respect and care. They put their products and services and people above profit. Other corporations should study this coop model. It's the only potentially sustainable one. We see almost all other companies in decline while Costco continues to thrive and be loved.

  • @LeightonPeters2
    @LeightonPeters2 14 годин тому

    I love these videos

  • @kennixox262
    @kennixox262 15 годин тому

    I love Costco but avoid it from Thanksgiving until after New Years. Being selective in avoiding unhealthy ultra processed foods; Costco has a fairly good selection of high quality food but their main thrust food wise is horrible. Have not purchased clothing from them in years as most of the clothing has awful brand logos on them; weird synthetic stretchy materials and size selection for those who are well over their ideal weight. I do buy paper goods and household cleaning supplies. Occasionally a bottle of wine or champaign. For me, I buy my gasoline there most times. Clean pumps and good attendants. Living in Las Vegas however, the customer base is not affluent and most of the products reflect that. In San Diego, much higher quality items.

    • @YeshuaAgapao
      @YeshuaAgapao 12 годин тому

      Costco is pretty much Walmart for clothes, but with lower prices. I want higher quality for clothes, high-end athletic, and not the 'supreme' markup / artificial scarcity junk, and get clothes mostly from specialized sources.

  • @domfazool8326
    @domfazool8326 15 годин тому

    Welcome to Costco, I love you.

  • @wulfric3543
    @wulfric3543 15 годин тому

    Loved Costco as both a consumer and an employee, but recent years the work culture has shifted a lot. There is a darkside to Costco that not a lot of people know or hear about...

    • @gsst6389
      @gsst6389 3 години тому

      Cheap prices come at a very expensive price

  • @JustinSucksTrudeau
    @JustinSucksTrudeau 15 годин тому

    Well done dude, well done 👏 ✔️ 👍

  • @kyemalexander
    @kyemalexander 16 годин тому

    This video was great! Well done!

  • @explorewithme4707
    @explorewithme4707 16 годин тому

    I’ve worked at Costco a long time. Jim was the man!

  • @ericad8412
    @ericad8412 16 годин тому

    Costco is a rare phenomenon and yet it should be standard practice if evil men knew how profitable being a good man could be more of them would practice good business standards

    • @Matanumi
      @Matanumi Годину тому

      Except they don't because everyone wants a "get rich quick" This (and Amazon) was always a long game move. That SLOWLY rose over time

  • @JLSwagger
    @JLSwagger 16 годин тому

    Great vid

  • @mikejanacone8328
    @mikejanacone8328 16 годин тому

    Costco is a great store. I love it but I’m also a member of Sam’s and one thing I do like about Sam’s is they are better on tech they have scanning go so you don’t have to wait in line and they have delivery services so you can just order online

  • @mikerock8177
    @mikerock8177 16 годин тому

    We need a Costco between Killeen and Temple Texas

  • @MasterDebator-l7u
    @MasterDebator-l7u 16 годин тому

    Costco is a great company with a great ethos and great products. Best big box retailer out there. Inversely you have stores like walmart and target who are quite literally evil. As one example, walmart used to take out life insurance policies on their older employees, and it wasn’t to payout the surviving members of the family member (employee) who’d passed. It was to collect money for the company so they could continue profiting off that individual after they’d passed. Truly a $h** company and I haven’t shopped there in over a decade.

  • @averageguy1261
    @averageguy1261 16 годин тому

    Go Costco!

  • @marshalltille7770
    @marshalltille7770 16 годин тому

    Obey the law is the first words of ethics?

    • @EstablishedContext
      @EstablishedContext 15 годин тому

      It is, I would have to assume that was influenced by Sol.

  • @dixie3087
    @dixie3087 17 годин тому

    Is this sponsored by Costco?😂

  • @michaelvincent843
    @michaelvincent843 18 годин тому

    I work building Costcos, and the culture trickles down all the way to us. Despite having the most aggressive build timeline in the industry most people are quite happy. Costco works with mostly reasonable general contractors, and having Span construction (a 100% employee owned company) erecting every non-union job there is good consistency across sites.

    • @Senorzilchnzero
      @Senorzilchnzero 14 годин тому

      Why do they have the most aggressive build timeline?

    • @michaelvincent843
      @michaelvincent843 7 годин тому

      @ honestly unclear, because they certainly do not open as many stores as demand would suggest, we have very consistently done 15-25 stores a year. I think it’s that once the store starts going up the community gets very anxious for it, always a lot of hype. Also given the warehouse style of the building allows for an aggressive timeline. You don’t really see new construction warehouse style commercial buildings too much these days, Walmart, Target, etc. aren’t really opening a ton of new stores. If you even consider those the same style. Fun fact: Home Depot essentially stopped building for over a decade, but in the last year the same builder for Costco has erected nearly a dozen, in the same style as Costco. You can find these mostly in Texas and AZ.

  • @Osanosa
    @Osanosa 19 годин тому

    One day I'll go to 'murica and will buy shitton of gummies and cheap tech

    • @YeshuaAgapao
      @YeshuaAgapao 12 годин тому

      America's production is guns, factory machinery, and junk food.

  • @tedr4526
    @tedr4526 19 годин тому

    It’s kind to f like how company’s we’re before jack Welch came along

  • @norbertfranqui
    @norbertfranqui 19 годин тому

    Well done. You deserve more subs which I’m sure you’ll get on this path.

  • @aaronhpa
    @aaronhpa 19 годин тому

    So Costco is a socialist store in a capitalism system

  • @aaronhpa
    @aaronhpa 20 годин тому

    Being *as* greedy

  • @solo2moses497
    @solo2moses497 20 годин тому

    I been to Costco once with a Costco member lot of stuff Costco I can get for the same price or less at places I like to like Walmart and Aldi that way closer to my house than Costco

    • @YeshuaAgapao
      @YeshuaAgapao 12 годин тому

      Costco is for groceries, hygiene, food court, and some housewares. Supplements, electronics, car parts, tools, pet food I prefer the competition.

    • @solo2moses497
      @solo2moses497 4 години тому

      @YeshuaAgapao sam and Walmart 5 miles from my house Costco like 25 miles in from me. Why spend money on gas to go to Costco? When there stores close to my house that offer the same thing closer

  • @KhanhNguyen-hd7ws
    @KhanhNguyen-hd7ws 21 годину тому

    Greed is just a matter of time

  • @C0lon0
    @C0lon0 21 годину тому

    I know a lot of people here in Brazil that have an argentinian bank account for a credit card to just pay half or a third of the price of the same subscription here in Brazil, people in Uruguay do the same because here in Brazil or in Argentina it is cheaper.

  • @Leymortin
    @Leymortin 21 годину тому

    really interesting video. very cool, kanye

  • @dROUDebateMeCowards
    @dROUDebateMeCowards 23 години тому

    They maintained their retail scavenger hunt strategy during COVID. Let’s keep in mind that that almost certainly killed customers and employees.

    • @marshalltille7770
      @marshalltille7770 16 годин тому

      How? Start with the customer’s.

    • @domfazool8326
      @domfazool8326 15 годин тому

      No it didn’t, whoever died were already on their way. Old, sick, getting sick, weakened immune system. You know anyone healthy that died besides your uncle’s friend’s great grandpa directly from Covid? I doubt it.

  • @DieselDucy
    @DieselDucy День тому

    MUCH respect for this company!

  • @taylorstewart5201
    @taylorstewart5201 День тому

    Would have tried to talk to a Costco employee. There is nationwide dissent growing from within Costco and it is not the employee focused company it used to be.

    • @EstablishedContext
      @EstablishedContext День тому

      Totally fair, I didn't see much dissent in my research but I appreciate the feedback and would like to incorporate more viewpoints in the future. Obviously every company has some degree of problems and not every single employee will be happy.

    • @ignacymoscicki3834
      @ignacymoscicki3834 13 годин тому

      I have to agree with that statement, they need to focus on the staff

    • @Matanumi
      @Matanumi Годину тому

      As it would be with every corporation

  • @braxtonmckee8881
    @braxtonmckee8881 День тому

    Great content!!

  • @DillonJohnson216
    @DillonJohnson216 День тому

    Superb video bro, keep at it you will do great. Costco customers are like crack addicts, its my Dads crack