Costco changes slowly. The warehouse club rarely innovates because it doesn't need to. Its members don't pay for cutting-edge tech.
Grab-and-go technology, inventory robots, and other frills aren't needed by company customers. They want reasonable prices from a company that prioritizes value.
Costco has held committed to its mission during a period of financial uncertainty. To maintain member value, it made drastic actions including managing its own shipping fleet.
Warehouse club buying is still simple. Costco has minimal online offerings but offers same-day delivery through Instacart, unlike Target, Walmart, and Amazon, which have invested billions in digital order fulfillment.
That's a great way for Costco to offer same-day service without spending any money. Another illustration of the chain's careful, member-focused strategy.
Longtime Costco CEO Craig Jelinek resigned on New Year's Day. He was replaced by President and COO Ron Vachris. Company officials have planned this for some time.
Craig and Ron have collaborated for twenty-one months as president and for years before that. Craig's long-term succession strategy with the board has culminated.
Vachris has 40 years of Costco experience. He began as a "forklift driver, and subsequently serving in every major role related to Costco's business operations and merchandising activities.