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Costco TURBO Report by databahn

Last updated: H1 2020

Costco Wholesale Corporation
999 Lake Drive
Issaquah, WA 98027
United States
Phone: (425)-313-8100
Website: http://www.costco.com
Sector: Consumer Defensive
Industry: Discount Stores
Full Time Employees: 143,000

The Costco Wholesale databahn TURBO Report was researched and developed with the IT sales executive and the IT marketer in mind. Our goal is simple; eliminate the costly research time and help you identify new sales revenue opportunities.

Top 10 reasons to buy the Costco Wholesale databahn TURBO company profile report:

1. Create a better and more informed RFP Response proposal
2. Brief your C-level executives before a sales call
3. Eliminate the time it takes to build a strategic account plan
4. Develop more effective account based marketing (ABM) programs
5. Discover sales opportunities you're not aware of
6. Understand the competitive landscape in the account
7. Ramp up new sales reps faster in new accounts
8. Need accurate contact information & org charts
9. Insights into IT projects & initiatives
10. Expand footprint in existing large enterprise accounts

Some of the insights & detailed information you can expect to see in the Costco Wholesale databahn TURBO Report:

• Comprehensive Business Description
• Latest Earnings Call Highlights from the CEO
• Accurate Contacts for the Executive Leadership Team and Board of Directors
• Detailed Org Charts on corporate structure, board of directors, and the executive leadership team
• Hand curated content from selected articles, interviews, case studies, and success stories (representing dozens of hours of research)
• Technology Executive Insights to existing IT & telecom systems, projects, initiatives, and internal code names for applications, systems, and IT business units
• Insights gleaned from technology related job descriptions
• Important excerpts and highlights from the Annual Report (10-K)

Available for download now!

COSTCO WHOLESALE EXECUTIVE LEADERSHIP

COSTCO WHOLESALE BOARD OF DIRECTORS

7 KEYS TO OPEN DOORS AT COSTCO

Paul Moulton's (Executive VP & CIO, Costco) 2 Key Tech Questions

• Mr. Moulton stated that he preferred vendors that are not too technical and that he likes to see a PowerPoint presentation that uses business terms.
• If the presentation is in all technical terms Mr. Moulton immediately thinks the presenter is a gear head and wants to end the meeting quickly because “… he just makes me feel stupid.”
• His two key tech questions are:
• 1. Can we use what we have to accomplish the new technology plan?
• 2. Can we buy or do we need to build?

Costco is investing heavily in infrastructure

• Costco improved the back end of its digital operation while also making its website more user-friendly and spending heavily on improving its shipping logistics.
• That investment paid off strongly as the company reported a 43.5% gain in comparable e-commerce sales in Q1 2018.

Costco Bakes Machine Learning into a Tasty Customer Experience

• Costco’s Jeff Lyons, SVP and Head of Fresh Foods, outlined the need for a strategy to modernize its bakery department using machine learning to increase productivity while reducing waste.
• Working with the SAP Leonardo team on a prototype study, the resulting project helped Costco save nearly $100 million dollars across the 30 pilot stores that have adopted the new strategy.

Costco Applies IoT For Water Savings

• Costco was one of the earliest adopters of Semtech’s IoT as a water management system, and they’ve seen some pretty incredible results.
• Not only did they have access to a minute-by-minute report on the water usage at their various locations, but, using this new LoRa technology, they were able to drastically decrease their water waste.
• Since implementing the system, they’ve reported a 20% reduction in water waste along with a 22% savings in water bills.

Costco has been doubling down on e-commerce efforts by offering same-day delivery

• Costco reported membership renewal rates were a steady 90.7% in the U.S. and Canada.
• Member households were up 400,000 since its last quarter, resulting in 53.1 million member households.
• Total cardholders grew to 97.2 million.

As brick-and-mortar retail is crumbling at the feet of e-commerce, Costco has experienced steady growth.

• Costco's end goal is to cut the “fat” out of traditional retail and pass on the savings to loyal customers and employees.

Costco Raises Minimum Wage to $15 an Hour

• Executives at Costco announced the increase, from $14 an hour, for U.S. and Canadian workers.
• The announcement came after the company reported higher than anticipated second quarter financial earnings. Net sales for the quarter increased 7.3 percent to $34.63 billion, earning $889 million in net income.
• Richard Galanti, Costco's CFO, said that the company will also increase wages for supervisors and has implemented paid parental leave for hourly workers.