Costco Tests New Entrance Scanners to Ensure Only Valid Members Gain Access, Coinciding With First Price Hike in Seven Years

Transcript

00:00It's Benzinga, and here's what's on the block.

00:02Costco is implementing nationwide membership scanners at club entrances, requiring members

00:07to scan their cards upon entry.

00:09This measure aims to convert non-members into paying members and will coincide with the

00:13first membership price hike in seven years.

00:16Costco is testing new scanners at select locations to ensure that only valid members enter their

00:21clubs.

00:22Members will need to scan their physical or digital membership cards upon entry.

00:26Guests must be accompanied by a member.

00:28This initiative aims to convert non-paying visitors into paying members, similar to Netflix's

00:33approach to password sharing.

00:34For all things money, visit Benzinga.com.