It is no secret that baby boomers love Costco. Living on a fixed income is challenging and quickly teaches seniors where to go for the best deals. After walking out of that corporate door one last time with your last paycheck and your proverbial gold watch in hand, it becomes clear that shopping for bargains is a big part of your new life as a retiree.
Below are five reasons Costco is a senior magnet.
1. Costco offers great deals and an excellent selection on healthcare items that seniors need.
The type of items that excite boomers today is certainly different than those we purchased back in the 80s and 90s. Costco caters to seniors by offering wild savings on expensive health-related items such as hearing aids, eyeglasses, blood pressure monitors and automatic defibrillators.
The savings on eyeglasses alone is enough to get your attention. A survey of 91,000 Costco shoppers found that the average price paid for eyeglasses at Costco was $184, which was less than half the price paid at other retailers. The good news just keeps coming in this eyewear department with contact lenses also priced lower than competitors.
While you’re in the store, you can get a free hearing test. There is also free cleaning offered for the hearing aid you already have. Unfortunately, boomers know full well that their hearing isn’t what it once was before they attended all those great concerts in the 60s, 70s and 80s.
2. Pharmacy deals offer ongoing savings to cost conscious boomers.
When Tom Cruise coined the phrase, “Show me the money,” in the movie Jerry Maguire, he could have been talking to Costco executives about their drug prices. In a spark of genius, the wholesaler slashed labor costs by 50% by filling prescriptions in off-site locations, then delivering them to the retail stores nightly. This savings allows Costco the ability to undercut its competitors such as Target, Walmart, Sam’s Club and grocery store chains on popular generic medications.
Like food, prescriptions are sacred to boomers who need them to survive. Costco made some real points with seniors by saving them money on scripts that they are forced to pay for monthly.
3. Costco offers excellent prices on toys for the grandkids.
Shopping for the grandchildren can be expensive if you don’t know where to go for the best deals. Once again, Costco saves the day with bargains. There are birthdays, graduations, religious holidays and a million different reasons to buy gifts for the kids in your life.
Delivering the goods on a fixed income for the many children in your life can be challenging unless you make an effort to watch for deals. The popular consensus among bloggers who chatter about the best prices seems to agree that Costco beats Amazon in the toy department.
So, when it is time to stock up for batteries for all those toys you buy or you need that special bike that your grandson or granddaughter has their eye on, Costco is the place to beat.
4. Seniors with limited mobility or who want to avoid Covid-19 exposure will find a superior shopping experience online.
Why waste precious hours in a store when you can simply shop online. There is a lot of good news associated with online shopping at this warehouse giant. There are many selections offered online that aren’t offered in the stores. The items vary by region based on purchasing behavior for that locale.
Many of the inventory items available for purchase online cater to boomers. For example, casket purchases are now sold online as the result of the Federal Trade Commission’s new rules. There are also other products such as urns, wheelchairs, canes, and mobility ramps.
5. Costco offers free samples to munch on as you shop.
Who doesn’t like free food? It’s amazing how many tasty little nuggets I’ve tried in the store as a sample, only to decide to buy them. What better way is there to kill two birds with one stone. Not only do you get to nibble on some tasty treats, but you also get to try some new food items out that you can add to your home menus. It’s hard to argue with a Win/Win situation like that.
Takeaway
Costco has earned the love and respect of baby boomers everywhere. Where else can you buy a hearing aid, tasty food, prescriptions and all the toilet paper you’ll ever need during the pandemic at the lowest prices? By catering to boomers on a fixed budget and offering them the many products they need in a one-stop-shopping warehouse, it is clear that this wholesale giant has the winning formula to corner the baby boomer market.