As the country grapples with a cost of living crisis, people are looking at ways how they can make their money go further. Costco is a membership-only retail store that is considered to be a place where people can make savings.
However, a personal finance expert from Vouchers.co.uk is urging Brits to think long and hard about whether a Costco membership - costing £33.60 - is for them. According to Andrea Knowles from the discount and money-saving website, there some ways a Costco membership won't save you money.
Here are three reasons why Costco may not save you money and why you may need to rethink your Costco membership.
Read more: Tesco under fire for burger advert with 'misleading' claims
Costco may not save smaller households money
Couples or smaller families may not benefit from a Costco membership. If you are part of a smaller household, bulk-buying fresh or perishable food may not be the best option.
Whilst buying larger packs of produce, such as strawberries or tomatoes, may seem cheaper when compared to a smaller pack, if you don’t eat them before the expiry date, they’ll only end up in the bin – costing you more money in the long-run. Frozen food needs to be refrigerated immediately too, which means if you have limited freezer space, you could end up wasting money.
Costco may not save you money because of petrol prices
The rising cost of fuel is exacerbating the cost of living crisis. Costco memberships cost £33.60 a year for individual membership so if you’re having to travel further to get there than you would for a closer discount supermarket, then a Costco membership may not be worth it.
When deciding whether to get a Costco membership, think about how often you would visit and the extra cost of petrol. If you plan on visiting bi-monthly or less or must travel for an additional 30 minutes there and back, getting a membership may not be worth it.
Costco offers a limited range
Whilst it feels like Costco sells everything you could imagine - from birthday cakes to TVs, gyozas to BBQs – there is a problem with stocking such a broad range of products. As there’s only so much space in a shop, Costco doesn’t tend to stock various versions of a product.
This means you don’t get the same number of options that you would if you were to shop at a normal supermarket. So, whilst you may feel that you’re getting a good deal, you’re not to know if it’s the best deal, as it's often the only deal.
