The retail giant currently pays a minimum wage of $15 per hour, which has enabled them to hire a highly-skilled workforce. High Paying Retail Jobs: Costco has built a happy workforce and a loyal employee base by paying the highest salary and benefit amongst its competitors. Costco’s strategy is to maintain a good perception of its products and services, which has ensured brand loyalty. Quality is achieved through direct bargain and purchase from manufacturers. High-Quality Products: One of Costco’s philosophy is to provide its members with the highest quality products at the most competitive prices. It enables the organization to be less reliant on making huge profit margins in sales, thereby allowing its customers to have better savings on purchase. Pass savings to customers: Costco maintains a competitive edge by keeping the operational cost as low as possible. In an interview, Jim Sinegal, Cofounder, and former CEO, says that “ Advertising is Evil because it cost huge sums of money, which would lead to higher prices of the merchandise and that’s bad for the company and our customers.” In comparison, Walmart spent $2.9 Billion, and Target spent $1.4 Billion on advertisement in 2018.
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