We all know those people who are completely obsessed with Costco. Maybe you’re one of them! It’s hard to not love the superstore; they have everything you need, and it’s really convenient to buy in bulk so you’re not constantly returning to the store. With their amazing warehouse stocked full of goodies, daily savings, and yummy snacks, it’s pretty hard to beat shopping at Costco. Now, though, we’ve found another reason to commit to Costco. According to a recent price check conducted by JPMorgan, it appears that Costco’s prices are cheaper than Whole Foods…a lot cheaper.
The study, which was performed on Friday, October 13th, found that Costco’s products are 58 percent cheaper than the products at Whole Foods!
JPMorgan price checked items such as perishable groceries, dry goods, and household items from Target, Aldi, Costco, Whole Foods, and Walmart.
Costco offered the lowest prices compared to every store.
“[Costco] offers an unquestioned value prop with the best pricing, curated assortment, strong private label offering, and treasure hunt atmosphere,” said JPMorgan analyst Christopher Horvers.
This may come as a surprise to some, as Amazon announced much lower prices for the grocery chain after taking over just a few months ago.
While Costco and Whole Foods have the least amount of products in common, their prices are seriously lower. If you’ve been contemplating a Costco membership, maybe this price check will confirm your decision!
“It is clear that [Whole Foods’] pricing would need to narrow substantially to be a threat to COST, while the Whole Foods business model would need to shift away from its ‘foodie, organic, and natural’ value prop,” Horvers continued.
Costco remains the United States’ largest retailer, with Walmart still in first, and Kroger in second.
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