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Costco flags an unexpected shift in customer behavior

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Costco (COST) appears to go viral on social media every week. Whether it's because of its popular food court items, eye-catching deals, or "apocalypse" emergency food buckets, the increased social momentum surrounding Costco is translating into a boost in profits and sales.
The article from MSN discusses an unexpected shift in customer behavior at Costco, where there has been a noticeable increase in the use of cash for transactions. This trend, dubbed "Bankostco," reflects customers using Costco not just for shopping but also as a makeshift bank. This shift is attributed to several factors including economic uncertainty, a desire for privacy, and the convenience of withdrawing cash while shopping. Costco has observed that members are increasingly using their cash-back rewards or simply withdrawing cash at checkout, which has led to longer lines and operational adjustments. This behavior indicates a broader trend where consumers are reverting to cash amid economic fluctuations, possibly as a strategy to manage finances more tangibly or to avoid digital tracking.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/bankostco-flags-an-unexpected-shift-in-customer-behavior/ar-AA1vRtDD ]