Costco has seen strong sales of gold and PAMP silver bars, with estimates of around $200 million in gold and silver per month. These high-value items are a key driver of e-commerce growth for the company, despite their low markup. Gold bars and silver coins were top sellers online for Costco in the last quarter, although sales figures were not disclosed. The company mentioned that these items were popular alongside other categories such as appliances, gift cards, and e-tickets.
Analysts believe that Costco’s gold and silver sales generate around $200 million per month. These items are priced at a low markup compared to the metal’s spot price, which makes them attractive to customers looking for value. While the profit margin on gold and silver sales is relatively low for Costco, they serve as a lucrative strategy for the wholesale club’s e-commerce business. By selling member-exclusive high-value items like gold and silver, Costco has seen a 20.7% increase in digital sales compared to the previous year.
The popularity of gold and silver sales at Costco is another way to attract new members. The exclusive availability of these metals can be enticing to anyone looking to save money on their purchases, especially when they see the potential savings compared to the cost of membership. This strategy has been successful for Costco, as it helps drive growth in their e-commerce business with minimal risk or capital investment.