For many consumers who like to buy cheese, toilet paper, and clothing in bulk, Costco is essential. The big box chain is a success today, but when it launched nearly 40 years ago, selling wholesale goods to the public was still a new concept. If you need help imagining a world where Costco wasn't a household name, check the video below from Business Insider.
In this segment, Business Insider covers the history of Costco, starting with its humble beginnings to its current position as an industry leader. The video also features photos of the very first Costco location in Seattle. When Costco first opened in 1983, an annual club membership cost just $20. Adjusted for inflation, that's roughly equivalent to today's membership price of $60 a year. By the end of 1984, Costco had sold 200,000 memberships.
Costco's success isn't limited to its bulk groceries and toiletries. The store's cafeterias are hugely popular, and depending on how you define a pizza franchise, Costco ranks among the top 20 biggest pizza chains in the country. Costco is even a major player in the fashion industry, selling more clothes than Old Navy.
Even with its cheap offerings, Costco has managed to become a $1 billion company. Here are some more surprising facts about the beloved chain.
[h/t Business Insider]