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Why Costco is selling precious metals
The move is part of the company’s "treasure-hunt" strategy.
Kieran Ryan
October 04, 2024
In partnership with
TODAY’S STORY
Costco’s move to sell precious metals, the latest being 1 oz. platinum bars, is an attempt to reinforce the treasure-hunt aspect of its stores.
The well-documented strategy attempts to draw consumers in by continuously introducing new, unexpected products and intentionally running out of them from time to time.
It seems to work —
Costco shoppers swarm stores for a chance to buy the latest precious metal, not knowing whether it will be there next time
Costco makes a pretty penny; they now sell $200 million worth of precious metals monthly
Those shoppers then spend money on other products, too
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Kieran & Justin Ryan
