I mean they've completely underinvested in technology and new experiences. The in-store experience and the website feel like they haven't changed in 20 years. Maybe that is part of the Costco charm, but the "if it ain't broke don't fix it" attitude is going to haunt them if they don't change.
Lots of headwinds in the next decade or so: younger consumers aren't driving as much (i.e. to big box stores with giant parking lots in the middle of suburbia), they are moving from suburban to urban centers, they're having fewer kids, buying anything online including perishables has become easy, etc etc.
Lots of headwinds in the next decade or so: younger consumers aren't driving as much (i.e. to big box stores with giant parking lots in the middle of suburbia), they are moving from suburban to urban centers, they're having fewer kids, buying anything online including perishables has become easy, etc etc.