#2: Costco goes international, slowly

The overall market for wholesale clubs and superstores has been one of the fastest growing ones in the US retail market over the last 25 years. Costco has been the brightest star out of the big warehouse clubs growing faster than the market. Costco growth has been especially fast over the last 10 years.

Sales indices of Costco, Sam’s Club and the overall market

Like all big retailers, Costco also operates in many countries. Costco has been the less active of the big retailers, to go abroad. It currently operates warehouses in 12 countries.

However, US represents 72% of Costco revenues and slightly less in Operating profits (63,5%). The share of International markets has increased significantly over the last 20+ years. It still remains lower than for the main peers Amazon (67%) & Walmart (68,7%).

The share of the international markets will probably grow over the coming years as the new warehouses get running full speed.

Costco is also opening up new markets, such as Sweden in the fall of 2022.