Costco (Audio)

In this episode of Acquired, Ben Gilbert and David Rosenthal delve into the history, facts, and business strategies of Costco, starting with its origins in Sol Price's FedMart and Price Club. They explore Costco's unique business model, emphasizing its focus on providing extreme value, high-quality products, and the lowest possible prices, which has earned it a loyal customer base and the admiration of figures like Charlie Munger. The discussion covers Costco's key innovations, such as its membership model, limited SKU count, Kirkland Signature brand, and efficient supply chain management, highlighting how these elements contribute to its financial success and competitive advantage. The hosts also touch on Costco's culture, ethical values, and its approach to e-commerce, ultimately painting a picture of a durable and well-managed company with a strong commitment to its customers and employees.