# Who are Costco Wholesale's customers? Who does Costco Wholesale earn revenue from?
Canonical: https://valuechain.wiki/costco · Facet: customers · Updated: 2026-09-23T09:58:34.239738+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Costco Wholesale discloses no named confirmed revenue counterparties; 2 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 2 revenue edges, backed by 3 dated sources, 1 of them primary filings (as of 2026-09-23).

### 개인·비즈니스 유료회원 (멤버십 수수료) (high)
- metric: Market share 92.2% · FY2026 3분기 · US and Canada membership renewal rate
- note: Costco's profit core is annual membership fees, not merchandise margin: about $1.37bn per quarter at a 92.2% US and Canada renewal rate, a defensive recurring revenue. It raised the US fee from $60 to $65 in September 2024.
- [confirms] Longyield (EN, news, published 2026-05-29) https://longyield.substack.com/p/costco-the-70b-quarter-922-renewal: "Membership fee income was $1.373bn in the 12-week quarter, with 82.9 million paid members and renewal of 92.2% in US and Canada, 89.7% worldwide."
- [confirms] SEC EDGAR (EN, filing, published 2025-10-08) https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm
- [confirms] Hankyung (KO, news, published 2025-02-03) https://www.hankyung.com/article/2025020303131: "The US raised the base annual fee from $60 to $65 and Executive from $120 to $130 in September 2024, its first hike in seven years; Korea raises fees up to 15.2% in May 2025, with churn limited as inflation drew shoppers in."

### 소비자 (창고형 상품 판매) (high)
- metric: Amount 69.15 USD10억 · FY2026 3분기 · net sales
- note: Net sales come from merchandise in warehouses, kept at thin margins to draw members, across United States, Canada and Other International segments. Q3 FY26 net sales were $69.15bn.
- [confirms] Longyield (EN, news, published 2026-05-29) https://longyield.substack.com/p/costco-the-70b-quarter-922-renewal: "Q3 net sales were $69.15bn (+11.6% YoY) and total revenue including membership $70.53bn; adjusted comps were US +6.8%, Canada +6.2%, Other International +5.9%."

Reverse side: https://valuechain.wiki/costco/suppliers.md · Ripple: https://valuechain.wiki/costco/ripple.md

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Full node: https://valuechain.wiki/costco.md · JSON: https://valuechain.wiki/costco.json