Costco really seems to be the GOAT

I’ve been using Costco since the Samsung Price Club days. Back when I lived in the US, I used to help out at a relative’s deli and ended up stopping by there almost 5 days a week.

Back then, there were so many unique US products, and I loved how the price-to-quality ratio was so clear. After getting married, I kept using it, but about 2 years ago I canceled my membership and replaced it with Coupang.

Rocket Delivery was definitely convenient, but I realized it wasn't a necessity for our lifestyle. More importantly, Coupang’s PB (Private Brand) just couldn’t reach the level of Kirkland. Despite the aggressive discounts, ads, and easy returns, there were almost no products that I felt like buying again.

The final straw was a small experience. A bulk pack of pickled radish I always buy from Coupang’s PB was unusually salty one day. Since it was already open, I asked Coupang why it was so salty, and they told me to contact the manufacturer directly. The factory was actually surprised and explained that salt could clump in certain sections during the brining process, promising it wouldn't happen again. Coupang, on the other hand, just told me to return it without any follow-up and told me to just throw it away because it was hard to collect. Since then, I’ve stopped using Rocket Fresh and Coupang PB food entirely.

I still remember what my relative told me in the US: Costco isn't a company that makes money selling goods; they make money from memberships, and their goal is to secure more members.

Later, after getting a job in Korea, I saw the volumes we supplied to them. They always had Costco-exclusive bundles or high-volume SKUs. When I asked the mart manager, they said Costco’s payments are clean, they don't demand promotions or staff dispatch—they just want lower supply prices and bulk configurations you can't find elsewhere.

Working at a US company years later, my perception of Costco as a business partner became even clearer. Among major US retailers, Costco isn't seen as just a competitor; being stocked there is like a stamp of approval for quality. I first heard the saying, 'Walmart is a no, but Costco is a yes,' back then.

There was a time when people said 'Entering Costco lowers brand value,' but in reality, it was the opposite. Even brands that were sensitive about Amazon or drugstores often made an exception for Costco. It was impressive that they were seen not as a retailer that slashes prices, but one that validates the brand.

I know Costco limits their margins to around 14-15% and intentionally reduces the number of items to focus on quality control. Prices are reflected honestly based on the batch purchased, and this structure hasn't wavered for decades. They prioritize maintaining membership trust over short-term revenue maximization.

Since re-joining earlier this year, I visit about 2-3 times a month, and my Coupang usage has naturally disappeared. I started with the idea of living without Coupang for a month, and it wasn't a big deal. Yesterday, my wife and I decided to just cancel Coupang.

Costco is an offline-centric company, and this is just my limited evaluation as a consumer and former partner. Still, it’s rare to find a company that has maintained the same policy for so long, building trust like an asset.

Coupang is expanding in countries without Amazon, but I don’t think the internal structural issues will just go away when the environment changes. They’re fast at adopting strategies from other successful companies, but I doubt they’ve internalized them as a long-term philosophy or culture. It feels more like a structure prioritizing efficiency and speed over trust-based accumulation.

If a company loses trust in a society over time, it might grow elsewhere, but it's hard to last for decades. Personally, I hope a retailer like Costco, designed around trust and win-win growth rather than short-term profit, appears in Korea too. However, that model isn't made by 1-2 years of strategy; it’s the result of consistent policies from the start, likely possible because they had a stable base in the US. In that sense, it’ll be a tough road in Korea, but I hope it happens someday.