Costco seemed disproportionately negatively impacted by traffic pressures during the COVID crisis compared to some other retailers. However, as stay-at-home orders and self-implemented traffic restrictions have been lifted, and as Costco has ramped back up promotional offers (including more TPDs and the return of the print version of the MVM), traffic looks to be recovering with US comp store sales (ex-gas) up 9.2% in May and up 13.6% in June, one of the highest monthly domestic comps ever reported. We believe Costco likely wins share at an accelerated pace over the medium term assuming a prolonged period of economic/consumer pressure into 2H20 and beyond.
In advance of Costco’s Supplier Day, CRC will host a Costco Forum virtually with sessions available live on Monday, September 14 and Tuesday, September 15 and prerecorded after, to review the company’s recent performance metrics, key challenges and opportunities facing suppliers, and provide some action items to implement on your team.
Unfortunately due to COVID-19 we are not able to host this event in person in Bellevue this year, but what you’ll miss in networking will be gained in live Q&A with CRC analysts and unlimited seats to this year’s forum. We hope your entire club team can join us.
Co-Founder, Elevate Partners
Mark has spent the last 25+ years successfully selling to Costco. He has established relationships in all regions and levels of the company and experience in all aspects of the selling process: from sales planning and execution, to customer interface, to mentoring sales leaders.
In 2019, he cofounded Elevate Partners, a Seattle firm specializing in consumer packaged goods to bring about positive change to the industry.
Mark holds a Bachelor’s Degree in Business and Corporate Communications from California State University, Northbridge.
Executive Director, Traditional Retail Council, Cleveland Research Company
Jackie joined Cleveland Research in 2010, and serves as the Executive Director of the Traditional Retail Council dedicated to writing research and hosting events for suppliers and manufacturers to help optimize their business in the mass, club, grocery, dollar, discount, drug, and specialty retail channels.
Prior to her current role, Jackie was an equity research analyst covering the food retail and foodservice industries. She also worked as Data and Media Manager for a full-service B2B marketing agency in Chicago, overseeing all media and data-related purchases internally and for the firm’s clients.
Jackie holds a Bachelor’s Degree in Business Administration from the University of Notre Dame.
Senior Research Analyst, Cleveland Research Company
Scott is a Senior Analyst and Partner at Cleveland Research Company covering the grocery, mass, club and dollar channels in addition to Amazon. Scott also plays a role in the Market Research business, helping with the Firm’s Traditional Retail Council product and presentations. Prior to joining CRC, Scott was a Research Associate at FTN Midwest Securities.
Scott received a B.S. in economics from John Carroll University.
Market Research Associate, Cleveland Research Company
Ben is a Market Research Associate at Cleveland Research Company. He is focused on gathering insights and expanding CRC’s coverage in the retail industry to find valuable inflections and trends for grocery, mass, club, dollar, and eCommerce channels. Ben was a former intern on CRC’s Consumer Team before joining the firm full-time in 2018. Ben holds two Bachelor’s Degrees in Finance and Economics and graduated Summa Cum Laude from Miami University.