The price of a BJ’s Wholesale Membership membership will get pricier in January.
The corporate plans to lift its customary membership for its warehouse shops to $60 per 12 months and its premium Membership+ membership to $120 starting Jan. 1, BJ’s Wholesale mentioned Thursday.
These hikes — the primary in seven years — signify will increase of $5 and $10, respectively, from the memberships’ present costs.
“Since the last membership fee increase, the Company has transformed its business with a relentless focus on delivering value to members,” BJ’s Wholesale mentioned, including that it’s going to allow the retailer to “invest in an even stronger value proposition” for membership cardholders.
The transfer additionally follows that of competitor Costco, which carried out its personal improve in September.
BJ’s Wholesale mentioned its membership rely stood at 7.5 million on the finish of the third quarter.
Its membership charges have introduced BJ’s Wholesale practically $339.49 million over the primary three quarters of the 12 months, together with $114.98 million within the third-quarter.
Membership charge revenue made up 2.1% of the $14.61 billion in whole revenues that BJ’s Wholesale reported for the third-quarter.
The corporate’s web gross sales, which clocked in at $14.3 billion, accounted for the overwhelming majority.
The pricier Membership+ membership comes with further perks in comparison with the usual membership, together with issues like cashback rewards and gas reductions.
BJ’s Wholesale mentioned two free same-day deliveries on eligible orders of no less than $50 per membership interval will grow to be out there to Membership+ members in January.
