Popular wholesale store hikes membership fees for first time in 7 years
BJ’s Wholesale Club is increasing its membership fees for the first time since 2018.
The department store chain confirmed in a press release that the price increase would take effect from January 1, 2025.
The company, a rival to Costco and Sam’s Club, revealed that the basic plan would increase by $5.
After the price increase, BJ’s Wholesale Store’s basic subscription would be $60 per year.
The price of the Club+ subscription will increase by $10, bringing it up to $120 per year.
The price increase announcement comes two months after Costco increased its membership fees.
The BJ’s Wholesale Club price increase will be implemented before the chain plans to open 20 new locations by the end of 2025.
The company explained that higher prices “allow the company to invest in an even stronger value proposition.”
BJ’s Wholesale Club announced it would increase its membership fees for the first time since 2018
The company has also reached 7.5 million annual members, and that number is still growing, the department store chain said.
BJ’s Wholesale Club Basic Plan members enjoy benefits including 25 percent off grocery store prices, same-day delivery and shipping options, free curbside pickup and low prices at BJ’s Gas.
Basic subscription holders can also add three additional memberships each year for $30.
Club+ members have the same benefits as basic subscription members, and more.
All Club+ membership holders can get 2 percent back as a reward on most purchases, 5 cents off per gallon at BJ’s Gas, and two to three times more rewards during special events.
Club+ members can also earn rewards that never expire.
Shoppers wishing to purchase a membership at current prices can do so now in-store or on the BJ’s Wholesale Club website.
In addition to the membership fee increases, BJ’s Wholesale Club announced fiscal third-quarter 2024 results.
All BJ’s Wholesale Club members with a basic and Club+ membership receive a 25 percent discount on supermarket prices
The department store chain earned $115 million in membership revenue in the third quarter of this year – an increase of 8.4 percent.
“Our third quarter results demonstrate the combination of great value and strong execution. We have achieved robust membership growth and reached a milestone of 7.5 million members,” said Bob Eddy, Chairman and Chief Executive Officer of BJ’s Wholesale Club, in a press release.
‘Our value proposition continues to resonate in new and existing markets.’
Shares of BJ’s Wholesale Club rose quickly after the company announced its results.
The department store chain also opened three new stores and four new gas stations in the third quarter of 2024.
Members of the BJ’s Wholesale Club basic plan get benefits like 25 percent off grocery store prices
Costco also increased its membership fees in September.
The department store chain’s standard membership increased by $5 per year, from $60 to $65.
The Executive tier — which offers a 2 percent discount on all Costco purchases made that year up to a total of $750 — increased by $10 to $130 per year.
The changes, which affect members in the US and Canada, represent the first increase in contributions since June 2017.
Costco said at the time that the increase will reach 52 million memberships, about half of which will be at the highest level.
Many Costco fans had expected a rate increase, as the retailer typically increases rates every six years or sooner.