BJ’s Wholesale follows Costco with membership change for first time in seven years as shoppers fume it will ‘backfire’

BJ’s Wholesale Club has stated that it will adopt a similar strategy to rivals like Costco.

Members are irritated by the upcoming change since it will cost them more money to purchase at the warehouse retailer.

BJ’s said Thursday that it would be raising the cost of annual memberships.

The more premium Club+ membership will increase by $10, from $110 to $120, while those with the basic Club Card plan will see a five-dollar hike, from $55 to $65.

January 1, 2025, will mark the start of the new membership rates.

The brand would only be able to “invest in an even stronger value proposition for its 7.5 million member base, which continues to grow,” according to the release, the BJ’s stressed.

Nevertheless, it’s evident that the warehouse store makes a sizable profit from membership fees.

According to CBS News, it earned about $115 million a year in 2023, an increase of 8.4% from the year before.

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January 1st will see BJ’s first raise in seven years, since 2018.

Nonetheless, it is in line with Sam’s Club and Costco.

Sam’s Club raised the price of its basic Club memberships from $45 to $55 and its Plus memberships from $100 to $110 each year.

More recently, in September, Costco stated that its basic Gold Star plan will increase from $60 to $65 and its Executive plan would increase from $120 to $130.

The basic items consistently get a $5 hike, while the premium offerings see a $10 bump.

Consumer resentment at having to pay more for their memberships in the face of inflation and cost-of-living increases is another recurring trend.

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The announcement made on Thursday was not taken lightly by certain BJ members.

“This might really go wrong. Regarding the price hike on Aposton Facebook, a customer stated, “Many will reconsider that expenditure.”

“Comparison of prices doesn’t show real savings on most things anymore.”

“They certainly did. Another raged, “Let’s just triple that on the backs of consumers instead of being content with the millions of profits they already make.”

A third person said, “It wasn’t worth it, now it is even more not worth it,”

Others threatened to switch to other brands and even cancel their membership.

Another person wrote, “We probably will not be renewing our membership,”

The warehouse retailer is having its yearly Black Friday bargains with $1,500 off about 77-inch Smart TVs while the price hike takes effect for customers.

For about $150, it’s also growing the yearly “turkey tradition” that occurs over Thanksgiving.

In honor of the national holiday, BJ’s and Costco will be closed all day on Thanksgiving.