Happy Birthday Costco (founded 45 years ago today). In an age of retail billionaires flinging their fortunes into space, it’s refreshing to see a thriving enterprise whose success is grounded on embracing what should be the death knell of any ordinary business:

  • Its membership fee should make acquiring new customers fatally difficult. Instead, it creates loyal deep pocketed patrons who praise the company for its free samples, generous return policy, and of course, low prices. Its cost-saving warehouse layout should confuse and annoy shoppers. Instead, it makes them feel like deal hunters.”
  • In an era of overvalued start-ups, reckless desire for growth, and questionable business practices, Costco is something else entirely – refreshingly boring.”
  • “That’s the genius of Costco. It turns nearly every seeming obstacle into a competitive advantage.”