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I know this doesn't fit the European worldview, but if only they had Costco. They make 0-1% margin [0] on their groceries - which by the way is very high in qu
by FredPret 4y ago
I know this doesn't fit the European worldview, but if only they had Costco.
They make 0-1% margin [0] on their groceries - which by the way is very high in quality.
Essentially all their profit is from their annual membership fee.
You have to buy massive quantities of everything though. This works well if you live in a huge North American house and have an SUV to transport your month's (year's?) groceries.
[0] I saw a newsletter from Ryan Reeves and confirmed it by checking their financial statements
- pjc50 4y agoWe do have costco. That doesn't make any difference. https://www.costco.co.uk/ https://www.costco.co.uk/ (Practically, Aldi/Lidl are where one goes for cheap UK groceries, or Farmfoods if you want frozen/nonperishables)
- ocodia 4y agoWe have Costco in the UK.
- FredPret 4y agoPerhaps but it doesn’t seem like the default option to the same extent. The model doesn’t fit Europe as well for the reasons I mentioned. It wasn’t meant as a snide remark, only an observation about buying cheap food
- jdcarr 4y agoThere are about 30 Costcos in the UK. You’re right that they aren’t particularly useful for weekly grocery shopping unless you have a car and a large fridge.
- deleted 4y ago[deleted]