# Inside Costco: The Shocking Strategy That Built The Most Loyal Customers https://www.youtube.com/watch?v=H6qenMW8GuI Translation: zh-CN [00:00] Welcome to Costco, the world's third largest retailer. 欢迎来到好市多，这家公司是全球第三大零售商。 [00:04] This is the place where you walk in with the intention to stock up on 48 rolls of toilet paper and instead leave with a sixperson inflatable hot tub. 这里就是你原本打算来囤积48卷卫生纸，结果却买了一个六人份充气热水浴缸才离开的地方。 [00:11] They also make 73% of their profit before you even put a single item in your cart. 在你把任何一件商品放进购物车之前，他们就已经赚取了73%的利润。 [00:15] And on the surface, it seems simple. 表面上看，这似乎很简单。 [00:17] Sell in bulk, keep prices low, charge a membership fee. 批量销售，保持低价，收取会员费。 [00:22] But behind the concrete floors and giant tubs of peanut butter is one of the most quietly brilliant retail strategies in the world. 但在混凝土地板和巨大桶装花生酱的背后，隐藏着世界上最巧妙的零售策略之一。 [00:28] A company whose private label outsells entire multinational brands. 这家公司的自有品牌销量超过了整个跨国品牌。 [00:32] And a company who is managed to become beloved by both dads who stock up on industrial-sized everything for their suburban kingdoms and Gen Z's who split bulk groceries with their roommates to save money. 而且这家公司设法赢得了所有人的喜爱，既包括为他们的郊区王国囤积工业规模一切物品的父亲们，也包括为了省钱而与室友分摊大宗食品杂货的Z世代。 [00:43] But how does Costco manage all this success? 但好市多是如何做到这一切成功的呢？ [00:45] Because I figured there's got to be more underneath the surface than the typical things that we know and love about Costco. 因为我猜想，表面之下一定隐藏着比我们通常所了解和喜爱的关于好市多的东西更多的东西。 [00:51] So I dug into it and in this video we're unpacking the whole Costco playbook. 所以我深入研究了一下，在这段视频中，我们将揭示好市多的整个经营策略。 [00:56] how the membership model unlocks something so much bigger. 会员模式是如何解锁更宏大的事物的。 [00:58] Why 为什么 [01:00] Kirkland is more than just a typical private label brand. Kirkland 不仅仅是一个典型的自有品牌。 [01:02] How Costco earns your trust and your impulse buys and whether this warehouse giant can keep its magic in the digital world. Costco 如何赢得您的信任和冲动购买，以及这家仓储巨头能否在数字世界中保持其魔力。 [01:09] Let's discuss. 我们来讨论一下。 [01:12] [Music] [音乐] [01:16] First and foremost, you guys know I'm not here to mess around. 首先，你们知道我不是来这里瞎搞的。 [01:18] For those who have never been, or those who have been but want to vicariously feel the Costco magic, let's start with the store experience. 对于那些从未去过的人，或者那些去过但想间接感受 Costco 魔力的人，让我们从店内体验开始。 [01:23] You enter the massive warehouse style retailer. 您进入这家大型仓储式零售商。 [01:25] You slash your membership card. 您刷您的会员卡。 [01:27] That's right. 没错。 [01:29] I became a member for this video, but also it was just a matter of time. 我为了这个视频才成为会员，但这也是迟早的事。 [01:31] And are greeted by huge carts, warehouse lighting, concrete everywhere, the smell of rotisserie chicken, and Michelin tires. 并受到巨大的购物车、仓库照明、随处可见的混凝土、烤鸡和米其林轮胎的气味迎接。 [01:38] Sounds kind of incredibly weird now that I say it out loud, but it's weirdly comforting. 现在说出来听起来有点难以置信的奇怪，但它又奇怪地令人安慰。 [01:41] Costco has no frills, minimal signage, and pallets stacked to the high heavens with vast amounts of inventory that only forklifts can move around. Costco 没有花哨的东西，标志很少，托盘堆积如山，库存量巨大，只能用叉车搬运。 [01:54] Something you might notice right off the bat is that most things here in Costco are huge. 您可能会立刻注意到的一件事是，Costco 的大多数东西都很大。 [02:00] Selling in bulk and in large quantities are a famous part of Costco's business model, but more on that later. 批量和大量销售是好市多（Costco）商业模式的一个著名组成部分，但稍后会详细介绍。 [02:06] Now, aside from this brutalism chic vibe that Costco has curated, they are also famous for the treasure hunt. 现在，除了好市多精心打造的这种粗野主义时尚氛围之外，他们还以寻宝闻名。 [02:11] They reel you in with essentials at affordable prices, some of which actually lose money for the company and then entice you with all of these other weird interesting things to drive impulse buys. 他们用价格实惠的必需品吸引你，其中一些实际上让公司亏本，然后用所有这些其他奇怪有趣的东西来诱使你冲动购买。 [02:23] The most famous Costco loss leader that gets people in the door, the $150 hot dog and soda combo. 最著名的好市多亏本促销商品，能吸引人们进店的是那1.50美元的热狗和苏打水套餐。 [02:27] This combo has been a $1.50 since the 80s. 这个套餐自80年代以来一直保持1.50美元的价格。 [02:31] And Costco management has made it very clear they are not going to change the price despite increasing prices and inflation for the last 40 years. 好市多管理层已明确表示，尽管过去40年来物价和通货膨胀不断上涨，他们也不会改变价格。 [02:39] And this isn't just a cheap wiener. 这不仅仅是一根便宜的热狗。 [02:40] It's an iconic part of the Costco experience. 它是好市多体验的一个标志性部分。 [02:43] Even as a little kid, I remember coming into Costco with my parents and my brother, shopping, and then finishing with one of these bad boys. 即使在我还是个小孩子的时候，我也记得和我的父母以及哥哥一起来好市多购物，然后以享用其中一个美味的热狗结束。 [02:50] $1.50 every time. 每次都是1.50美元。 [02:50] And it's become a bit of a cultural phenomenon. 它已经成为一种文化现象。 [02:55] So yes, I am literally eating Costco's profits, but it works. 所以是的，我确实是在吃好市多的利润，但这是有效的。 [02:57] It gets people in the door. 它能吸引人们进店。 [02:59] And once you're inside, that's 一旦你进去了，那么 [03:01] where the real treasure hunt begins. 真正的寻宝之旅由此开始。 [03:03] I joke that Costco is the only place where you can buy an industrialsized tub of mayonnaise, a diamond ring, a 6-ft tall teddy bear, and prescription glasses all in one place. 我开玩笑说，好市多是唯一一个你可以一次性买到工业尺寸蛋黄酱、钻戒、6英尺高的泰迪熊和处方眼镜的地方。 [03:12] But the common thread across all of that randomness, they are all good value for the money. 但所有这些随机商品有一个共同点，那就是物有所值。 [03:16] And that's kind of the Costco promise. 这可以说是好市多的承诺。 [03:18] And finally, who are all these shoppers around me that I'm desperately trying to avoid to film this video? 最后，我拼命想避开拍摄这段视频的这些顾客都是谁？ [03:24] Well, the stereotype is that they're soccer moms coming here to buy 48 rolls of toilet paper, which isn't untrue. 嗯，刻板印象是她们是来买48卷卫生纸的足球妈妈，这倒也不假。 [03:29] The average Costco customer is aged 39 to 55, household income over $100,000, married with kids, has a 4-year college degree or higher, and spends $100 or more per trip to Costco. 好市多的平均顾客年龄在39到55岁之间，家庭年收入超过10万美元，已婚有子女，拥有四年制大学学位或更高学历，每次购物花费100美元或更多。 [03:43] However, Costco is actually proving to have some multigenerational appeal, which we'll talk more about later. 然而，好市多实际上正显示出一些跨代吸引力，我们稍后会详细讨论。 [03:49] But one thing that many Costco shoppers have in common is high brand loyalty, especially to Costco's wildly successful private label brand, Kirkland Signature. 但许多好市多顾客的共同点是高度的品牌忠诚度，尤其是对好市多非常成功的自有品牌科克兰签名。 [03:57] So, let's dive into Costco's 那么，让我们深入了解好市多的 [04:02] business model, how they make money through product strategy, and the underrated success of their own private label. 商业模式，他们如何通过产品策略赚钱，以及他们自有自有品牌被低估的成功。 [04:08] For a company that sells superersized everything, Costco makes surprisingly little profit from the stuff that's in your cart. 对于一家销售一切超大号产品的公司来说，好市多从你购物车里的东西中获得的利润却出奇地少。 [04:15] Not so surprising. 这并不奇怪。 [04:16] Retailers that have low costs generally do so by accepting lower profit margins. 低成本的零售商通常通过接受较低的利润率来实现这一点。 [04:21] But when I dug into it further, I found something very interesting. 但当我进一步深入研究时，我发现了一些非常有趣的事情。 [04:23] Costco's public pricing rules say that they will only take a maximum of a 14% markup on name brand products. 好市多的公开定价规则规定，他们对品牌产品的最高加价幅度仅为14%。 [04:31] 14% is already much lower compared to traditional retailers who typically mark up name brand products anywhere from 25 to 50%. 与传统零售商相比，14%已经低了很多，传统零售商通常对品牌产品的加价幅度在25%到50%之间。 [04:37] However, for their private label, Kirkland, which they can produce at lower cost, they allow themselves to take just one more percentage point at a maximum 15% markup. 然而，对于他们自己生产成本较低的自有品牌 Kirkland，他们允许自己最高加价15%，仅多一个百分点。 [04:48] Now, this might not seem that significant, but there's a lot to unpack here. 现在，这可能看起来并不那么重要，但这里有很多值得探讨的地方。 [04:53] First of all, the public price discipline, literally stating that they will not take a higher markup in these percentages creates a ton of trust within their customer base. 首先，公开的价格纪律，字面上说明他们不会在这些百分比上收取更高的加价，这在他们的客户群中建立了大量的信任。 [04:59] Costco would 好市多会 [05:03] rather mark something low, move it off the shelves in huge quantities, keep you coming back, than to mark it up higher, and having it sit around collecting dust. 宁愿以低价标记商品，大量地将其从货架上移走，让您不断回购，而不是以高价标记商品，然后让它积满灰尘。 [05:11] And this kind of breaks so many rules of retail. 而这似乎打破了零售业的许多规则。 [05:14] The co-founder Jim Sagal put it perfectly in a recent interview when he said, "Many retailers look at an item and say, I'm selling this for $10, but how could I sell it for $11?" 联合创始人吉姆·萨加尔在最近的一次采访中完美地阐述了这一点，他说：“许多零售商看着一件商品说，我卖10美元，但我怎么能卖11美元呢？” [05:25] Costco looks at it and says, "How can we get it to $9 and then later, how do we get it down to $8?" 好市多则看着它说：“我们怎么能把它降到9美元，然后过段时间再降到8美元呢？” [05:31] But if Costco is not making fat profit margins on its products, where's the profit coming from? 但如果好市多对其产品没有丰厚的利润率，利润从何而来？ [05:34] If you shop at Costco, I bet you can guess. 如果您在好市多购物，我敢打赌您能猜到。 [05:36] Their real profit driver is membership fees. 他们真正的利润驱动力是会员费。 [05:40] As of last year, Costco reported having $137 million members. 截至去年，好市多报告拥有1.37亿美元会员。 [05:47] Memberships range from $65 for the gold star in business to $130 for executive status. 会员资格从金星商务会员的65美元到行政会员的130美元不等。 [05:52] And unlike the $1.50 wieners, these membership prices have increased with inflation. 与1.50美元的热狗不同，这些会员价格已随通货膨胀而上涨。 [05:58] Now, I knew the membership fees were a big part of Costco's business model 现在，我知道会员费是好市多商业模式的重要组成部分 [06:03] because I'd read about the company before out of interest. 因为我之前出于兴趣读过这家公司。 [06:07] But I didn't realize just how staggering these stats were until I did the research for this video. 但直到我为这个视频做研究之前，我都没有意识到这些数据有多么惊人。 [06:11] The membership fees contribute only about 2% of Costco's revenue, but account for 73% of their gross profit. 会员费仅占好市多收入的约2%，但却占其毛利润的73%。 [06:20] Crazy. 太疯狂了。 [06:22] So, to connect the dots, cuz I know I just threw a lot at you, Costco keeps prices aggressively low, builds trust with its razor thin markups, gets you hooked on the experience, and then makes the most of its profits from those annual membership fees. 所以，为了把这些联系起来，我知道我刚才说了好多信息，好市多将价格保持在极低的水平，通过微薄的利润建立信任，让你沉迷于购物体验，然后从年费会员费中获得最大利润。 [06:32] Okay. 好的。 [06:32] Okay. 好的。 [06:34] Super thin margins, low prices, but still, Costco's revenue last year was $254 billion. 利润微薄，价格低廉，但尽管如此，好市多去年的收入却达到了2540亿美元。 [06:43] Once again, third largest retailer in the world, only behind Walmart and Amazon. 再次强调，是全球第三大零售商，仅次于沃尔玛和亚马逊。 [06:46] So, they're moving some serious volume. 所以，他们的销量非常大。 [06:49] They must sell a ton of different products, right? 他们一定卖很多种不同的产品，对吧？ [06:49] Wrong. 错了。 [06:54] Again, most Costco locations only stock around 3,700 different products, which is so minuscule for how big these warehouses are. 再说一遍，大多数好市多门店只储备约3700种不同的产品，对于这些仓库的规模来说，这个数量微不足道。 [07:00] Compared to a Walmart Super Center, which sells about 140,000 与沃尔玛超级中心相比，后者销售约14万种商品。 [07:04] different products, the strategy is instead of overwhelming their customer with so many different choices, they choose one, two, three, maybe four different brands to sell alongside their private label version. 不同的产品，策略是，与其让顾客在众多选择中不知所措，他们会选择一、二、三、甚至四种不同的品牌与自有品牌版本一同销售。 [07:14] And they sell it in volume. 并且他们大量销售。 [07:16] And guess what? 你猜怎么着？ [07:18] This gives Costco extreme negotiating power. 这给了好市多极大的谈判能力。 [07:21] If the shelf only has two spots and one of them is already taken by Kirkland, that means that every other brand is fighting for that one remaining seat at the Costco table. 如果货架只有两个位置，其中一个已经被科克兰占了，那就意味着其他所有品牌都在争夺好市多货架上剩下的那一个位置。 [07:29] Needless to say, this gives Costco an enormous amount of leverage. 不用说，这给了好市多巨大的影响力。 [07:33] Brands know that landing on the Costco shelf can mean millions of dollars in volume and long-term customer loyalty. 品牌知道，登上好市多的货架可能意味着数百万美元的销量和长期的客户忠诚度。 [07:39] So, they're often willing to lower their wholesale prices for Costco, create better packaging formats, or even tweak their formula just to make it in. 所以，他们通常愿意为好市多降低批发价格，创造更好的包装形式，甚至调整配方，以便能够入驻。 [07:47] Another way Costco stays honest, they don't charge these brands for the shelf space once they're in, like many other retailers do. 好市多保持诚信的另一种方式是，一旦品牌入驻，他们不像许多其他零售商那样收取货架空间费。 [07:52] If a brand is here, it's because they presented the best deal to Costco and earn their way in. 如果一个品牌在这里，那是因为他们向好市多提供了最优惠的交易，并凭实力赢得了入驻资格。 [07:56] Limited selection also creates operational efficiency behind the scenes. 有限的选择也提高了后台的运营效率。 [08:00] With fewer products to manage, Costco can turn 管理的产品更少，好市多可以周转 [08:04] inventory faster, negotiate better shipping rates, reduce waste from expired products, and simplify everything from restocking to staff training. 库存更快，运费谈判更好，减少过期产品的浪费，并简化从补货到员工培训的一切。 [08:13] So, while other retailers are playing inventory Tetris by selling thousands and thousands of SKs, Costco is moving massive volume of the same products over and over again. 所以，当其他零售商通过销售成千上万的SKU来玩库存俄罗斯方块时，好市多却在一次又一次地大量销售相同的产品。 [08:25] It is retail efficiency at its finest. 这是零售效率的极致。 [08:27] This limited skew model and negotiating power is something that we've seen before. 这种有限的SKU模式和谈判能力是我们以前见过的。 [08:31] Trader Joe's stocks limited products to avoid giving the customer decision fatigue. Trader Joe's 销售有限的产品，以避免给顾客带来选择疲劳。 [08:34] Arowan has extreme negotiating power since products have to pass an extremely high bar of health to even be stocked at the stores. Arowan 拥有极强的谈判能力，因为产品必须通过极高的健康标准才能在商店销售。 [08:41] I think of Costco as sort of a combination of the two. 我认为好市多是两者的结合。 [08:45] So to sum up Costco's business model at a high level, you pay just to walk in the door. 所以，总而言之，好市多的商业模式在高层次上是，你只需付费就能走进店门。 [08:50] Those membership fees create stable recurring profit, which lets Costco keep prices low, which builds trust and loyalty within you, the customer, which leads to bulk buying, which gives Costco massive supplier power. 这些会员费创造了稳定的经常性利润，使好市多能够保持低价，从而在您——顾客——心中建立信任和忠诚度，这导致了批量购买，这使好市多拥有巨大的供应商权力。 [09:01] And this whole flywheel fuels a 而整个飞轮效应为 [09:05] sense of value and discipline around the Costco brand that is pretty unmatched in retail. 围绕好市多品牌有一种价值感和纪律感，这在零售业中几乎是无与伦比的。 [09:10] And this isn't just an American phenomenon. 这不仅仅是美国的现象。 [09:12] Costco has cracked the code in 14 different countries by keeping its core model intact while adapting to local tastes. 好市多通过保持其核心模式不变，同时适应当地口味，在14个不同的国家破解了密码。 [09:21] In Japan, you'll find matcha KitKats in smaller bulk sizes for smaller homes. 在日本，你会发现抹茶奇巧巧克力以更小的散装尺寸出售，适合更小的家庭。 [09:24] In Korea, you'll find Bulgi bake instead of chicken bake. 在韩国，你会发现烤肉包而不是鸡肉包。 [09:26] I'm probably pronouncing that so wrong. 我可能发音错了。 [09:30] Bulgi. I should have looked up the pronunciation before this video. 烤肉。我本应该在这段视频之前查一下发音的。 [09:32] Bulgi. 烤肉。 [09:35] Bulgi in Canada. 加拿大的烤肉。 [09:36] Poutine in the food court, of course. 当然，美食广场里有肉汁奶酪薯条。 [09:39] And honestly, I want to go back to Iceland just to see what Icelandic things they have in the Costco that's about 7 miles south of Raikyc. 说实话，我想回到冰岛，只是想看看在距离雷克雅未克约7英里以南的好市多里有什么冰岛特色商品。 [09:43] Seems like there's some fun stuff there. 看起来那里有一些有趣的东西。 [09:45] I looked it up. 我查了一下。 [09:46] But across all these countries, same membership model, same Kirkland quality, same concrete aesthetic, but with enough local flavor to feel authentically Costco no matter where you are. 但在所有这些国家，都是同样的会员模式，同样的柯克兰品质，同样的混凝土美学，但有足够的当地特色，让你无论身在何处都感觉像是真正的好市多。 [09:57] You trust them to save you money. 你相信他们能为你省钱。 [09:59] They trust you to renew your membership. 他们相信你会续订会员。 [10:02] Everybody wins. 每个人都赢了。 [10:02] But there's one more piece of the puzzle that we got to double click on, and it's probably my 但还有一件事是我们必须深入探讨的，这可能是我... [10:06] favorite part of their whole strategy besides the hot dog. 他们整个策略中最喜欢的部分，除了热狗之外。 [10:08] But my second favorite part of the Costco strategy is hiding in plain sight, and it might just be their biggest unlock of all. 但我最喜欢的第二部分是好市多策略中，是隐藏在视线之内，而这可能就是他们最大的突破。 [10:16] Let's talk about Kirkland. 让我们谈谈柯克兰。 [10:16] Costco's beloved one-sizefits-all. 好市多备受喜爱的，一应俱全的。 [10:18] Kirkland signature private label brand didn't exist before 1995. 柯克兰签名自有品牌在1995年之前并不存在。 [10:22] Before that, it was kind of a branding free-for-all. 在此之前，它是一种品牌自由竞争的状态。 [10:24] Costco had a whole collection of madeup names across a bunch of different products categories. 好市多在许多不同的产品类别中，拥有一系列自创的名称。 [10:29] one brand for paper towels, another for snacks, another for stationery. 一种品牌用于纸巾，另一种用于零食，另一种用于文具。 [10:33] They would just create a new label whenever they launched a new product, which is pretty standard in retail to have a lot of different private label brands. 他们会在推出新产品时创建一个新标签，这在零售业中很常见，拥有许多不同的自有品牌。 [10:42] So, why did they change to just Kirkland? 那么，他们为什么改为只使用柯克兰呢？ [10:44] In a recent interview with the Wall Street Journal, co-founder Jim Sagal shared the story that sparked the Kirkland revolution. 在最近接受《华尔街日报》的采访中，联合创始人吉姆·萨加尔分享了引发柯克兰革命的故事。 [10:50] He was visiting a warehouse and asked the manager if a shipment of the Costco private label brand legal notepads had arrived. 他正在参观一个仓库，并询问经理好市多自有品牌法律便笺的货物是否已到。 [10:57] The manager said no. 经理说没有。 [10:57] But when Jim went to the back to check for himself, he found the legal notepads branded Pinnacle sitting right there. 但当吉姆去后面亲自查看时，他发现印有Pinnacle品牌的法律便笺就放在那里。 [11:03] The kicker, the manager didn't even realize that Pinnacle was one of 有趣的是，经理甚至没有意识到Pinnacle是其中之一 [11:07] Costco's brands. 好市多的品牌。 [11:09] Cue the light bulb moment. 灵光一闪。 [11:11] If people inside Costco didn't even recognize their own private label brands, how were customers supposed to build brand trust or loyalty? 如果好市多内部的人甚至不认识他们自己的自有品牌，顾客又怎么能建立品牌信任或忠诚度呢？ [11:17] So, Sagal made the radical call to consolidate all of their private label brands under one master brand. 所以，Sagal 做出了一个大胆的决定，将他们所有的自有品牌整合到一个主品牌之下。 [11:21] One name, one standard, one identity. 一个名称，一个标准，一个身份。 [11:24] Kirkland Signature named after Costco's original headquarters in Kirkland, Washington. Kirkland Signature 以好市多最初位于华盛顿州柯克兰的总部命名。 [11:30] This might seem like the obvious move within the context of that story. 在这个故事的背景下，这似乎是一个显而易见的举动。 [11:32] But at the time and even now, it actually goes against every playbook in retail. 但在当时，甚至现在，这实际上都违背了零售业的每一个惯例。 [11:36] Successful department stores at the time like Sears were going in the opposite direction, launching even more private label brands to be able to target different demographics and price points. 当时像西尔斯这样成功的百货公司却走向了相反的方向，推出了更多的自有品牌，以能够针对不同的细分市场和价位。 [11:47] Even today, Target has over 45 different private labels like a new day for their clothing, Good and Gather for their food, each with its own curated aesthetic. 即使在今天，塔吉特也有超过 45 个不同的自有品牌，例如服装的 a new day，食品的 Good and Gather，每个品牌都有自己精心策划的美学风格。 [11:56] Walmart even has over 20 private label brands. 沃尔玛甚至拥有超过 20 个自有品牌。 [11:58] So, why do companies do this? 那么，公司为什么要这样做呢？ [12:00] Well, there are a number of reasons. 嗯，有几个原因。 [12:02] One, multiple brands can help segment identities and position each brand a little bit differently to 第一，多个品牌可以帮助细分身份，并将每个品牌定位得略有不同，以 [12:08] appeal to different demographics. 吸引不同的消费群体。 [12:10] it can also help hedge reputational risk. 它还可以帮助对冲声誉风险。 [12:12] So, if a Target food product flop happens, it doesn't taint your image of Target's apparel line, let's say. 所以，如果塔吉特食品产品失败了，比如说，它不会玷污你对塔吉特服装系列的印象。 [12:19] But Costco said, "Nope, one brand to rule them all." 但好市多说，“不，一个品牌统治一切。” [12:22] And it has worked spectacularly well. 而且效果非常好。 [12:24] Today, Kirkland Signature accounts for about a third of Costco's revenue, generating $86 billion just last year. 如今，Kirkland Signature 占好市多收入的约三分之一，去年仅创收 860 亿美元。 [12:34] That is more than Proctor and Gamble alone, more than Craft Time. 这比宝洁公司本身还要多，比 Craft Time 还要多。 [12:36] It's a brand that customers know, love, and most importantly trust. 这是一个顾客了解、喜爱，最重要的是信任的品牌。 [12:42] But why is Kirkland so trusted? 但为什么 Kirkland 如此值得信赖？ [12:45] Because when we think of private labels, I think a lot of us think generic, cheaper, slightly sad, lower quality knockoff of the real thing. 因为当我们想到自有品牌时，我认为我们很多人会想到普通、便宜、有点可悲、质量较低的仿冒品。 [12:52] And this is where Kirkland flips the script. 而这正是 Kirkland 改变现状的地方。 [12:54] Kirkland's goal is not just to offer a lower cost alternative. Kirkland 的目标不仅仅是提供更低成本的替代品。 [12:58] The goal has always been to match or beat the level of quality on name brands. 目标一直是匹配或超越知名品牌的质量水平。 [13:03] And sometimes Kirkland is the national brand in disguise. 有时 Kirkland 就像伪装的全国性品牌。 [13:05] Some fun examples. 一些有趣的例子。 [13:08] Kirkland batteries are made by Kirkland 电池由...制造 [13:10] Duracell and they also sell Duracell. 金霸王，他们也卖金霸王。 [13:12] Kirkland coffee famously manufactured by Starbucks. 科克兰咖啡，由星巴克著名生产。 [13:15] There's been a long-standing rumor that Kirkland vodka is just rebottled Greygus. 长期以来一直有一个传言，说科克兰伏特加只是重新灌装的格雷格斯。 [13:19] That one's been debunked sadly, but the fact that it holds up in a blind taste test against Greygus, that's saying something. 那个不幸被证伪了，但它在与格雷格斯的盲品测试中表现不俗，这说明了一些问题。 [13:26] And they don't sell it at this Costco, which is lame, but I thought you guys should know cuz Greygus gets talked about a lot. 而且他们在这个好市多不卖，这很糟糕，但我认为你们应该知道，因为格雷格斯经常被谈论。 [13:30] And Costco doesn't try to bury the Kirkland brand on the bottom shelves. 而且好市多不会试图把科克兰品牌藏在最下面的货架上。 [13:34] Nope. 不。 [13:34] It is right there next to the name brand version that you know. 它就在你所知道的品牌旁边。 [13:37] And in many cases, customers choose Kirkland because they trust it more. 在很多情况下，顾客选择科克兰是因为他们更信任它。 [13:41] Here are some fun facts and examples of Kirkland products that have gained an extra cult following. 这里有一些关于科克兰产品获得额外狂热追捧的有趣事实和例子。 [13:45] Kirkland is the largest seller of cashews in the entire world. 科克兰是全球最大的腰果销售商。 [13:50] Not Planters, not Blue Diamond, Kirkland. 不是兰花牌，不是蓝钻，是科克兰。 [13:52] Their nut game, famously strong. 他们的坚果产品，以强大而闻名。 [13:55] They also sell $1 billion of toilet paper every year. 他们每年还销售价值10亿美元的卫生纸。 [13:58] $1 billion. 10亿美元。 [14:01] And yes, there are Reddit threads comparing the performance of Kirkland toilet paper to Cottonell and Charmin Ultra. 是的，有Reddit帖子将科克兰卫生纸的性能与Cottonell和Charmin Ultra进行比较。 [14:05] People have opinions. 人们有自己的看法。 [14:08] The Kirkland protein 科克兰蛋白质 [14:10] bars, which are basically Costco's version of a Quest bar. 酒吧，它们基本上是好市多（Costco）版的Quest能量棒。 [14:13] Fitness influencers love them. 健身网红们喜欢它们。 [14:17] Kirkland golf balls, which are so good and so cheap that Tidalist actually sued Costco, saying they must have copied their provula after the balls from Costco got so much praise from pro golfers. Kirkland高尔夫球，它们如此之好又如此之便宜，以至于Titleist（泰特利斯特）实际上起诉了Costco，声称他们一定抄袭了他们的Pro V1，因为Costco的球从职业高尔夫球手中获得了如此多的赞誉。 [14:31] Costco actually counter sued Titalist and then it was settled out of court. Costco实际上反诉了Titleist，然后此事庭外和解了。 [14:33] So, who knows? 所以，谁知道呢？ [14:34] But, uh, those must be some good balls. 但是，呃，那些球一定很不错。 [14:37] The Italian olive oil that's actually made in Italy and passes authenticity tests every single year. 意大利橄榄油，它实际上产自意大利，并且每年都通过真实性测试。 [14:41] the Kirkland Wine Collection, which is produced by some very reputable wineries in Napa and sold for a fraction of the price. Kirkland葡萄酒系列，它由纳帕的一些非常有声望的酿酒厂生产，并以极低的价格出售。 [14:49] They don't sell wine at this Costco. 这家Costco不卖酒。 [14:51] Once again, kind of lame, but all of this builds into something pretty rare. 再说一遍，有点逊，但这一切都构成了一个相当罕见的东西。 [14:55] A private label brand with a personality and a very high level of quality. 一个具有个性和高品质的自有品牌。 [15:00] Kirkland isn't the shadow brand. Kirkland不是一个不起眼的品牌。 [15:02] It's front and center right there next to the name brand. 它就在名牌旁边，显眼地摆在前面。 [15:06] And for many Costco members, it's one of the main reasons that they keep coming back. 对于许多Costco会员来说，这是他们一直回购的主要原因之一。 [15:08] They don't think discount. 他们不认为这是打折商品。 [15:10] They think this is probably the best 他们认为这可能是最好的 [15:12] deal in the store. 在商店里交易。 [15:13] Kirkland's quality and value is often cited as the number one reason that shoppers renew their Costco memberships year after year. 柯克兰的品质和价值经常被认为是顾客年复一年续订好市多会员资格的首要原因。 [15:20] Crazy impressive stat to show for it. 这真是一个令人印象深刻的统计数据。 [15:22] Costco's membership renewal rate sits at almost 93% in the US. 好市多的会员续订率在美国接近93%。 [15:27] That level of loyal customer retention is a rate that so many businesses could only dream of. 这种程度的忠实客户保留率是许多企业梦寐以求的。 [15:32] And you know what? Count me in as a Kirkland stand. 你知道吗？算我一个柯克兰的支持者。 [15:34] I can't think of any other private label. 我想不到还有其他自有品牌。 [15:36] Maybe Trader Joe's. 也许是Trader Joe's。 [15:39] Definitely Trader Joe's where I'm super stoked to see it. 绝对是Trader Joe's，我看到它非常兴奋。 [15:43] One of my friends brought over a Kirkland bottle of wine to my house for me a couple years ago. 几年前，我的一位朋友带了一瓶柯克兰的葡萄酒到我家。 [15:46] I was thrilled to see it. 我看到它非常激动。 [15:48] My parents have bought Kirkland everything since I was the size of a little chicken nugget. 自从我还像个小鸡块那么大的时候起，我父母就一直在买柯克兰的各种东西。 [15:51] I love Kirkland now at 27. 我现在27岁了，我爱柯克兰。 [15:53] I loved it when I was 10 and running around the wide aisles and riding the shopping carts with my brother. 我10岁时，和哥哥一起在宽敞的过道里跑来跑去，骑着购物车，那时候我就爱它了。 [15:59] And I am sure I will still love it when I'm 50, probably even more. 我确信我50岁时仍然会爱它，可能还会更爱。 [16:03] Which is a good segue into our next section. 这是一个很好的过渡，进入我们的下一部分。 [16:05] Now that we know the business model, we know the hot dog, we know the private label playbook, how is it that Costco in its stereotypically 现在我们知道了商业模式，知道了热狗，知道了自有品牌策略，那么好市多是如何在其刻板印象中 [16:12] Boomer fashion in all of its concrete glory still manages to be beloved by all generations, young people, older people, families, doomsday preppers, even TikTokers. 复古风潮以其朴实无华的荣耀，仍然受到所有世代的喜爱，年轻人、老年人、家庭、末日准备者，甚至TikTok用户。 [16:20] Let's talk about how Costco is weirdly cool now and what that means for the company's future. 让我们谈谈Costco现在是如何奇怪地变得很酷的，以及这对公司的未来意味着什么。 [16:27] It makes perfect sense to me why Trader Joe's is especially popular with young people with its playful, colorful signage, its fun, quirky snacks, its famously super friendly employees and Hawaiian shirts and affordable prices. 对我来说，Trader Joe's之所以特别受年轻人欢迎，是有充分理由的，它的俏皮、多彩的标牌，它有趣的、古怪的零食，它闻名遐迩的超级友好的员工和夏威夷衬衫，以及实惠的价格。 [16:40] Costco, on the other hand, is concrete. 另一方面，Costco是朴实的。 [16:42] It's fluorescent. 它是荧光的。 [16:44] It's no frills. 它不花哨。 [16:47] It's not exactly TikTok bait and yet it's happening. 它不完全是TikTok的诱饵，但它却正在发生。 [16:50] Gen Z of all groups has become one of Costco's fastest growing customer segments. Z世代已成为Costco增长最快的客户群体之一。 [16:54] Of course, this is in part because Gen Z are becoming adults of grocery shopping age. 当然，这部分原因在于Z世代正在步入需要购买杂货的成年年龄。 [16:58] But there's more to it than that, and it's not just the hot dog. 但原因不止于此，而且不仅仅是热狗。 [17:02] With food prices still elevated near the peak levels that we saw in 2022, 2023, Jenz has gotten creative. 随着食品价格仍然接近我们在2022年、2023年看到的峰值水平，Z世代已经变得有创意了。 [17:09] They're fighting inflationary prices by buying in bulk and then 他们通过批量购买来对抗通货膨胀的价格，然后 [17:13] Splitting the bill later with their roommates, friends, and family. 稍后与他们的室友、朋友和家人分摊账单。 [17:17] A recent study by Advantage Solutions found that nearly 40% of shoppers aged 25 to 34 report splitting bulk groceries. Advantage Solutions 最近的一项研究发现，近 40% 的 25 至 34 岁购物者报告称会分摊大宗食品杂货的费用。 [17:25] This way with anecdotes from frat bros who pile into a car together and do a weekly run to Costco and then split the bill later on via Venmo. 这种方式就像兄弟会成员的轶事一样，他们一起挤进一辆车，每周去一次好市多，然后通过 Venmo 稍后分摊账单。 [17:32] It's kind of cute if you think about it. 如果你仔细想想，这有点可爱。 [17:34] But that's just one piece of the puzzle. 但这只是拼图的一小部分。 [17:36] Costco's brand image is changing, too. 好市多的品牌形象也在发生变化。 [17:38] We know that Costco has always been about delivering a high-quality product at a good price, but it seems that Gen Z is just now especially catching on to that. 我们知道好市多一直致力于以优惠的价格提供高质量的产品，但似乎 Z 世代现在尤其开始注意到这一点。 [17:46] I say this as though I'm literally not Gen Z, but I'm a boomer at heart. 我说这话，好像我真的不是 Z 世代，但我内心是个婴儿潮一代。 [17:49] According to a recent poll, Gen Z adults are more frequently describing Costco with the words premium, visionary, and customer eccentric. 根据最近的一项民意调查，Z 世代成年人更频繁地用“高端”、“有远见”和“以客户为中心”等词来形容好市多。 [17:57] In fact, Gen Z now views Costco's brand as higher quality than the general adult population does, which is kind of amazing when you think about the fact that Costco's vibe really seems to cater to people with like four kids. 事实上，Z 世代现在认为好市多的品牌质量高于普通成年人群体，当你想到好市多的氛围似乎真的迎合了那些有四个孩子的家庭时，这有点令人惊讶。 [18:10] Also, when I said that Costco isn't exactly Tik Tok bait, turns out kind of 另外，当我提到好市多不完全是抖音的菜时，结果有点 [18:15] actually is. 实际上是。 [18:17] A video by the deal guy titled 10 new Costco deals you need to buy in July 2025 posted 9 days ago 1.1 million views. 一个由“交易达人”发布的视频，标题是《你需要在2025年7月购买的10个新的好市多交易》，9天前发布，获得了110万次观看。 [18:24] Must be a crazy outlier, right? 这一定是一个疯狂的异常值，对吧？ [18:26] Wait, what? 等等，什么？ [18:28] What's that? 那是什么？ [18:28] Another video by the deal guy titled 10 things you should be buying at Costco in 2025 posted just 2 weeks before that other one. 另一个由“交易达人”发布的视频，标题是《2025年你应该在好市多购买的10件物品》，比上一个视频早两周发布。 [18:33] Also 1.1 million views. 同样获得了110万次观看。 [18:34] Binging with Babish trying every Kirkland Signature Product. 《巴比什的狂欢》尝试了每一款科克兰签名产品。 [18:39] 1.6 million views in 1 month. 一个月内获得了160万次观看。 [18:42] And finally, Bobby Parish, Costco shopping guide for 2025. 最后，鲍比·帕里什的《2025年好市多购物指南》。 [18:46] 2.1 million views in 7 months. 7个月内获得了210万次观看。 [18:48] Yes, these videos are being posted by huge channels with millions of subscribers. 是的，这些视频是由拥有数百万订阅者的大型频道发布的。 [18:50] But even still, these Costco videos are outperforming the other videos on those channels. 但即便如此，这些好市多视频的表现仍然优于这些频道上的其他视频。 [18:52] So, Costco has more cultural cache than I think a lot of us give it credit for, with its bulk grocery reviews and shopping guides generating millions of views. 所以，好市多比我们许多人认为的更具文化吸引力，其大宗食品评论和购物指南吸引了数百万的观看量。 [18:58] I don't know if you guys find this part as interesting as I do, but it's my job and I think it's fun to find those outliers. 我不知道你们是否觉得这部分和我一样有趣，但这是我的工作，而且我觉得找到那些异常值很有趣。 [19:05] And I think it's so cool that Costco is one of them. 而且我觉得好市多是其中之一，这太酷了。 [19:10] Now, a lesser discussed part of what I think 现在，我所认为的一个较少被讨论的部分 [19:15] makes Costco so cool across generations is its product strategy. 使Costco在几代人中如此受欢迎的是其产品策略。 [19:19] Unlike Trader Joe's, which deliberately cork trendiness with its seasonal drops in quirky snacks, Costco isn't trying to be cool. 与Trader Joe's不同，Trader Joe's故意通过其季节性推出的新奇零食来引领潮流，而Costco并不试图显得很酷。 [19:26] But then you look around and realize, is that Graza olive oil? 但然后你环顾四周，意识到，那是Graza橄榄油吗？ [19:30] Are those Birkenstocks? 那是勃肯鞋吗？ [19:32] Is that Dyson? 那是戴森吗？ [19:35] Costco is low-key kind of cool and they've kind of mastered the quiet slip-in of the trendy product next to the generic thing. Costco低调地有点酷，他们已经掌握了将潮流产品巧妙地插入到普通商品旁边的技巧。 [19:41] So, while the main drivers that get people of all ages in the door are highquality items at good prices, the trusted Kirkland brand and of course, it doesn't hurt that Costco also does limited time runs of buzzy specialty item brands that help create that treasure hunt experience. 所以，虽然吸引所有年龄段的人走进来的主要因素是高质量的商品和优惠的价格，值得信赖的Kirkland品牌，当然，Costco还限量推出热门的特色商品品牌，这有助于创造那种寻宝体验，这也有好处。 [19:56] It helps drive urgency and excitement to get you to go to Costco now instead of waiting until next month. 它有助于激发紧迫感和兴奋感，促使你现在就去Costco，而不是等到下个月。 [20:02] And it also creates fun Costco haul videos. 它还创造了有趣的Costco购物分享视频。 [20:06] In this product strategy, whether you're a costconcious college student or, you know, a dad feeding a family of five, I think they hit the sweet spot between value, 在这种产品策略中，无论你是精打细算的大学生，还是，你知道的，一个要养活五个人的爸爸，我认为他们都在价值方面达到了最佳平衡点， [20:15] discovery, and quality. And something [20:17] about them not trying to be cool just [20:20] makes them so cool. So, we've covered [20:22] the business model. We've covered the [20:23] Kirkland empire and the [20:25] multigenerational appeal. Here's the [20:27] million-dollar question, the $254 [20:29] billion question. Can Costco keep this [20:32] magic going forever? Because in my [20:34] research, I did find some potential [20:36] challenges on the horizon. First up, the [20:38] online shopping revolution. While Amazon [20:40] and Walmart have gone allin on grocery [20:43] delivery, Costco has been, let's say, [20:46] thoughtfully cautious with their [20:47] e-commerce approach. They do offer some [20:49] same day delivery through Instacart and [20:51] 2-day delivery on their site, but it's [20:53] clunky, it's limited, and it's clearly [20:56] not the main event. And maybe that's the [20:58] point because so much of the Costco [21:00] magic happens within the warehouse. The [21:02] treasure hunt, the free samples, the [21:05] impulse buys, that weird satisfaction of [21:07] lugging home a bunch of highquality golf [21:09] balls, I guess. How do you replicate [21:12] that digitally? But Gen Z and younger [21:14] millennials increasingly expect [21:16] convenience. They want their groceries [21:18] delivered. They want to be able to shop [21:19] on their phones. And they want it now. [21:21] In my opinion, Costco's challenge is [21:23] evolving their digital experience [21:25] without losing the warehouse magic that [21:27] drives loyalty. And then there's the [21:29] competition heating up on multiple [21:31] fronts. Sam's Club is investing heavily [21:33] in Scanand Go technology. Amazon Prime [21:35] offers a membership for roughly the same [21:37] price as a Costco membership, and [21:39] obviously they ship very, very quickly. [21:41] Even traditional grocerers are launching [21:43] better private labels in bulk options. [21:45] Plus, there are natural limits to [21:47] growth. Costco works best in suburban [21:49] markets where people have cars and [21:51] storage. These ideal locations are not [21:54] infinite, especially within the US [21:56] market, which is already saturated. But [21:58] here's why I'm not betting against [21:59] Costco. They have proven remarkably good [22:02] at evolving without changing their core [22:04] identity. The Kirkland brand alone is [22:06] worth billions. Their supplier [22:08] relationships are incredibly strong. And [22:10] that almost 93% renewal rate, that's not [22:13] just customers. That's a community of [22:15] people who genuinely love shopping here. [22:17] >> One more shout out for the hot dog. The [22:18] fact that they've kept this $1.50 for 40 [22:21] years while everything else has inflated [22:24] tells you everything you need to know [22:25] about their discipline and long-term [22:27] thinking. They're not only chasing [22:28] quarterly profits. They're building [22:30] something that lasts. Will Costco look [22:32] the same in 10 years? Probably not. Will [22:34] it still be a place where you can trust [22:35] the quality, get genuine value, and walk [22:38] out with more than you planned? I'm [22:39] betting yes because good value delivered [22:41] with integrity never goes out of style [22:44] even if the delivery method evolves. So [22:46] yeah, on paper Costco sounds like dad [22:48] energy. No ads, no frrills, no music, no [22:52] convenient sizing, and yet it is one of [22:54] the most beloved and bulletproof [22:56] retailers on the planet. Because [22:58] underneath it all is a strategy that is [23:00] deceptively smart. Use discipline and [23:03] scale to earn trust and then double down [23:05] on that with every decision. That's why [23:07] people will drive across town for [23:09] Kirkland Cashews. Why they'll renew [23:11] their membership year after year at a [23:13] nearly 93% rate. And why Gen Z are [23:17] showing up in droves. It's not just a [23:20] store, it's a welloiled system. And if [23:22] there's one thing that Costco does not [23:24] sell, it's shortcuts. Question for you. [23:27] What part of the Costco business do you [23:28] find the most interesting? And if you're [23:30] a Costco shopper, what's your ultimate [23:32] purchase? I read every single comment, [23:34] so let me know down below. And if you [23:35] enjoyed this video, please give it a [23:37] thumbs up. Subscribe for more videos [23:38] like this. They take a long time to [23:40] research and to write, but I really [23:42] enjoy it. So anyways, thank you guys for [23:44] watching and until next time, turtle [23:46] out. [23:47] No, [23:49] no, that's my hot dog. Thank you very [23:53] much. [23:57] Hell yeah. Nut game. Thought it was [23:58] funny. I make another double onandra [24:01] later about the golf balls. So naughty [24:05] Kirkland. [24:09] Perfect. Does it look ladylike [24:12] wine? Vodka. [24:14] Is it Greyg goose? Who's to say not sell [24:17] its shortcuts? [24:19] >> Hell yeah. If I sat down, [24:22] should I sit? [24:24] I'm like [24:31] Kirkland [24:33] quality. One more [24:38] little leg pop. [24:44] Can you tell I've been hitting the gym? [24:47] Bet you can. [24:52] Can you see how big it is? This is [24:53] absurd. It's so soft. Oh, I love [24:57] squishallows. [24:59] Okay, nice. That's perfect. Rotisserie [25:03] thing in your cart. Am I getting too [25:06] silly? Okay. [25:09] Whoa, she's crazy. Okay, moving on. [25:16] I have a whole new level of confidence [25:18] in this outfit. [25:21] Uh, [25:23] okay. Ready. [25:29] >> 163. [25:31] >> Okay. Kirkland. Kirkland. Kirkland. [25:34] Kirkland. [25:36] Bless you. I could sit up here. [25:39] Does this look good? [25:41] Sometimes I'm like, how is this my job? [25:47] >> And look who I ran into. A subscriber at [25:49] Costco. Look, she's the best. [25:52] >> Oh, you're the best. Thank you so much. [25:58] >> Let's get a hot dog. Hey, if you liked [26:00] this video, I bet my bottom $1.50 that [26:03] you would also like this video. Check it [26:05] out. [26:11] [Music]