diary:2024-03:2024-03-15 []

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Notes from https://www.economist.com/business/2024/02/15/why-costco-is-so-loved
  * Costco
    * "arrogantly simple" business model - hook shoppers by offering high-quality products at the lowest prices
    * gross margin iss ~12% vs. Walmart’s 24%
    * 129 million members in 2023 -> \$4.6 bn, more than half of operating profits
    * 3,800 distinct items vs. 7,000 items at Sam's Club vs. 120,000 at Walmart superstore
    * Kirkland Signature accounts for over a quarter of sales
    * Staff turnover is 8%
    * offers generous medical and retirement benefits to employees
  * Telsey Advisory Group

Notes from https://hbr.org/2024/03/lessons-from-costco-on-sustainable-growth
  * Costco
    * intelligent loss of sales
    * To protect low prices, Costco has in place what organizational psychologists call “commitment devices” that deliberately limit what it can do in the future.
    * There is a rule for not marking up any branded item by more than 14% and any Kirkland item by more than 15%.
    * 871 stores

  * Four Seasons Hotels and Resorts
    * doesn’t do loyalty programs.
    * Its way of boosting sales and attracting new customers is to offer consistent service and rely on word of mouth.
    * Isadore Sharp is the founder
    * high-touch-service, medium-size hotels

  * Unit managers — those who run a single factory, store, hospital, call center, or hotel