Costco barely needs to make money on the groceries
Costco sold about US$270 billion worth of merchandise in 2025. The membership changes what the groceries need to do.
Breakdowns
Companies pulled apart properly.
Where the money comes from, why customers stay, what protects the model and what could break it.
Why WHOOP stopped selling the device
WHOOP moved the hardware inside a membership and changed how the business could earn from the same customer over time.