Sunday 10 December 2023

Things You Didn’t Know About Pricesmart

Paying the bills


The Casino Games With the Best Odds

Casino gambling on iGaming sites like mrbet or in...

Former Panamanian presidential candidate connected to a money laundering investigation arrested in Costa Rica

QCOSTARICA -- Costa Rican police on Tuesday arrested Panamanian...

Bailey Bridge will ease traffic congestion in front of San Jose airport

QCOSTARICA -- On Friday (tomorrow) traffic will be enabled...

Half of Ticos will vote in municipal elections, UNA survey

QCOSTARICA -- 46.3% of voters are 100% convinced that...

Fidel’s Sister and Outspoken Critic, Juanita Castro, Dies in Miami

Q24N - Juanita Castro, the younger sister of Fidel...

Exploring the potential of AI in sports betting

Sports betting is a popular and exciting activity that...

Dollar Exchange

¢526.96 BUY

¢533.11 SELL

9 December 2023 - At The Banks - Source: BCCR

Paying the bills



COSTA RICA NEWS — Althouh the Q! tried to get information directly from PriceSmart, we had to rely on the following from staff willing to talk to us, and online reports from various sources.

Those rotisserie chickens are a big deal

At ¢2.995 colones, ¢1.000 less that Walmart/Mas x Menos and ¢2.000 less that Automercado, they are a moneymaker for PriceSmart. Why? Despite the very little margin, the chickens are big draw for customers, where they can get the convenience of a quick-lunch or dinner, while loading up on toilet paper. “Economical as hell,” is the opinion of many consumers.

- Advertisement -

Members are well off and loyal

Retail Sales Numbers Continue To TumblePriceSmart has an ideal membership base. The average member is educated and economically above the standard in Costa Rica. Renewal of membership is very high, over 80%. Money from member fees helps PriceSmart pad its bottom line and one of the reason the chain can sell items at rock-bottom prices.

Related: Growth of the Wholesale Supermarket Business in Costa Rica

Employees like their jobs

We’ve all dealt with stereotypical retail employee, the cranky working stiff who tolerates customers just enough to collect that meager paycheck. Not so much at PriceSmart.

In General, PriceSmart employees earn an above average salary for Costa Rica and eager to help out customers.

PriceSmart is obsesses about toilet paper

Toilet paper displays are larger than for other products, and customers have a bigger selection as well. The Q! couldn’t get figures on toilet paper, but since PriceSmart is modeled after Costco, we can deduce that toilet paper is the No. 1 product at the company.

Wood Products Manufacturer Produces Bio-Friendly GoodsIn the U.S. Costco hires technicians to test toilet paper for thickness, strength and softness, CNBC reports. It sends merchandise managers to tour toilet paper mills, checking everything from paper quality to humidity levels to the water used in production. “How can you not fall in love with a product that is the number one thing that you sell?” former CEO Jim Sinegal told CNBC.

- Advertisement -

Shoes Are Big Thing

What? PriceSmart doesn’t sell shoes. Oh, but they do, in the name of Payless.

Located at the entrance of every PriceSmart is a Payless ShoeSource store.

PriceSmart tricks you into buying more

Did you ever stop at PriceSmart for one item, only to come out with a full cart? There’s a reason for that. PriceSmart  has some clever tricks up its sleeve to get people to buy more than they planned.

One trick is not putting any signs on the aisles. So if you’re hunting for printer paper, for example, and can’t remember where exactly it is, you may end up wandering through aisles full of potential purchases.

- Advertisement -

Costco Profits Rise In Weak Economy

PriceSmart has a small selection

You don’t get much choice at PriceSmart, and that’s by design. The typical PriceSmart warehouse carries less than 4.000 items, compare to twenty times that and more at typical Walmart.

Consumer Confidence Slides To Lowest Level In Over 50 YearsPriceSmart gives one or two types of pasta, for example, take it or leave it. The beauty of this model is that the company has multiple vendors bidding to get that single prized spot, and PriceSmart gets to negotiate its costs down.

Markup is low

PriceSmart doesn’t mark up every much, if applying the Costco model, not more than 15 percent. Membership fees give it some financial freedom to keep prices low, along with its tough negotiations with vendors.

- Advertisement -
Paying the bills
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

The Casino Games With the Best Odds

Casino gambling on iGaming sites like mrbet or in a land-based...

Former Panamanian presidential candidate connected to a money laundering investigation arrested in Costa Rica

QCOSTARICA -- Costa Rican police on Tuesday arrested Panamanian businessman and...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.