Club Sam’s membership fee will get more expensive

For the first time in almost a decade, Sam’s Club will raise its membership fee, joining a slew of other retailers and services that have raised such fees this year.

In a letter addressed to members shared with Nexstar on Wednesday, Sam’s Club President and CEO Kathryn McLay said that fees for Club members and Plus members will increase on October 17. This comes just a few weeks after Sam’s Club. reduce his Club Membership fee for a limited time is $8 for new members.

For Club members, the annual fee will increase by $5, from $45 to $50 per year. Club membership fee has been the same for nine years, according to McLay. For Plus members, who will see their first price change since 1999, the fee will increase from $100 to $110 per year.

“We are mindful of the financial pressure on the wallet today,” McLay wrote. “So, this year’s renewal is upon us. We’re giving back $5 in Sam’s Cash to Club members and $10 in Sam’s Cash to Plus members shortly after renewal.

Sam’s Cash Offset can be limited to one per member if you have multiple memberships. This offer is valid from 17 October to 16 October 2023.

In March Costco CFO Richard Galanti discussed the possibility a walking membership in the future, “especially in the light of companies like Amazon and Netflix raising their costs” earlier this year.

Netflix increased monthly costs in January, with a price increase of about $ 1 to $ 2, depending on the plan. It will also soon add lower prices, ad-supported plan soon but the official date has not been announced. In February, The annual cost of Amazon Prime is going up – this also affects streaming through Amazon.

In early August, Disney announced its three streaming services – Disney +, Hulu, and ESPN + – will be more expensive. This price increase comes as Disney launches its ad-supported Disney+ subscription announced earlier this year.

Michael Bartiromo contributed to this report.

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