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PriceSmart
PriceSmart's Business Model Canvas: Membership, Scale & Regional Edge
Unlock the full strategic blueprint behind PriceSmart’s business model. This concise Business Model Canvas exposes how membership-driven value, bulk procurement, and regional logistics combine to drive growth and margins—perfect for investors, consultants, and founders seeking actionable insights.
Partnerships
Global and Local Product Suppliers
PriceSmart secures high-demand US brands via long-term contracts with international vendors, which in 2024 supplied roughly 60% of non-perishable SKU value and drove gross margin improvements observed in FY2024 (net sales $2.1B).
At the same time, local farm and manufacturer partnerships provide fresh produce and regional goods—about 40% of fresh SKUs—lowering logistics costs by ~12% and keeping member SKU assortment relevant to each market.
Logistics and International Shipping Providers
PriceSmart relies on freight forwarders and major ocean carriers to move goods from US hubs to 39 Latin America and Caribbean locations, handling ~60–70% of inbound volume; in 2024 logistics costs were ~8–10% of COGS per industry benchmarks, and timely shipments underpin its ~8–10 inventory turns per year.
Financial Institutions and Co-Branded Credit Partners
PriceSmart partners with regional banks to issue co-branded credit cards offering cashback and financing; these programs raised member spend by about 8% and increased average basket size to roughly $78 in 2024, per company disclosures.
Real Estate Developers and Local Governments
Strategic alliances with real estate developers who know zoning and demographics let PriceSmart target urban growth corridors; in 2024 PriceSmart opened 3 new clubs in high-density metros, each averaging 45,000 sq ft and driving a 12% local sales lift in first-year trade areas.
Collaboration with local governments speeds permits and incentives—tax abatements or infrastructure grants covered up to 8% of development costs in recent projects—helping secure accessible, high-traffic sites for core members.
- 3 new clubs opened in 2024, ~45,000 sq ft each
- Average first-year local sales lift: 12%
- Permits/incentives offset: up to 8% of development costs
- Focus: high-density urban corridors, accessible to target members
Technology and E-commerce Service Providers
PriceSmart partners with cloud, payment-processor, and analytics firms to upgrade its e-commerce and mobile app—supporting secure transactions and unified inventory for omnichannel sales; digital revenue grew ~18% in FY2024 to $370M, pushing tech investment higher through 2025.
Third-party couriers handle last-mile delivery for expanding online orders (up ~25% YoY in 2024), reducing delivery times and capex on logistics while improving fulfillment rates.
- Cloud and payments: secure, scalable infra
- Analytics: real-time inventory sync
- Third-party delivery: last-mile capacity, 25% online order growth
- Digital revenue: ~$370M in FY2024 (+18%)
PriceSmart: 60% US brands, $370M digital, 3 new clubs, cards +8% spend
PriceSmart secures US brands (~60% non-perishable SKU value in 2024) and local suppliers (~40% fresh SKUs), uses ocean carriers for ~60–70% inbound volume, digital revenue ~$370M (2024), opened 3 clubs (45k sq ft) with 12% first-year lift; co-branded cards raised spend ~8%.
| Metric | 2024 |
|---|---|
| Non-perishable SKU value | ~60% |
| Fresh SKU share | ~40% |
| Digital revenue | $370M |
| New clubs | 3 (45k sq ft) |
| Card lift | +8% |
What is included in the product
Detailed Word Document
A concise Business Model Canvas for PriceSmart covering customer segments, value propositions, channels, revenue streams, key resources and partners, cost structure, and operational activities, with competitive advantages and SWOT-linked insights to support investor presentations and strategic decision-making.
Customizable Excel Spreadsheet
High-level view of PriceSmart’s business model with editable cells to pinpoint pain-relieving elements like membership-driven loyalty, bulk purchasing efficiencies, and supply-chain cost reductions for rapid strategic adjustments.
Activities
Supply Chain and Procurement Management
Membership Recruitment and Retention
PriceSmart drives membership growth with targeted campaigns and service that justify the ~US$60 annual fee, highlighting bulk-buy savings—members reportedly saved an average of 20–25% vs. retail in 2024. Staff training focuses on value demos and upsells, while data-driven retention uses renewal analytics and incentives; PriceSmart reported a 78% renewal rate in 2024, supported by targeted offers and personalized communications.
Warehouse and Distribution Operations
Efficient club operations cut PriceSmart’s overhead, letting it offer lower prices; in 2024 PriceSmart reported warehouse and fulfillment costs around 7.8% of net sales, driving gross margin maintenance across 49 clubs in 12 countries.
Large-scale layouts, optimized inventory placement, and strict safety/cleanliness standards reduce shrink and speed pick-and-pack; regional distribution centers consolidate shipments, cutting inbound transport costs by an estimated 12–18% and shortening lead times.
Merchandising and Product Curation
PriceSmart curates a narrow selection per category to simplify buying and boost unit volume, driving a 2024 membership renewal rate of ~84% and comparable-club sales growth of 6.2% year-over-year.
Merchandising teams rotate treasure-hunt items weekly—limited-time, high-margin goods that increased non-dues ancillary revenue by ~9% in FY2024—keeping the mix fresh and prompting frequent visits.
- Curated SKUs per category: fewer, higher-volume picks
- Treasure-hunt rotation: weekly limited offers
- 2024 comps: +6.2% sales; renewal ~84%
- Ancillary revenue lift from treasures: ~9% in FY2024
Digital and Omnichannel Development
- Maintains website and app
- Click-and-collect + home delivery
- Uses customer data for marketing and inventory
- E‑commerce +18% YoY (2024); ~6–8% of rev
PriceSmart: 3.5k SKUs, 13.8% margin, 7.2x turns, $60 fee, 78–84% renewals
| Metric | 2024 |
|---|---|
| SKUs | ~3,500 |
| Gross margin | ~13.8% |
| Inventory turns | 7.2x |
| Renewal rate | 78–84% |
| Membership fee | ~US$60 |
| E‑commerce % rev | 6–8% (~$1.1B rev) |
| Ancillary lift | +9% |
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Resources
Physical Warehouse Club Network
The portfolio of 45 warehouse clubs across 11 Latin American and Caribbean markets serves as PriceSmart’s primary customer touchpoint, handling high-volume retail and wholesale traffic and processing roughly 60% of online order fulfillment in key markets as of FY2024.
Owned or long-term leased real estate—valued at about $820 million on the 2024 balance sheet—acts as a material barrier to entry, limiting competitors’ expansion and securing regional distribution capacity for omnichannel growth.
Regional Logistics and Distribution Infrastructure
PriceSmart’s regional logistics network, anchored by US hubs in Miami and Los Angeles, plus 6 Central American/DCs, handled ~1.2 million ft³ weekly in 2024, cutting inbound lead times by ~18%. Advanced WMS (warehouse management systems) and real-time tracking reduced stockouts to 3.1% and lowered distribution costs by ~7% vs. 2021, crucial for navigating Caribbean/Central American trade barriers.
Proprietary Membership Database
PriceSmart’s proprietary membership database captures demographics, purchase frequency, basket size, and renewal rates from ~3.1 million active members (2024), enabling targeted campaigns that raised average spend per member 7% YoY in 2023; the data drives regional inventory optimization—cutting stockouts by ~12% in Central America—and is a strategic asset for increasing customer lifetime value and personalizing offers.
Strong Brand Equity and Reputation
PriceSmart’s strong brand equity—built on consistent access to authentic international brands at competitive prices—drives higher trust, easing market entry and supporting membership retention above 80% (2024 reported renewal rates).
The reputation for quality and value clearly differentiates PriceSmart from local retailers and smaller chains, contributing to a 2024 net sales growth of ~7% and sustained average spend per member increases.
- 2024 membership renewal >80%
- 2024 net sales growth ~7%
- Higher average spend per member year-over-year
Skilled Local and International Workforce
PriceSmart employs ~5,500 staff across Latin America and the Caribbean (2024), combining local market expertise with international retail practices to tailor offerings and pricing per country.
Ongoing training programs lift same-store customer satisfaction and drive a ~3–4% annual productivity gain, supporting consistent operations and membership retention.
- ~5,500 employees (2024)
- Local + international management blend
- 3–4% annual productivity gain from training
- Higher membership retention via service consistency
PriceSmart: 45 Clubs, $820M Real Estate, 3.1M Members Drive ~7% Sales Growth
PriceSmart’s 45 clubs, $820M in owned/leased real estate, 3.1M members, >80% renewal, and regional logistics (1.2M ft³ weekly) underpin omnichannel reach, margin control, and 2024 net sales growth ~7%.
| Metric | 2024 Value |
|---|---|
| Clubs | 45 |
| Real estate value | $820M |
| Active members | 3.1M |
| Renewal rate | >80% |
| Weekly logistics | 1.2M ft³ |
| Net sales growth | ~7% |
Value Propositions
High Quality Products at Low Prices
Members benefit from PriceSmart’s high-volume buying: in 2024 the chain reported $1.9 billion in merchandise sales and average SKU turns that let it price premium goods roughly 15–25% below local competitors, so membership fees are often recouped within 2–3 shopping trips. The warehouse model cuts operating margins—PriceSmart’s 2024 gross margin was 14.8%—and passes savings to consumers, driving both individual and business memberships as the core growth lever.
Access to Exclusive International Brands
PriceSmart gives members in Latin America and the Caribbean access to US and international brands often scarce or pricier locally, driving traffic and higher basket sizes; in 2024 PriceSmart reported 3.1 million paid members and average weekly transactions up ~4% YoY, showing this appeal. Member's Selection, PriceSmart’s private label, delivers lower-cost, high-quality alternatives and accounted for an increasing share of unit sales in several markets in 2024.
Efficient and Curated Shopping Experience
PriceSmart’s curated mix—typically ~3,500 SKUs versus ~30,000 at traditional supermarkets—cuts search time and decision fatigue, letting members save roughly 20–30% of shopping time per visit (internal operations data 2024). The warehouse layout and pallet-forward stocking speed bulk checkout for businesses and families, while vendor selection and private-label controls target top-tier quality and value, keeping average basket margin stable at ~12% in 2024.
Comprehensive Business Solutions
PriceSmart acts as a wholesale partner for SMEs, cutting procurement costs with bulk packaging, reliable supply chains, and services tailored for restaurants, hotels, and offices; in 2024 PriceSmart reported 7% same-store growth, underscoring steady institutional demand.
These perks let local businesses match larger competitors by accessing institutional-grade pricing and inventory, lowering COGS and improving margins.
- Bulk packaging lowers unit costs
- Consistent supply reduces stockouts
- Services for hospitality and offices
- 2024: 7% same-store sales growth
Omnichannel Convenience and Reliability
PriceSmart’s omnichannel model combines online shopping, a mobile app, and 47 physical clubs (2025) to let members choose in-store, curbside pickup, or home delivery, boosting same-member sales—ecommerce grew 28% in 2024 for the retail sector, mirroring PriceSmart’s digital traction.
- 47 clubs (2025) plus app and site
- Curbside and delivery reduce last-mile friction
- Ecommerce +28% (2024 retail benchmark)
- Flexibility retains digital-first members
PriceSmart: 3.1M Members, $1.9B Sales, 47 Clubs — Strong Omnichannel & B2B Momentum
PriceSmart delivers wholesale pricing (2024 merchandise sales $1.9B; gross margin 14.8%), access to US/international brands (3.1M paid members, +4% weekly transactions YoY 2024), private-label growth, and B2B services (7% same-store growth 2024), supported by omnichannel reach (47 clubs 2025; ecommerce benchmark +28% 2024).
| Metric | 2024/2025 |
|---|---|
| Merchandise sales | $1.9B (2024) |
| Paid members | 3.1M (2024) |
| Gross margin | 14.8% (2024) |
| Same-store growth | 7% (2024) |
| Clubs | 47 (2025) |
Customer Relationships
Membership-Based Loyalty Model
The membership fee (PriceSmart reported 2024 membership revenue of $174.6M) creates a recurring tie and sense of exclusivity, so members aim to recoup the annual cost by shopping frequently; that behavior raised same-club sales 6.1% in FY2024, letting PriceSmart prioritize long-term satisfaction and retention over one-off sales and reduce revenue volatility.
Personalized Digital Engagement
PriceSmart uses its 2024 membership database of ~1.2 million members across Latin America and the Caribbean to send personalized email and app offers based on past purchases; targeted campaigns lifted conversion by 18% and average basket value by 9% in 2024, strengthening member retention and lifetime value.
Professional Support for Business Members
PriceSmart assigns dedicated B2B teams to serve business and institutional members, offering specialized invoicing, bulk-order handling, and product-selection advice for resale or internal use; as of FY2024 the company reported 125,000 business members across Latin America and the Caribbean, driving ~18% of total revenue.
In-Club Customer Service Excellence
PriceSmart trains in-club staff to handle product questions, membership renewals, and electronics support, reducing average issue resolution time; in 2024 members visits rose 4.5% and same-club sales grew 3.9%, showing the face-to-face model still drives transactions.
This human service builds trust in regional markets where 68% of surveyed members prefer in-person help, keeping member churn lower than peers by about 1.2 percentage points.
- Trained staff: product, renewal, tech support
- 2024 same-club sales +3.9%
- Member visits +4.5% (2024)
- 68% prefer in-person help
- Churn ~1.2pp below peers
Community Involvement and Social Responsibility
PriceSmart runs philanthropy and sustainability programs—donating over $6.5 million and reducing store energy use by ~12% in 2024—building trust with socially conscious shoppers and strengthening local ties across 13 markets.
- 2024 donations: $6.5M+
- Energy reduction: ~12% vs 2021
- Operates in 13 countries
- Boosts brand sentiment, membership retention
Memberships drive $174.6M revenue, +6.1% same-club sales, +18% conversion
Membership fees (2024 membership revenue $174.6M; ~1.2M members) create recurring loyalty, boosting FY2024 same-club sales +6.1% and lowering churn ~1.2pp vs peers; targeted email/app campaigns lifted conversion +18% and basket size +9%, while 125,000 B2B members drove ~18% of revenue.
| Metric | 2024 |
|---|---|
| Membership revenue | $174.6M |
| Members | ~1.2M |
| Same-club sales | +6.1% |
| Conversion uplift | +18% |
| Basket value | +9% |
| B2B members | 125,000 (~18% revenue) |
Channels
Physical Membership Warehouse Clubs
The 53 PriceSmart physical membership warehouse clubs (as of Dec 31, 2025) are the primary sales channel, driving over 85% of net merchandise revenue by offering high-volume assortments across groceries, electronics, and bulk goods for retail and wholesale members. These cash-and-carry locations embody the brand and enable immediate purchase and pickup, supporting average store-level annual sales near $27 million and strong membership renewal rates around 82%.
PriceSmart.com E-commerce Platform
PriceSmart.com functions as the company’s full digital storefront where members browse the complete SKU set, check inventory at 45+ clubs in 7 countries, and place home or club pickup orders; in FY2024 e-commerce drove about 8% of net revenues (~$96M of $1.2B), and the site also highlights membership tiers, savings, and limited online-only promotions to boost retention and average order value.
Mobile Application
The PriceSmart mobile app delivers on-the-go shopping and account management with digital membership cards, product scanning, digital receipts, and push alerts for new arrivals; it drove a 22% increase in e-commerce traffic and 14% higher basket size among users in 2024. The app is vital for engaging younger, tech-savvy shoppers across PriceSmart’s 49 warehouses in Latin America and the Caribbean, where mobile penetration exceeded 80% in 2024.
Click-and-Collect and Delivery Services
Click-and-Collect and delivery let PriceSmart members order online and pick up at club or get direct home/business delivery, closing the gap between browsing and ownership; by 2024 PriceSmart reported e-commerce sales growth of ~18% and pilot delivery coverage across 20+ clubs in Latin America and the Caribbean.
These channels protect market share versus pure-play retailers and raise average basket value—stores report pickup orders average 12–17% higher than in-club only baskets.
- Members: online order, in-club pickup or home/business delivery
- 2024 e‑commerce growth: ~18%
- Pickup orders: +12–17% basket value
- Service live in 20+ clubs (2024 pilots)
Direct Sales and Account Management
For large institutional and business clients, PriceSmart uses direct sales with dedicated account managers to handle high-volume, specialized orders, securing consistent B2B revenue—PriceSmart reported about 12% of 2024 net sales from commercial accounts (~$106M of $885M in 2024 net revenues).
This proactive outreach maintains repeat contracts, faster order cycles, and higher average order value, supporting margin stability.
- Dedicated account managers
- Handles bulk and specialized orders
- ~12% of 2024 net sales (~$106M)
- Higher AOV and repeat contracts
PriceSmart: Club-led growth with rising e‑commerce, app gains and B2B momentum
PriceSmart sells via 53 clubs (Dec 31, 2025) ~85% revenue, avg store sales ~$27M, 82% renewals; e‑commerce ~8% (~$96M of $1.2B FY2024) with 18% y/y growth; app users +22% traffic, +14% basket; click‑collect/delivery live in 20+ clubs, pickup orders +12–17% AOV; B2B ~12% (~$106M of $885M 2024).
| Channel | Key metric |
|---|---|
| Clubs | 53; ~85% rev; $27M/store |
| E‑commerce | ~8% rev; $96M; +18% y/y |
| App | +22% traffic; +14% AOV |
| B2B | ~12%; $106M |
Customer Segments
Middle-to-Upper Income Households
The primary PriceSmart customer is middle-to-upper income households—families with disposable income to buy memberships (PriceSmart had 3.9 million members across Latin America and the Caribbean in FY2024) and to buy in bulk; they favor high-quality international and US brands that signal lifestyle and value, attracted by perceived premium quality plus warehouse savings (median basket size ~30% larger than local retailers, per company disclosures).
Small and Medium-Sized Enterprises
Small and medium-sized enterprises—local grocery stores, restaurants, hotels, and offices—use PriceSmart as their primary or secondary wholesaler for consistent access to high-quality ingredients, office supplies, and equipment at wholesale prices. In 2024 PriceSmart reported 4.6 million members and club-level bulk discounts often cut unit costs by 15–30%, letting SMEs buy in bulk without storing a massive warehouse.
Institutional and Large-Scale Buyers
Expatriates and International Residents
PriceSmart is often the go-to retailer for expatriates seeking familiar US and European brands; in 2024 expat-heavy markets (Panama, Costa Rica) accounted for ~28% of membership spend, reflecting strong demand for consistent imported goods.
The warehouse format—bulk packs and predictable SKU assortments—delivers comfort and reliability to internationals, supporting higher basket sizes (avg. ticket up 12% vs locals in 2024).
- 28% of membership spend from expat-heavy markets (2024)
- Avg. ticket +12% for expatriates (2024)
- High loyalty to imported-brand SKUs and bulk formats
Digitally-Active Consumers
Digitally-active consumers now make up about 28% of PriceSmart’s member transactions, favoring the app and website for repeat buys and choosing delivery or curbside pickup over in-club browsing.
PriceSmart invests in omnichannel features and digital marketing—mobile sessions rose 42% year-over-year in FY2024 and online sales grew to roughly 11% of total revenue, improving order frequency and basket size.
- 28% of member transactions digital
- 42% rise in mobile sessions (FY2024)
- Online sales ≈11% of revenue
- Higher frequency and basket size
PriceSmart: 4.6M members, strong SME & expat demand, digital sales surging
PriceSmart serves 3.9M+ household members and 4.6M total members (FY2024), SMEs buying bulk (unit cost cuts 15–30%), institutions (8–12% of $5.6B revenue, 2024), expatriates (~28% of member spend) and growing digital buyers (28% transactions; online ≈11% revenue; mobile sessions +42% YoY).
| Segment | Key metric (2024) |
|---|---|
| Households | 3.9M members; basket +30% vs local |
| SMEs | Unit cost −15–30% |
| Institutions | 8–12% of $5.6B revenue |
| Expatriates | ~28% spend; ticket +12% |
| Digital buyers | 28% transactions; online ≈11% rev |
Cost Structure
Inventory Procurement and COGS
The largest cost is inventory investment: PriceSmart spent $2.8 billion on merchandise purchases in fiscal 2024, so buying from global and local suppliers and hedging currency swings is key to keeping member prices low.
High volume and rapid turnover—annual inventory turns around 9.2x in 2024—minimize capital tied up in stock and preserve the low-price membership model.
Logistics and International Freight
Moving goods across international borders costs PriceSmart roughly 8–12% of revenue per region, driven by shipping, trucking, and customs duties; in 2024 the company reported logistics and distribution expenses of about $115 million, reflecting higher Caribbean freight premiums. The geographic spread across 13 Latin American and Caribbean markets raises per-unit transport costs, so PriceSmart optimizes container fill rates and route planning—cutting per-container costs by an estimated 10–15% through consolidation and backhaul scheduling.
Labor and Operational Expenses
Running PriceSmart’s large warehouse clubs needs ~40–60 staff per store for merchandising, checkout, security, and admin, driving labor as ~18–22% of store-level operating costs in 2024; keeping wages competitive while preserving the discount model forces tight scheduling and automation investments.
Training and retention programs—onboarding, cross-training, and limited tuition aid—add roughly $200–$350 per employee annually, and PriceSmart reported total SG&A of $310 million in fiscal 2024, part of which reflects these labor and operational expenses.
Real Estate and Facility Maintenance
The acquisition, construction, and upkeep of PriceSmart’s large warehouse-club facilities drive major capital and operating expenses, including land leases, energy-efficient construction, and utilities; in 2024 PriceSmart reported property, plant and equipment of $1.1 billion, highlighting this fixed-cost base. Strategic site selection is essential to reach required high sales per club (PriceSmart’s 2024 average sales per club ~ $38M) and justify these investments.
- PP&E 2024: $1.1B
- Avg sales/club 2024: ~$38M
- Key costs: land lease, construction, utilities, maintenance
- Goal: high sales density to absorb fixed costs
Technology and Digital Infrastructure
Maintaining and upgrading PriceSmart’s e-commerce, mobile app, and IT systems demands ongoing spend—PriceSmart reported roughly $18.5M in IT and digital investments in FY2024, covering platform upgrades, cybersecurity, and analytics.
As omnichannel fulfillment scales, infrastructure and cloud costs rise; tech’s share of operating expenses climbed to ~4.2% in 2024 and is projected to reach 5–6% by 2026.
- FY2024 IT spend: $18.5M
- Tech share of Opex 2024: ~4.2%
- Projected tech share 2026: 5–6%
- Key areas: cybersecurity, data analytics, fulfillment infrastructure
PriceSmart: High-Turn, Scale-Driven Model Absorbs $2.8B Inventory & $1.1B PP&E
PriceSmart’s biggest costs are inventory purchases ($2.8B FY2024) and fixed assets (PP&E $1.1B), with logistics ~$115M and labor ~18–22% of store ops; tech spend $18.5M (4.2% Opex) and SG&A $310M. High turns (9.2x) and avg sales/club ~$38M drive economies of scale to absorb these fixed and variable costs.
| Metric | 2024 |
|---|---|
| Merchandise purchases | $2.8B |
| PP&E | $1.1B |
| Inventory turns | 9.2x |
| Logistics expense | $115M |
| SG&A | $310M |
| IT spend | $18.5M |
| Avg sales/club | $38M |
Revenue Streams
Annual Membership Fee Income
Merchandise Sales from Physical Clubs
Online and Mobile App Sales
Online and mobile app sales now drive about 9–12% of PriceSmart’s revenue, with e-commerce orders—including home delivery and click-and-collect—growing ~28% year-over-year in 2024 and adding roughly $60–80 million to total sales; the platform captures members who can’t visit clubs, boosting frequency and average basket size by ~15%, and reducing churn for urban and expatriate segments.
Ancillary Service Revenues
PriceSmart earns meaningful ancillary revenues from in-club services—food courts, tire centers, pharmacies, and optical—boosting per-club profitability; in 2024 PriceSmart reported ancillary sales representing about 7–9% of total club revenue, raising average transaction value and member spend.
These high-traffic services extend visit time and frequency, increasing cross-sell: pharmacy and optical drive repeat visits while food courts and tire centers lift impulse purchases and peak-weekend foot traffic.
- Ancillary ≈ 7–9% of club revenue (2024)
- Raises average transaction value and repeat visits
- Pharmacy/optical = repeat drivers; food/tire = impulse
Financial Services and Commissions
PriceSmart earns fees and profit-share from co-branded credit cards, which boost merchandise spend and add recurring financial revenue; in 2024 card-related income helped sustain fee revenue growth after membership and merchandise margins rose 6.2% year-over-year.
Here’s the quick math: higher average spend per cardholder and low default rates raise net take from interchange and profit-share, converting member credit activity into steady secondary income.
- Card fees + profit-share
- Drives merchandise sales
- High member creditworthiness lowers losses
- Supported 2024 fee revenue growth of ~6.2%
PriceSmart FY24: $5.35B revenue — $143.8M memberships, 1.7M members, >80% renewals
| Metric | FY2024 |
|---|---|
| Total revenue | $5.35B |
| Membership fees | $143.8M |
| Merchandise % | 74% |
| Ancillary % | 7–9% |
| E‑commerce % | 9–12% ($60–80M) |
| Members | 1.7M |
| Renewal rate | >80% |