I’ve shopped at Costco since forever. I remember when it used to be called the Price Club; we called it the $100 Club (inflation-adjusted: $200 Club).
But people used to laugh when I told them I shopped at Costco. “Hahaha! Yeah, I guess if you want a lifetime supply of toilet paper, dude,” they’d say without even attempting to hide the scorn in their voices.
Well, with commodity prices soaring, people are starting to come around to the idea. Today’s Wall Street Journal reports:
Even as rising food prices have triggered protests in developing countries, Americans are rediscovering the economic virtues of a well-stocked food pantry and storage freezer, and embracing discount and wholesale retailers for cut-rate meals.
Stockpiling staples such as rice, meats and canned soup is coming into vogue again as food inflation and $3.60-a-gallon gasoline have consumers cutting the frequency of shopping trips — and loading up carts when they do shop. Sometimes shoppers are prodded by fears of impending food shortages, though none have yet materialized in the U.S.
Well I have a lifetime supply of a lot of things, DUDE, and I don’t have to worry about barehanding it anytime soon. So there! Face!
Source:
As Food Prices Rise, Shoppers Stock Up
Gary McWilliams and David Kesmodel
The Wall Street Journal