Which Store Has Better Prices: Amazon or Costco? Data Driven Study via LendEDU.com 1 of 3!
Do you wonder where to get the best bargains when you are shopping? I am a known bargain shopper. I will double and triple check prices online via computer or mobile before I buy a ton of stuff. I know my prices on food and I know my prices on lots of other things like beauty products, fashion, some electronic categories too, but sometimes I make mistakes just like everyone else.
LendEDU has released this very interesting data-driven study comparing prices of Costco versus Amazon. EXCEPTIONALLY timely, and I found that some of my “bargain shopping” habits were on the money, but.. I also found a few categories where I totally blew it. Wow!
This is a long infographic and I want to run the graphics in pieces as they review different purchases and products. So this is a multi-part study/post. The insights are amazing and there are balances to be adjusted depending if your goal is to save money – even if it requires more time and effort on your part or if you want some ease with finding – and getting- the product you want or need without having to run all over town.
This data and all the graphics and information is courtesy of LendEDU.com. This is not my doing- but I know solid and useful information when I see it. I want to express my gratitude to LendEDU for providing me with this opportunity to share it with you!
In the battle of two retail titans, Costco and Amazon, who wins?
Both companies operate under the same guiding principle of “subscribe and save,” but they have risen to the top of retail via two different paths.
Costco, a brick-and-mortar giant, boasts 741 stores globally, 90 million members, and 231,000 employees. While the company did do $3.4 billion in e-commerce sales in 2015, that same year it did $109.6 billion in brick-and-mortar sales, its bread and butter.
Amazon, the king of online retail, is attributed for capturing 33 percent of all U.S. online purchases in 2015 and 43 percent in 2016!
The ability to save the consumer money has driven the astronomical success for both Costco and Amazon, but which saves you more money?
Taking matters into our own hands, LendEDU went shopping at a physical Costco store in Long Island City, New York and browsed Amazon Prime to compare the prices on 38 identical, commonly-bought items.
Once and for all, we wanted to squash the great debate:
Does Costco or Amazon save the consumer more money? Keep going to see what we discovered.
The key findings:
If all 38 items were purchased at the exact same time, buying off Amazon would be 12.10% more expensive than shopping at a physical Costco store
On average, Amazon items were 56.48% more expensive than the identical items at the Costco store
The most narrow price difference was with technology products, and Beats 3 wireless earphones were actually 21.12% cheaper on Amazon
The widest price difference that favored Costco was with food and beverage products that, on average, were 120.15% cheaper at Costco
This is a study that everyone wants to hear about. Its fun, extremely topical, and perfectly timed up as people begin holiday shopping.
Full Results From LendEDU’s Costco vs. Amazon Shopping Experience
After shopping at a physical Costco Wholesale location and browsing Amazon for 38 identical items, LendEDU found that, on average, products on Amazon are 56.48 percent more expensive than the same goods found at the Costco store.
If a consumer was to buy all 38 items that we analyzed in one fell swoop, he or she would find that the total price from buying on Amazon would be 12.10 percent more expensive than going to Costco and purchasing the same items.
The table below outlines each of the 38 items that were browsed, the price of each item at both Costco and Amazon, and the price difference of each item when the Amazon price is compared to the Costco Wholesale price.
This is the end of part 1. There will be another part on Friday, the third part on Sunday. If I find I have more to post, there will be another post after that if necessary!!
This is really very interesting to see all the details in one shot.
If you want to see all of this information immediately, check out LendEDU at this url: https://lendedu.com/blog/costco-vs-amazon/
Thanks again to LendEDU.com for providing me access to this study and gratitude to them for allowing me to share it all with you!
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