The so-called Costco Effect is a phenomenon that boosts the wages of local economies as companies aim to compete with Costco's (NASDAQ:COST) wages, as defined by the "Micro" YouTube channel.
"Surrounding businesses raise wages up to 40% more," the video said.
Costco's ability to help local businesses is shocking when you compare it to Walmart (NYSE:WMT). While "Micro" discusses the Costco Effect, it also touches upon the Walmart Effect, which demonstrates how a big box retailer can destroy a local economy.
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"Surrounding businesses raise wages up to 40% more," the video said.
Costco's ability to help local businesses is shocking when you compare it to Walmart (NYSE:WMT). While "Micro" discusses the Costco Effect, it also touches upon the Walmart Effect, which demonstrates how a big box retailer can destroy a local economy.
Don't Miss:
Fast Company Calls It a ‘Groundbreaking Step for the Creator Economy' —
20 days ago
