Costco is thriving amid tough economic challenges

Numerous retail executives have continually reiterated how tough economic conditions continue to strain consumer budgets, leading to dampened discretionary spending and prompting companies to cut prices just to drive in-store and online traffic. 

However, recent data from Placer.ai shows Costco had a boost in visits during the first quarter, with traffic up 8.9% year over year. In February, visits were up 10.9%. Over the next two months, visits were up 10.5% and 9.2%, respectively, compared to the same time a year ago. 

Regardless of what’s happening in the macroeconomy, the company continues to consistently increase traffic and its market share, UBS analysts wrote in a research note led by Michael Lasser.