Are Millennials killing Costco? Possibly, if wholesale retailers don’t adapt to the digital age—and fast. Bulk buying is shifting online because Ain’t Nobody Got Time for That; more than two-thirds of households have Amazon Prime while up-and-comers like Boxed are claiming mostly Millennial shoppers. “Costco has been one of the least digitally forward companies out there,” explained one analyst, and unfortunately for them, “Retail is a zero-sum game: As consumers shop more at one company, they’ll shop less at another.” However, Costco is making moves to modernize, from in-app payments to in-store pickup and more. (Washington Post)
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