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Why COSTCO Rules in Hearing Aids (what? what did you say?)

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Via: Bloomberg Businessweek

Costco Wholesale (COST) highlighted a number of hot products in its monthly sales call this morning. Its frozen food, beauty products, and gasoline are going gangbusters, according to executives. So are its hearing aids.

Those on the line may have been checking their ears. Surely they meant Hot Pockets or hand warmers.

We followed up with Richard Chavez, Costco’s senior vice president in charge of ancillary businesses, to see just how much hearing-aid revenue the wholesaler was talking about. “A lot,” he says with a laugh. “We’re now one of the largest—if not the LARGEST—hearing-aid distributors in the market, but I really don’t want anyone to know that.”

Turns out, in the past four years, Costco’s hearing-aid sales have grown 26 percent a year on average, according to Chavez, who expects another 19 percent gain this year.

The company has hearing-aid centers in every country in its footprint and almost every U.S. store. It’s also ramping up a program to help its employees become licensed hearing-aid “distributors,” a process that can take as long as two years, depending on the state.

Some 125 Costco workers are now in hearing-aid training. (WHAT?!!!)

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Read more, HERE:

http://www.businessweek.com/articles/2013-07-11/why-costco-rules-in-hearing-aids-dot-as-well-as-gummie-bears

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btw: I LOVE Costco!

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July 14, 2013 - Posted by | Uncategorized | , , , , ,

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