New reports reveal that Americans have started panic buying again. People are noticing that shortages are getting worse, and shelves are getting increasingly emptier as we approach the last quarter of 2023. Some have decided to act now before they can no longer find household supplies and their favorite items at their local stores.
Many shoppers are buying in bulk to try to save on costs and stock up for the future, and they’ve been flocking to Costco in search of good deals. But in the past few weeks, it seems that a large number of items are sold out at Costco warehouses, and new price markups are shocking customers who revealed increases of up to 250% on Costco products, according to a recent analysis of consumer complaints.
For that reason, in today’s video, we tracked which supplies faced the biggest price hikes at Costco stores over the past month, and we shared the latest warning from the company’s CFO Richard Galanti about the future of the U.S. economy.
A new analysis shows that the main reason for the company’s disappointing sales numbers: Soaring prices at the retailer’s warehouses. And some loyal customers, who pay a membership fee that can typically go from $60 to $100, are outraged with recent price markups. The megaretailer says that higher operational costs and commodity prices are affecting prices in all industries, but especially the grocery sector.
Americans are noticing a lot of sold-out notes on Costco shelves in the past few weeks. Shortages of household supplies and basic grocery items seem to be rapidly spreading across Costco warehouses. However, most of the complaints have been published by shoppers that just can’t believe the price hikes they’re seeing at their local stores. One major example of this was the 250% increase in the price of 40-packs of Kirkland-branded water bottles. One Redditor reported that the bulk buy, which cost $1.44 as recently as a year ago, now costs $4.99.
“Yeah that used to be the case at the beginning of the year, just checked yesterday, and $4.99, ridiculous,” user u/ghx16 wrote.
User jasonsparks19 said that crab legs have more than doubled in price over the past year: “King crab legs went from $23/lb to $48/lb.”
That’s a 110% increase. It has been difficult for shoppers to find chicken nuggets in stock at Costco, as they are often sold out in the frozen section due to the high demand. They used to cost $13 for a four-pound bag, but are now going for $19.99, causing some customers to express their displeasure with the price hike on Reddit.
“I saw them today for the first time in a while too. My jaw dropped when I saw the price and I kept walking,” a commenter said.
When even affordable chains are losing customers due to rising prices, then you know something must be broken in our economy. At this point, prices should be going down, but that’s not what we’re seeing when we go shopping. At the end of the day, Costco is not the only retailer raising prices right now, and certainly, it is not the only one facing financial losses and declining sales.
This situation is just a symptom of a much larger issue that is going to accelerate as we reach the final stretch of 2023. And you too should start preparing for the recession that has only just begun.
Article and video cross-posted from Epic Economist.
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A 40 pack of 16.9 ounce water bottles for just $ 1.44 is a JOKE. I’ve been buying water for years and there is no way that a $ 1.44 price ever existed. $ 4.99 is a very realistic price and maybe it might have been in the low 4’s or high 3’s.
I agree
$1.44 was fairly normal for a long time.
The Joebot changed all of that.
No Ms. Yates……
I have been buying COSTCO water for 20 years and the price was $2.99 for the 40 pack for at least the last decade up until the ‘COVID-Con” game was unfurled.
The price is now $3.99, I just bought 4 of them yesterday
I’m more worried about the price of toilet paper than the price of stupid bottled water.
And then there’s……Oxi-Clean laundry booster. My wife has been using it for 20 years and the box is now about half the size it was 20 years ago….it is comical. ‘Shrink-flation ‘ at its finest.
Inflation in Russia is only 1.5%. You might want to buy the new BRICS gold-based currency when it comes out soon.
Crab legs, a favorite for civil defence suppers once a week..
A cup of powered white wine.
Some powdered potatoes.
Some powdered veggies
Some lemon powder
***
Glass of powered skim milk
A twinky
Yup its all about survival. Pass the TP
Let’s not forget 4 globalist owned public relations control all news media. They have been using AI to feed us fear porn including I’ve noticed many “conservative” news articles. I agree with Mr. Schrader $1.44 for a case of water is like a gallon of gas for $.35… WTH are you talking about? We were recently in a Costco and while a few items were out the store was well stocked. BTW the last panic for food IMHO was to clear all inventories of food to introduce foods containing “ bioengineered ingredients.” Think about it… now what are they really planning this go around?
While it’s obvious Biden’s economy blows, as does the doddering old clown himself, picking three commodities to suggest a panic isn’t rational. Has the cost of water gone up? It’s not because of a shortage of water. Distribution issues, perhaps. It’s summer and it’s hot out. Maybe just a temporary increase in demand.
Lobster? Really? I don’t know what’s up with the lobster industry, but a niche luxury food isn’t an indicator of wider problems.
I also don’t know what’s up with chx nuggets, and changes in the chicken industry would be a big deal. But other chicken products are not following a nugget price increase. It appears, like bottled water, that some localized disruption is a more likely culprit.
Tyson Foods Inc. is closing four chicken processing plants as it looks to lower costs.
The company said Monday that the plants being closed are located in North Little Rock, Arkansas; Corydon, Indiana; Dexter, Missouri and Noel, Missouri.
Tyson chicken is and has been junk for the last 30+ years.
This is really sloppy reporting. Costco didn’t report a 250% increase….some jerk on REDDIT did….and then you guys write a stupid click-bait headline say COSTCO reported it.
You should delete this story here and on your Liberty Daily site.
I have a grocery list of same items I regularly buy from WalMart twice monthly. For years, my bill ran averaged $150 for those items. Now the total averages closer to $200. That is about a $100 monthly increase for one person…and that is not “all” my food costs. How are seniors on fixed incomes and people with families managing?
As someone living on social security, I’m not actually “making it.” Now Medicare just stopped paying for meds I’ve been on for decades. I weigh 100 pounds and get $23 a month for food. I am reconciling myself to the fact that they want us dead and off the rolls. This is my own money taken involuntary my whole working life. Now they’re making room for millions of illegal immigrants. They’re not going to like the reality much either.