Costco members have great taste -- the wholesale club's signature combo of low prices and quality stock simply can't be beaten. Maybe that's why the average Costco shopper drops $3,000 per year on Costco products, according to consumer data company Numerator.

That checks out. But how else do savvy Costco shoppers go about their business? Numerator breaks down Costco shopper habits even further. Keep reading to find out how you compare to fellow shoppers, plus confirmation that Costco is home to smart buyers.

The average Costco shopper spends $250 per month

Broken down, the average Costco member is implied to spend an average of $250 monthly on Costco products. That checks out. It's two weekly trips with a $100 budget, plus an extra $25 for random last-minute stuff that you only knew you wanted when you saw it.

What kind of people shop at Costco: According to Numerator, Costco shoppers make good use of their club cards. Costco people spend 70% more on club products (i.e., products sold by clubs like Costco) than your typical shopper. Seems Costco fans are committed.

Costco fans are so committed, many members splurge for the Executive membership. On the March 2024 earning call, now-former Costco CFO Richard Galanti said 46% of members were Executive members, meaning they spent $60 extra on a Costco membership for perks like 2% back on purchases.

Fun fact: Costo shoppers are slightly less likely to be impulse buyers than your average shopper, according to Numerator. Love that. If you need more confirmation that Costco is home to smart shoppers, this is it.

Right now is a good time to buy from Costco

Costco is known for its low prices, quality brands, and bulk products. But right now may be an especially good time to buy from Costco.

On the March 2024 call, Galanti said Costco was "taking price reductions where we can" and "want to be the first out there trying to lower prices." Galanti listed price drops on reading glasses, Kirkland batteries, and frozen fruit. That's good news for shoppers concerned about inflation eating into their budget. Costco is tough to beat in the "how low can you go" game.

Speaking of inflation -- Costco.com shoppers especially like Costco gold bars. Gold is a common inflation hedge. With inflation on the rise as of the latest March inflation report, it's a legitimate concern. That said, the Consumer Price Index indicates grocery inflation is actually meager compared to high prices on everything else -- once again, great for your average Costco member.

What's coming next for Costco members?

Costco is bringing more Costco Next products to customers. Costco Next connects you with brands backed by Costco. So you, the Costco member, get special lower prices on quality brands, even though Costco does not handle shipping and handling and you buy directly from the brand. In short, you get more options.

Galanti said there were 70 partnered brands on Costco Next as of March. Costco aims to have another 20 listed by the end of 2024. If you're a member, it's worth checking out the Costco Next website. It might be partnered with one of your favorite brands, and you could get discounts.

The average Costco shopper supplements their regular grocery spending with Costco products. It's a great way to buy bulk products (and affordable rotisserie chicken). Not a Costco member? Check it out. If a member of your household has a membership, you can shop with them for free.

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If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period.

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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

Here's What the Average Costco Shopper Spends per Month. How Do You Compare? was originally published by The Motley Fool