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Rising Fuel Prices Triggers Sales At Retail Clubs

Higher fuel prices assisted sales at leading US wholesale retail clubs in the latest quarter, as US shoppers sought discounts amid growing signs of inflation.

Cost-conscious consumers took advantage of the opportunity to buy goods in bulk. Customers have been utilising their memberships to purchase cheaper gas at a time when prices have been surging across the world. Costco said that its net sales rose 11% to $20.45bn during Q2.

BJ’s CEO Laura Sen said visits to its stores had been rising along with the increase in petrol prices and lifting sales.

“We also see that we’ve got some improved performance in member sign-ups versus a year ago, in clubs that have gas,” Ms Sen said. “We see this as one of our best marketing tools, especially in a rising-price environment.”

SpendingPulse, a retail data company, projects that February sales growth will be slower than previous months, as rising petrol prices divert purchases from other products such as clothing and furniture.