Costco has a brilliant strategy that allows it to pay workers $15 an hour
Costco gets some of the best press in America.
"12 Reasons To Love Costco, As If You Needed More," HuffPost reports. "Costco Was Named The Best Company To Work For, Because Duh," reads a Delish headline. Chef Samin Nosrat name-dropped Kirkland Signature organic extra-virgin olive oil in a recent Seattle Times interview, while Consumer Reports celebrated the chain's dishwasher pacs.
In the last month alone, Business Insider has published "9 times when Costco is better than Amazon," "Warren Buffett explains how Costco is dominating in one crucial area," and "Millennials are obsessed with raising plants, and Costco is poised to capitalize."
Most American retailers would spend millions of dollars to plant this type of coverage, with a barrage of commercials and press releases highlighting companies' achievements. Clearly, the budget retailer's public relations team deserves a raise.
However, Costco doesn't have a PR team at all. And, while rivals spend billions on ads, the company spends nothing on advertising.
Why Costco believes advertising is evil
"We consider [advertising] evil," Costco cofounder Jim Sinegal told The Motley Fool in 2013. "Because it costs money; anything that is going to raise our price on merchandise is bad. We've got to have that type of an attitude."
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