Despite the domination of mega-retailers like Amazon and Walmart, Costco wholesale club is thriving. They’ve posted seven percent growth the past year, e-commerce is growing, and worker satisfaction is off the charts.
How do they do it? A smart, emotionally intelligent approach, says Justin Bariso, who studied Costco’s success and wrote about it in this article.
From pay raises, to flexible work hours, to paid parental leave, a people-centered culture is priority number one.
Giving customers what they want is Costco’s obsession. Whether it’s the carefully chosen but limited selection of just the most desired items, or their liberal return policy, keeping customers happy is what matters.
This isn’t rocket science. Yet it’s refreshing to see examples of successful large companies doing the right thing.
What is your secret to business success? Can you narrow it down to one or two things? I’d love to hear your answer.
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