Costco Recession Signal Resurfaces as Beef Prices Hit Record Highs
During Costco’s May 2023 earnings call, I noticed a really interesting trend. Our CFO, Richard Galanti, pointed out that customers are starting to move away from buying beef and opting for more affordable protein options like canned chicken and tuna. This shift reminded me of similar patterns we saw during economic slowdowns in 1999, 2000, and again between 2008 and 2010. It suggests consumers are becoming more price-conscious and adjusting their purchasing habits.






