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How to use your Costco membership to get discounts on Instacart, Uber and DoorDash
Costco members are now able to snag a great deal on Instacart, Uber, DoorDash and other brands.
The wholesale retailer has long offered third party gift cards at discounted rates, but is now offering them for several food delivery services.
Gift cards for the three businesses are currently selling for $79.99 for a $100 value, a roughly 20 percent discount, according to investment firm Oppenheimer.
Including new businesses in Costco's gift card lineup is part of a broader effort to improve its non-food offerings.
Costco has also recently added the likes of Nike clothing, Dyson hairdryers and Hydro Flask water bottles to its in-store offerings.
Costco has introduced new businesses to its gift card line up
The warehouse-based chain also sells gold bars in this category, which account for around $200 million in monthly sales, according to Wells Fargo analysis.
Costco's non-food business grew in both June and July, with expectations this will continue, according to Oppenheimer.
'We continue to see improvements in the quality of Costco's treasure hunt from stronger brands in apparel/consumer durable offerings to a more powerful assortment of discounted gift cards in store,' analyst Rupesh Parikh Parikh told clients.
'In a mixed discretionary backdrop lately, we believe this has contributed to a meaningful improvement in non-foods category trends and the company's standout performance.'
Costco gift cards may seem like a good deal but if you change your mind they are non-refundable.
The store also offers its own store gift cards, which can be a great gift for non-members.
Costco gift cards can be purchased by any existing member but spent by anyone.
Gift cards can be purchased in person at stores or on the Costco website.
Costco gift cards are also non-refundable to the purchaser and cannot be exchanged for cash.
However, they can be used for any purchase in the stores from groceries to electronics.
Including new businesses in Costco's gift card lineup is part of a broader effort to improve its non-food offerings
The store also offers its own store gift cards, which can be a great gift for non-members
As well as improvement in its non-food sales, Costco's stock, which is up more than 37 percent this year, also benefitted from news of is membership price hikes.
In September the chain's standard membership will go up by $5 a year taking it from $60 to $65, the first increase since June 2017.
The Executive level - which offers a 2 percent rebate on all Costco purchases made that year up to a total of $750 - will increase by $10 to $130 a year.
In the three months ending ending February 18, Costco generated $1.11 billion in membership fees - that was almost 2 percent of its total revenue for the quarter.
It means Costco nets around $4 billion-plus a year from the fees - a figure that will likely go up with the increase.