CIBC Costco Mastercard (3% Costco) on $6,000 Costco spend
$180
Executive membership 2% rebate on $6,000
$120
Gas savings (5¢/L × 1,500L/year)
$75
Bulk savings vs grocery store
$750–$1,200
Total potential annual savings
$1,125–$1,575
Net savings after $130 Executive fee and $65 Costco membership: $930–$1,445/year.
Costco vs grocery store: real savings breakdown
Category
Costco unit price
Grocery store price
Savings per unit
Kirkland toilet paper (30 rolls)
~$25
~$35–$40 equivalent
$10–$15
Kirkland olive oil (3L)
~$18
~$28–$32 equivalent
$10–$14
Free-run eggs (2 dozen)
~$9
~$12–$14
$3–$5
Kirkland laundry detergent
~$20
~$30–$35 equivalent
$10–$15
Kirkland salmon (1.8kg)
~$25
~$40+ equivalent
$15
Prices vary by location and season. Savings are most consistent in non-perishable categories where bulk packaging provides a genuine cost-per-unit advantage.
Frequently asked questions
Is the Costco Executive membership worth the extra $65 in Canada?
It depends on your annual spend. The Executive membership pays 2% back on most Costco purchases. To break even on the $65 premium, you need to spend approximately $3,250 at Costco per year. For families who regularly shop there for groceries, gas, and household goods, $3,250 is easily exceeded and the Executive tier typically pays for itself.
Can you go to Costco without a membership?
In Canada, you need a Costco membership to enter and shop. Exceptions: Costco pharmacies are accessible without membership in some provinces. You can also enter with a member who accompanies you. Some Costco gas stations require membership.
Does Costco price-match in Canada?
Costco does not price-match competitors. However, it does offer a price adjustment within 30 days of purchase if the item’’s price drops at Costco. This is called the Costco price protection policy — bring your receipt and ask at the membership desk.