…by David Wilma, HistoryLink.org
On September 15, 1983, the first Costco discount warehouse opens on 4th Avenue S in Seattle. The warehouse offers food, appliances, clothes, office supplies, and other goods at prices below general retail levels. The company is headquartered in Issaquah.
The warehouse concept was pioneered by Price Club in San Diego in 1976. Jeff Brotman and former Price Club executive Jim Sinegal founded Costco and offered small businesses, such as restaurants and gas stations, the opportunity to buy a limited variety of food, tires, cosmetics, and other goods at 8 to 9 percent over wholesale. Later, the market was expanded to include retail customers. The self-service warehouses offered only about 4,000 items and didn’t advertise. Members typically paid a $25-$35 annual membership fee…