If you thought artificial intelligence (AI) has a sizable addressable market, take a gander at the retail industry. Based on estimates from Mordor Intelligence, the global retail industry will grow from an estimated $27.3 trillion this year to about $36.9 trillion by the turn of the decade.
With an addressable market this massive, it should come as no surprise that retail is one of the most competitive industries on the planet. However, there are a handful of retail standouts, including e-commerce giant Amazon, superstore chain Walmart, and of course warehouse club Costco Wholesale (NASDAQ: COST).
While Amazon and Walmart have (mostly) grown their respective businesses traditionally, Costco is the oddball of the bunch. It’s known for its quirky deals, such as the $1.50 hot-dog combo for members, generous return policy, and its penchant for selling one-of-a-kind and unexpected items, such as gold bars and luxury jewelry.