Fewer choices. Bigger packs. A reason to renew. PriceSmart took the warehouse club south - and built a business around the discipline of leaving things out.
A warehouse full of bargains runs on a surprisingly small menu. Costco turns that restraint into buying power, then asks members to come back for another year.
Sam Walton's bulk-buying experiment has become a $93 billion retail laboratory. Its sharpest idea is wonderfully mundane: give members their time back.