Part 2/10:
When Costco opened its doors in 1983, the company's approach was straightforward: offer a limited selection of high-quality name brands and sell them in large quantities. This model led to a relatively small inventory of about 4,000 items, starkly contrasting with typical retailers' expansive offerings of up to 140,000 products. Yet the rising costs of these name-brand products, driven by the manufacturers' need to satisfy Wall Street, presented a significant opportunity for Costco.