Costco Wholesale is set to increase its annual membership fees for US and Canada customers for the first time in seven years, starting September 1. The memberships offer a range of benefits including discounts on various items and an annual 2% reward on qualified purchases. The fee for "gold star" and business members will rise by $5 to $65, while executive members will see an increase to $130 from the previous $120. The maximum reward for executive members will also increase to $1,250 from $1,000. This change will impact around 52 million members, with over half falling into the executive category. The market has been anticipating this hike, and analysts predict it will provide a boost to revenue and stock performance. Membership fee revenue had already seen a 7.6% increase in the third quarter, demonstrating the importance of these fees to the company's overall revenue.