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> you're not allowed in the building without a membership

I wonder why other stores like Target don't do that as well. Beyond the obvious, it just seems like the way to go.

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Walmart does, under the Sam's Club brand, and there's a handful of other regional ones. Conventional wisdom is that the market reached saturation in the 90s. There's a lot of people who just don't want to pay a membership fee.
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Just have the fee be $0 then. Beats having the shelves be all locked up because people be stealing everything.
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