Mary Meisenzahl/Insider
- Sam's Club has grown its Gen Z membership by 68% in the past two years, CEO Chris Nicholas said.
- While the main attraction is low prices, the real difference for the club is its tech, he said.
- That could spell trouble for Costco, which lags far behind when it comes to digital innovation.
Long a mainstay for boomers and Gen X shoppers, warehouse clubs increasingly have a new set of fans: Gen Z.
"That generation believes it's cool to save money and we agree with them," Sam's Club CEO Chris Nicholas told CNBC last week.