Wall Street has some concerns about Costco's (NASDAQ: COST) business. The warehouse retailer is seeing a sharp demand pullback in consumer discretionary categories like electronics and home furnishings as shoppers have become more cautious in their spending.

On the bright side, Costco's shopper traffic levels are still rising, even if members are spending less money during each visit. But the retailer's customer satisfaction is also at an all-time high, as evidenced by its record renewal rate.

Let's take a closer look at this positive trend bolstering Costco's business in 2023.

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Source Fool.com