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I am not quite sure of the comparison. Bunnings are a hardware store whereas Costco stock food and general merchandise. I am a member of Costco, but it is a 40 minute drive away, compared to 5 minutes for Bunnings.With Bunnings being pricey and with you in Melbourne I would go to Costco to see what stock they have first. You may as well save a real chunk.
I will be visiting a Costco store in about 9 weeks in Los Angeles.
Bunnings have dropped about 700 vendors from their range so if you cannot find your favourite items go to the other guys to get it.