What I knew before visiting REI
Intro and Expectations
As I had just mentioned, I had no real knowledge of REI and what they do. Upon doing a quick bit of research, I found that they were a prominent outdoor retailer in America. This piqued my interest for this visit, for I was curious how a company with such strong environmental roots carried themselves in this rather tumultuous time period for outdoorsy types. Would they embody similar views as Patagonia? I was eager to find out.
Visit
At REI (which stand for Recreational Equipment Inc.), the customer and environment clearly comes first. As the speaker told us, REI is a company that is devoted to forming long-lasting relationships with its customers through loyalty packages and environmental awareness. REI is a co-op, which means that it is not privately-owned, and that customers can have a significant impact on the company they love. To become a member at REI, and in turn, a part of their co-op, one must just pay $20. As a result, they will receive a portion of the co-ops profits based on a percentage of their eligible purchases. Last year, members received nearly $117 million in dividends. Not many companies out West choose to be co-ops, but the idea is very interesting. In times of economic turmoil, customers only want to invest and purchase from a brand they trust. When customers are literally getting profits from a brand such as REI, it can foster a positive relationship that can overcome turmoil. More companies should consider becoming a co-op in times of turmoil, for I feel companies such as Uber could get a leeg up on the fast-approaching Lyft.
As explained to us by our speaker, Kate Compton, REI offers a variety of outdoors classes for its members, as well as a wealth of online deals and hiking tips, all in an effort to disconnect them and lead them outside in nature. REI gives back nearly 70% of its profits to either environmental groups, its customers, or various other charities. This generosity is extended to its employees as well. REI has been chosen on Fortune Magazine’s “Top 100 Places to Work” every year it’s been in circulation. This is largely in part to its encouragement of its employees to practice what they preach. Twice a year, REI employees get a paid day off to go outside and do something to connect with nature. Our speaker mentioned how this was a great relief to her, for she got to use these days at her will. Whenever employees feel stressed, this day of relief can act as a welcome break. We are living in a time where the government is not offering much support for the environment, so REI has made it a point to be a champion of the outdoors. Initiatives such as this and their desire to slash emissions are key steps that they have proudly taken to combat the complacency of the federal government on this issue. I feel like this only strengthens their image as a company that views profits secondary to providing for nature.
Overall, REI seems like a company that is conscious of the times we are living in and is actively trying to better the world around them. From their plentiful donations to their nearly 50/50 male-to-female employee ratio, REI seems, moreso than any other company on this trip, the most well-equipped to deal with today’s times.
Post Visit Actions
I was interested in what REI was all about so I did some more research on them. The presentation they gave us was not just lip service, for reviews on Glassdoor and Yelp from random consumers and former employees provided a glowing review of the place as well. Employees claimed it to be a great place to work and the customers are as loyal as the statistics made them seem. REI is a company to look at in the future, for they seem to have the right formula in place.
Key Takeaways
- Honestly, not much. I had heard of the company before, but had no real knowledge of the field they occupied. This was going to be a wholly new experience for me.
Intro and Expectations
As I had just mentioned, I had no real knowledge of REI and what they do. Upon doing a quick bit of research, I found that they were a prominent outdoor retailer in America. This piqued my interest for this visit, for I was curious how a company with such strong environmental roots carried themselves in this rather tumultuous time period for outdoorsy types. Would they embody similar views as Patagonia? I was eager to find out.
Visit
At REI (which stand for Recreational Equipment Inc.), the customer and environment clearly comes first. As the speaker told us, REI is a company that is devoted to forming long-lasting relationships with its customers through loyalty packages and environmental awareness. REI is a co-op, which means that it is not privately-owned, and that customers can have a significant impact on the company they love. To become a member at REI, and in turn, a part of their co-op, one must just pay $20. As a result, they will receive a portion of the co-ops profits based on a percentage of their eligible purchases. Last year, members received nearly $117 million in dividends. Not many companies out West choose to be co-ops, but the idea is very interesting. In times of economic turmoil, customers only want to invest and purchase from a brand they trust. When customers are literally getting profits from a brand such as REI, it can foster a positive relationship that can overcome turmoil. More companies should consider becoming a co-op in times of turmoil, for I feel companies such as Uber could get a leeg up on the fast-approaching Lyft.
As explained to us by our speaker, Kate Compton, REI offers a variety of outdoors classes for its members, as well as a wealth of online deals and hiking tips, all in an effort to disconnect them and lead them outside in nature. REI gives back nearly 70% of its profits to either environmental groups, its customers, or various other charities. This generosity is extended to its employees as well. REI has been chosen on Fortune Magazine’s “Top 100 Places to Work” every year it’s been in circulation. This is largely in part to its encouragement of its employees to practice what they preach. Twice a year, REI employees get a paid day off to go outside and do something to connect with nature. Our speaker mentioned how this was a great relief to her, for she got to use these days at her will. Whenever employees feel stressed, this day of relief can act as a welcome break. We are living in a time where the government is not offering much support for the environment, so REI has made it a point to be a champion of the outdoors. Initiatives such as this and their desire to slash emissions are key steps that they have proudly taken to combat the complacency of the federal government on this issue. I feel like this only strengthens their image as a company that views profits secondary to providing for nature.
Overall, REI seems like a company that is conscious of the times we are living in and is actively trying to better the world around them. From their plentiful donations to their nearly 50/50 male-to-female employee ratio, REI seems, moreso than any other company on this trip, the most well-equipped to deal with today’s times.
Post Visit Actions
I was interested in what REI was all about so I did some more research on them. The presentation they gave us was not just lip service, for reviews on Glassdoor and Yelp from random consumers and former employees provided a glowing review of the place as well. Employees claimed it to be a great place to work and the customers are as loyal as the statistics made them seem. REI is a company to look at in the future, for they seem to have the right formula in place.
Key Takeaways
- Grooming and maintaining customer loyalty is the key to establishing a successful brand
- The outdoor-based company gives back to the environment
- Employees are encouraged to embrace nature