REI's Weird Business Model 🏕️

REI's Weird Business Model 🏕️

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WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.

PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!

⏱️ Timestamps:
0:00 - Start Here

[saeedhossain]

founders took the company in the direction of consumer and employee equity rather than go cap in hand to wall street to float and take the windfall, I'd consider that a respectable decision.

[selewachm]

Purchased my membership in the 70's. I still get comments when they ask for my membership number. I remember when it was a real co-op, but it changed to a real business. I understood that they needed to do that to expand. I'm ok with it. I don't remember if it was voted on or it just happened.

[saisriram]

I don’t know if this is good, but as long as it’s not owned by a private equity company, I am supportive of it.

[couchpotatoes]

REI is one of the few companies that I actually respect. They have good quality store brand stuff for reasonable prices.

[Hose]

I browsed one near me and I can see why they lost $$. they had twice as many employees as needed and none of them were really doing anything.

[feline.equation]

I became a member when it was only $20 purely for free waxes on my skis. A regular wax was $10, so it paid for itself after the second wax. I used to go like 3x/week to get my free wax after coming off the mountain. It was a hell of a deal. Never used my membership for anything else and I don’t shop there.

[Jimbo]

Canada had a version of this. Mountain Equipment coop. MEC. It tried to expanded and lost its way. Built a massive head office and had fraction try to take over in proxy battles. Made all sorts of silly rules to prevent efforts. Sold to equity firm. End of experiment.

[adaml]

I think its great because it can teach people a little about stocks, in a simple way they can understand

[SauceDon]

Wait. Couldn't a huge YouTuber just straight up usurp the company 😭😭

[lawrenceralph]

Was great during 1st decade when quality was readily available at relatively low prices.

Over the years the quality is still excellent but prices have skyrocketed to premium prices.

Lifetime member from ~ 1976 Berkeley days, but usually hit thrift shops now, or Amazon.

[WannaBeHocker]

If a company takes in 3.7 billion but still isn't a loss, then their "shareholders" aren't managing it properly.

[stevenguevara]

With the discount their items are still outrageously expensive

[shawndonnelly]

I like REI. They seem to exploring different vendors the last few years, like Hobie and some others. I wish they would offer more American made products. They are certainly a little pricey on things. However, they are typically well stocked and very clean stores. I’m happy to be a member.

[marcusmyge]

Meanwhile in Norway the second largest owner of supermarkets is a consortium of co-operatives. Creatively called Coop.

[kennethdias]

I strolled through one in San Luis Obispo CA. The products seem way overpriced

[patrickcoyne]

rei is really the only place i can get somethings where i’m at. anchorage is a big hub for outdoors stuff. but cabela’s and bass pro cater more to hunting, rei is more recreational. there are some local stores but they don’t offer me money off when i spend money with them. they don’t really run sales worth my time. and their prices are always more expensive than rei.

[Gratefuldeadgriffin]

The Erwhon of the camping world that real campers can’t afford it’s for all the corporate people that go to Tahoe basically

[tenkarausa]

Hi my name is Rainbown Riverwalk welcome to REI! Can I help you find a $700 backpack?

[drgrube]

It's a nice, expensive store, that charges a 30 dollar entry fee.

[KSalkool]

Not bad a store in which you can have a fair exchange with a store, win win situation