How REI Dominates the Outdoor Retail Market
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- เผยแพร่เมื่อ 27 มิ.ย. 2023
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REI is one of the largest and most well known outdoor store in the USA with over 170 stores across the country. One of the main reasons they have been able to pull this off is because of their company structure as a co-op… but what does that even mean?
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For further reading, check out the sources for this video here:
docs.google.com/document/d/e/...
Script: Holly Maley
Editor: Matthew Veal
Lead Editor: Kirsten Stanley
Project Manager: Lurana McClure Rodríguez
Host: Levi Hildebrand
Want to work with Future Proof? Suggestions? Hate mail? Get in touch with the project manager, Lu: contact@befutureproof.ca
Hey team! Just letting ya'll know that we heard you on the membership thing! Levi mentioned this in the video off the cuff based on his experience in the store in Austin where he was sold a membership. At MEC in Canada memberships were required when they were still a co-op so yeah!
Please look into the claim of not giving to non-profits. That’s just not accurate. The revenue figure is also misleading considering the company operated at loss that year. multiple financial statements are publicly available online.
Just bc he was sold a membership doesn’t mean it’s a necessary thing to shop there. I get offered the membership every time I shop there, but aren’t required to have it. My husband has it, it has its benefits, but we don’t need to each have one.
Fix the video. It’s being shared on other platforms without your written correction. This is a massive error.
How come instead of admitting you're wrong you're just trying to justify it? Groundbreaking.
One mistake. You do not have to be a member to shop at REI. (You DID have to be a member to shop at MEC) Non-members forgo most of the perks of membership.
Yup, it's not a membership club. The membership just buys into the Co-Op and gets you the annual dividend and many other perks. It's a membership that is well worth it for anyone that even remotely shops there frequently. The dividend alone has over paid for my membership.
Thanks for this! Levi mentioned this in the video off the cuff based on his experience in the store in Austin. Probably based on his experience at MEC in Canada where memberships were required (but are only $5 CAD)
@@FutureProofTV you need to fix this. It's just blatantly untrue what you said in the video and it's not a minor detail.
@@FutureProofTV The Austin store can be pretty pushy with selling memberships. I can understand where the confusion came from. (Line level employee at another store)
@@FutureProofTV MEC is no longer a coop either. It used to be Mountain Equipment Co-cop but now it stands for Mountain Equipment Company thus no more membership fees. Also when I was in VT as mentioned above, REI no longer requires a membership :)
One thing about REI that I do want to voice is that they sell used gear and returned gear back, as long as it's not broken. They're keeping stuff out of landfills and helping people reuse and get more life out of things.
They sell broken stuff at their Garage Sale too at deep discounts. It can be worth it if you can fix them. Like buying two broken bike racks for $60 each, combining their parts to make a good one, and still saving a couple hundred dollars off MSRP HAHA
Hi! Proud REI member here! Just wanted to point out that you DO NOT have to have a membership to buy anything at REI, nor are the prices any higher without one.
They are kind of higher as you don't get dividends, but they are not more expensive up front. Also members can get special deals now, access to the garage sale items, etc.
Yeah you don’t get the dividend back from your purchases. I don’t think you get the regular 20% coupons either. Plus I don’t think you can buy anything from the outlet/outlets. And…from my understanding you can’t buy any of the traded/used gear. And…I don’t think you can sell/trade your gear back to them kinda thing. I could be wrong on some of this. I can’t remember all the benefits. I’ve been a member for over 25 years. If you really do some research and keep an eye on a particular product you can usually get some decent prices. From my understanding you can also haggle for price there. Like bring in some competition prices for them to beat. I’ve always had good luck doing this. I’m not a big proponent of credit cards. However having one of their co-op credit cards scores you even better deals and dividends.
Prices are higher without one… members get discounts😂
Another plus for REI’s membership is aside from the fact it’s only $30 one time, if you spend $50 in a single purchase on the day you sign up they give you a $30 gift card back. So you basically get the membership fee back as soon as you purchase it. Plus, free shipping is included. It’s worth signing up.
I got my membership a while back when I needed to buy some gear and one in town just opened, there was some members only sale going on and the guy checking me out pointed out that if I bought a membership and then bought the stuff I had I would spend $20 less than just buying the gear on it's own. Did the math and he was right, plus being the only store in my area that has decent backpacking gear I always get a fair amount back in rewards each year.
Here in Italy we've had co-ops for more than a century. In every sector, from agricuture to banking.
Unfortunately they face two enemies: greed, which transforms them into corporations, and regulating bodies that allow corporations to whisper in their ear and regulate in a way that makes it difficult for co-op to survive.
In my opinion co-ops are probably the most ethical way to do business. Especially in the banking sector.
Lobbying has been the major enemy of every country at this point...
co-op banking (credit unions) is on the rise here in The States, especially with younger people. I do my banking with a local one, which is only available in my state.
100%! You will NOT find a more exploitative unethical anti-public corporate-serving first-world nation as the US. The way we are managed here is shameful in my eyes . We are 100% bought and paid for and by the large corporation and this has had disastrous effects over time in all sectors.
Co-ops do exist here but they are a tiny tiny tiny tiny sliver of the economic sector. Hopefully over time they will grow but yes they are barely a presence here at the moment.
I frequently call this a corporate dystopia hellscape. It's a little overdramatic but I feel both accurate and apt.
Some of its in federal policy, a lot of it's at the state level, and quite a bit happens at the county/regional level.
Don't know if there's anything I could possibly do in my lifetime to push back against corporate power and its unlimited spread but I hope so. I would LOVE to get regulations passed that limit their spread, acceptance, growth, power, and ensure they receive absolute last priority in being granted new building permits in any municipality. God I would love that.
I see nothing good about a large corporation nothing. I'm willing to hear counter-arguments but I don't see a goddamn thing good about those tumorous cancers. NONE! Pretty much everything about them is ass for their workers, our communities, the other local small businesses that they degrade or put out of business and even many of their suppliers. ONLY their shareholders benefit. They are CANCERS.
If it were up to me the large corporation would be dead. I would allow companies to grow up to a certain amount say maybe 100-125 national locations but that's about it. Absolutely no more. I really wish this were possible.
100%! You will NOT find a more exploitative unethical anti-public corporate-serving first-world nation as the US. The way we are managed here is shameful in my eyes . We are 100% bought and paid for and by the large corporation and this has had disastrous effects over time in all sectors.
Co-ops do exist here but they are a tiny tiny tiny tiny sliver of the economic sector. Hopefully over time they will grow but yes they are barely a presence here at the moment.
I frequently call this a corporate dystopia hellscape. It's a little overdramatic but I feel both accurate and apt.
Some of its in federal policy, a lot of it's at the state level, and quite a bit happens at the county/regional level.
Don't know if there's anything I could possibly do in my lifetime to push back against corporate power and its unlimited spread but I hope so. I would LOVE to get regulations passed that limit their spread, acceptance, growth, power, and ensure they receive absolute last priority in being granted new building permits in any municipality. God I would love that.
I see nothing good about a large corporation nothing. I'm willing to hear counter-arguments but I don't see a goddamn thing good about those tumorous cancers. NONE! Pretty much everything about them is ass for their workers, our communities, the other local small businesses that they degrade or put out of business and even many of their suppliers. ONLY their shareholders benefit. They are CANCERS.
If it were up to me the large corporation would be d ead. I would allow companies to grow up to a certain amount say maybe 100-125 national locations but that's about it. Absolutely no more. I really wish this were possible.
Some added clarity on the closing of the Portland store: it has a Portland address that is practically downtown with high overhead costs. There are three more REI stores within 5-6 miles of that address with larger surrounding populations and lower overhead costs.
Thank you for this!
I had been there a few times, and almost each time, I could find someone who was coming to steal merchandise.
Its way cheaper to close a few stores than to close the flagship store in town.
@@RockiesMountains Yes, theft became a problem at the Portland location in the last few years, typical of all urban U.S. environments these days. But that store was not a "flagship" store by any means, it was just the 2004 replacement for the 1976 Jantzen Beach, Oregon store, which was REI's third store. The remaining three stores in the Portland area were built before 2004 and far more customers each day.
I have a suspicion the untold story with many of these Portland stores is the insurance equation. Either they are getting dropped by insurers or their rates are drastically increasing to the point of being cost prohibitive. Being in Portland is sadly just too much of a liability these days.
I really appreciate this video. I am an REI employee and some of the things you are highlighting are very real concerns many employees have within the company. We are very concerned that REI will (and possibly is already on the road to) suffer the same fate as MEC. and know that there are many of us who are pushing back against it. We recognize the root values that the company was founded on and are trying to keep them at the forefront of what the co-op does.
There are two things that I would like to address though. First, you mentioned that you have to be a member to purchase from REI, that is not true. There are some items that are only available to members, but the vast majority of the items in store can be purchased by anyone, member or not. Second, a majority of profits do actually get redistributed back to three keys groups working the co-op. About 70% of total profits go back to either members in the form of a dividend/reward that can be used to purchase items, employees in the form of bonuses, and to non-profit groups in the form of grants to support their missions.
You forgot about profits being steering to bean counters and accountant execs that run the place. Their salaries are now in the millions. It wasn't like that 30 yrs ago.
Big fan of REI, co-op has given me some good returns, REI brand gear just lasts, they offer classes and are generally very helpful when you have questions on your gear.
As someone who works for REI than you for making this, you do an awesome job explaining how REI works, and well what the threat is to what we call "the CO-OP way" Thanks!
Hope you weren’t a lead :/
You definitely don’t need to be a member to shop at REI. But you do need to be a member to get exclusive discounts and a dividend at end of the year.
I love REI, my uncle was in town and was buying gear and he spent roughly $3500 in June for a backpacking trip and used my member code and at the end of the year I got around 10% of that back and used that to get my hiking gear start for 2023.
You don't have to be a member? You get perks but you don't have to be a member to purchase.
Was about to comment this, yeah. Membership is only $30 - increasing occasionally with inflation - and lasts a lifetime.
I LOVE REI soooo much!! They've always been my favorite store. It's now so hard to live in a town that doesn't have one now. But you have inspired me about the whole CO-OP thing and I will try to find some around my city!!! Thanks again Levi!!
Never heard of them
Now you have!
As someone that has recently gotten into hiking and stuff they are very good and their brand stuff is nice. I mainly buy the branded stuff like teva shoes or yeti but the REI co-op brand for clothing is really nice. Especially since it lasts so long
I'm glad you're glorifying this company without looking at recent events. 10+ stores are unionizing due to unfair labor practices and unrealistic expectations placed on employees. And the workers are not a part of this co-op, it is only for members who have paid in.
As a recent former employee I can say it barely runs as a co-op on a day to day basis and they care just as much about profit as any other company I've worked for. At the end of the day it is a business and they need to make money.
Wow that's wild, we had no idea about that new development (we wrote this script back in May). It's sad to hear that things aren't going in the right direction with this company.
They’re not immune to making outdoor lifestyle clothing that’s marketed as more serious outdoor gear, but with a little research, their products are legit.
Plus their sales can be off the hook.
Levi wants me to mention that his REI sleeping pads were a great deal... so there you go. 🤷🏻♂️
@@FutureProofTV lol so sassy
so true on sales, we make a list and wait for the coupons and dividend returns and stockup
Nice being able to learn a bit more about co-ops and how effective they can be. Hope REI is able to stay somewhat isolated from the “more is better”/hyper consumption type structure that most stores live and die by.
I've lived all over the world and I lived on the west coast of the US for the last 10 years. REI is a huge part of the lifestyle.
Oddly I had not heard about the news at MEC.I have a Canadian friend who would me something that only MEC had and I would do the same in the case of REI. Sorry for your loss.
PS Don't feel too bad for Portland Oregon. I guess it made the news because the store that closed was actually quite nice and large and located in the "Pearl" which is the only district of Portland Oregon that doesn't look like "portlandia".
But don't cry for them, they still have an REI in each of the suburbs!
I'm glad you mentioned MEC. I was a member from the early 80s and they were amazing back in the day. I had so many good experiences in their stores. Then they strayed from their roots. It started feeling like they cared more about growth than delivering on their mission. They went from a store in a basement full of technical gear to a store full of everything any normy might want to use outside and any clothing that was even remotely athletic. They kept opening new locations. They were in the process of opening a third in Calgary alone when they were bought. I'm still bummed they failed because they're really no different than any other gear store now.
Recently went to an REI to grab a few things for a short trip. No membership needed and it was genuinely a great experience with helpful employees. I was offered a membership, but it was not pressured on me at all.
I am taking a semester abroad this fall, and will need to purchase a TON of outdoor gear. Definitely considering paying the membership fee to join and see how much I can save if I’m going to spend hundreds of dollars 😭
Def worth buying the membership, I got a lot of money back from having it and spending over the year
Just remember that in almost every case, you don’t get an “eligible purchase” dividend/member reward on anything you don’t pay full price for. So, sale items don’t earn dividends, but if the sale price is discounted more than 10% from regular price you’re getting a better deal.
The membership is totally worth it. I Was told my membership fee went to support the state parks. They told me if I filled out a form I could get the $30 back in the form of store cred but ehhhh. I like the state parks (I actually work with them), so I didn't do that.
Here in the US, there are also a lot of co-op (and municipal) electric companies (and water districts, ISPs) that operate in a similar way, which is great since they're natural monopolies and having something like that be profit driven is wild.
I'd like to see some sources on REI becoming less co-op like not just mentioning Reddit posts, if true it's something that members (like myself) could work to change.
Overall great video!
Absolutely want to see more content about Co-ops!
The single biggest perk of having a membership is the return policy. Non members have 30 days, members have A WHOLE YEAR!
I hope REI employees are successful in their unionizing efforts!
I have quite many REI products over the years and all of them have lasted so far very well. A pair of their thin merino wool socks still lasts without any hole even with my abusive usage since 2018 till now. Have never paid any membership for any purchase. With such affordable price for such long lasting quality, REI has become one of my favorites. Not many can afford Patagonia, Arcte'ryx and the likes to be called sustainable. I also bought many other brands from REI. Good consultant team. It would be sad if their brand got sold and the quality becomes something else.
REI donated a ton of money toy community to build new mtb trails. Cant say that about many other companies in my state. So yeah i love rei!
I REALLY hope REI stays with its core values and doesn't sell out. People are so sick of the way most corporations operate. I spend a lot of money at REI, and one of the reasons I do so is because I know that at least some of my money goes to perpetuating the outdoor ethos of America and sustaining our natural resources. Also, having spent time in executive recruitment, $4M is what you have to pay to get an experienced CEO with a good track record. REI has to offer competitive salaries just like any very large organization.
REI Co-op member here since 2012. Been very happy & satisfied with their business. Looking forward for many more years..
As someone with an REI membership that has a decent amount of friends that also hold the membership, I think the biggest issue my friends and I have noticed are the crazy prices. I pretty much only buy during sales now.
About the throwaway line about credit unions, I am also part of a credit union and I think smaller credit unions that are city or state specific work really well and are true to their mission.
Every single retailer. for any major brand .is bound by a MAP (Minimum Advertised Price) policy. This policy allows you to run a 14-day sale once every quarter (3 mo), so to prevent retailers from constantly lowering the price to be more competitive. The prices you see at REI should be the same as any other retail store, as no one selling XYZ brand is allowed to offer the products below the MAP.
Their gear is only worth it when it's on sale at a discount. Great stuff at 30-80% discounts. Plus, great deals at their 'garage sale' (they flip returned used/damaged gear at decent prices, saving you hundreds of $ sometimes)
this is great. Thank you.
Been a member since 93. If you spend a bit every year the service, year return policy, and dividend add up to a good experience. Probably spend 700-1k a year there keeping my gear collection in good shape. Plus the free shipping now.
You do NOT have to be a member to shop at REI. Come on editors, keep the info factual.
See pinned comment.
I've been a member of a local credit union my entire income-earning life, and I can't imagine swapping to a bank. The fees are generally lower than banks for the same kinds of services, likely because they don't have stockholders or regional/national executive and admin salaries to pay.
And I've never had a bad customer service experience there in the 20ish years since I joined. Always friendly and professional.
Big fan of the channel and I enjoy these videos! However, I think you guys missed out on talking about the REI union busting that happened just this past year.
One of the things I used to like about MEC was their exclusives (house brand items), and the fact they did a lot of community events, but their change to a company left a bit of a sour taste in my mouth as it definitely feels like the company cares less about the members (or should I just say "customers" now?), and more about sales.
REI also has a decent house brand and I love their commitment to equipment longevity through accepting customer trade-ins which are re-sold in store. Hopefully they'll retain the co-op model!
Yeah MEC was a solid "other" option in an outdoor market dominated by marked up legacy brands right?
@@FutureProofTV On the up side, the new MEC resurrected my favourite RAD SHORTS after so many years! 🥰
MEC was not amazing when they first became a company, but it seems like the company is trying harder to get back to its roots. It is one of the few places near me where I can access ethically made clothes in a brick and mortar store.
Yeah MEC used to run free events like hikes and bike rides and you used to be able to rent gear. These days it just feels like any other outdoor store. I still shop there because I can walk to my local one, but it doesn't have the same feel as it did when I was a kid and my family went out of our way to road trip hours to our closest one
@@ChristianBehnke MEC brought back the rad pants when they were still a coop and had hinted at bringing back other older discontinued items. I think the shorts were on the roadmap before the buyout so I'm not sure I'd give the new company too much credit. I'm hopeful they'll continue to be a good source of gear I want but I don't think I'll ever think of them the same way I used to.
This idea of a co-op as an artist is actually very appealing.. I wonder if such things exist in my area. Thx for the insight Levi 😄
It's great seeing people in the comments with actual REI experience pushing back against the parts that were inaccurate. I felt similarly on the thrift store video. It's likely hard to make accurate videos 'from a distance', ie. about places where one doesn't live or about things one doesn't do or own, but it still needs to be done accurately. It was clear from the comments in the thrift video that the inaccuracies were impactful, but not in a good way.
The insurance world in the US have companies called inter-exchanges. These are essentially co-OP’s where a policy with the company is just like owning a share of the company. One famous co-op us USAA, which was formed by military families that found that insurance companies at the time where expensive for military lifestyle.
They got together and decided to pool their money to insure themselves. From there more and more military families heard about the exchange and bought into it, until it became what it is today.
Also, the AAA insurance companies are mostly also organized as exchanges. Would love to see an insurance version of this video, is what I’m saying.
Thanks for bringing more attention to Co-ops!
I would argue Farming CO OP and Credit Unions (also a COOP) are the two big industry players. I a member of a local grocery CO OP and would love to see more these models but they are poorly understood and under appreciated.
Came here to mention farm co-ops for both the supply-side (e.g.,. Southern States Co-Op and many others) and sales-side (e.g. Land O' Lakes, Tillamook Creamery Cooperative and many others).
As a Canadian I was holding my breath waiting for the MEC situation to get mentioned lol
Sounds like a good business model. I think the downfall of the company I worked for at the turn of the century was the need to show increasing profits. The CEO said the market demanded 20% growth every quarter, which proved to be unsustainable. We missed our target one quarter, which began a meltdown of our stock price. The beginning of the telecom bubble burst.
You should do a deep dive on the Cabot co-op, would be really interesting to see how it works in the dairy industry!
Back in the mid to late 90's I noticed the REI was catering to the people that wear hiking/expedition clothing but never leave the city. The clothing section of the stores got larger & larger. People called it the "Hiking Nordstrom's." It's still a good place to get some things but it seems more like a big box corporation type of place than a coop.
Absolutely.
relative noob here then (shopping at REI since ~2007), what was the selection like before then? hard to find things that I'm interested in buying that aren't available at REI that are (easily) elsewhere
The Davis Food Co-op and the Sacramento Food Co-op in California are wonderful. Wish there were co-ops here in Georgia. I still maintain my REI Co-op membership after thirty years.
Great video! Was a big MEC fan for a long time! Quality did start to go down but their return/mending policy especially on co-op branded stuff was outstanding. Just saw in your video that MEC now stands for Mountain Equipment Company. Goodbye my fav co-op 😢
Yeah, I noticed that their quality has been lowered since the switch too.
Yeah it was a sad day when MEC lost it's co-op designation... 😢
@@FutureProofTV Is it a good time to mention MEC CEO supported store manager's actions when a security guy choked a customer (former member!) at MEC Vancouver last week?
FYI there is still an REI in the Portland area - just not in down town Portland.
FYI, there is still an REI in downtown Portland until 2024.
@@nativeportlander i should have said that, too. Thanks for the correction!
I wondered what happened to MEC. First found it in Victoria in the 90 s and thought it was more like old REI, when REI was only a Seattle Co-op with one store on Capital Hill in an old car dealership and smelled funny. After REI got away from their roots, I found it was less expensive (for a while) to order directly from MEC even with import costs. When my son was little, our local store had real rock climbers in the rock climbing section, and one old guy used to help my son improve his skills on the big rock, during the slow part of the day. Great memories. Now that REI store (and rock) are gone. Also REI brand tents used to be SO GREAT. We have one from 20 years ago, that still is designed better than most.
I wish you had taken a moment to talk about RCAF, REI cooperative action fund. It's a really great program REI has set up for donating to environmental nonprofits.
I'm from Uruguay in south américa, we learn about coops in lawschool and pretty much the biggest local milk company it's a coop, in addition u have coops for living in buildings and stuff so in general the concept is more common
I am American, but have been an REI member since 1971 and was a MEC member since the early 90s. You had to be a member of MEC and they did not really pay a dividend but donated your dividend to their chosen causes whether you wanted to or not, while REI has since 1971 paid a dividend on all full priced items. Then came Covid and the board of MEC determined they were loosing money quickly sold out without the approval of the membership, while REI continued. The product mix was different too with REI having more smaller profitable items while MEC had more big stuff. I joined to buy a Feathercraft folding kayak in Toronto at the suggestion of Mr Folding Kayak, Ralph Diaz. MEC also attracted smaller competing commercial businesses and in some locations developed outdoor equipment districts, while REI in every location I have visited nationwide was pretty much stand alone. The problem might have been capitalization during a crisis or different Covid responses between the countries.
Edit: i was going to correct Levi’s comment about mandatory memberships to shop. But others already have. Lots of perks to be had with the membership however. Money back and great discounts are my favorite.
Yes please: videos on pizza pockets, farmer co-ops and anything else he asked if we want to see
Thank you for actually reading the comments before posting haha
What about REI’s union busting?
these brands are not even available in my country, but i still watch your videos because of the amazing presentation
Thanks for being here!
Your channel is awesome. I so appreciate all the work all of you do to keep us informed and educated. I’m wondering if you might consider doing a video on whether or not Osprey-dedicated consumers are warranted in their loyalty.
Great suggestion! And thanks for being here eh? We'll do our best to get to that one!
If you want to research more about co-ops in Argentina there are around 19 thousand, dedicated to all sort of stuff. They do thrive in crisis times and also kind of are a response for those moments. It might help you explained the co-op buildings new trend in the US/Canada because in Argentina has being around a lot of time.
Love to see video on Ocean Spray
I'm still pissed off with MEC for selling out, not only because they sold to an American Corp, but because they didn't even consult with their "members". They just sold it, and then sent out a message and said "we've changed our name to Mountain Equipment Company!...and oh yeah...we sold the co-op...but you're still a "member"! ugh...just not cool at all the way they did that. And it was entirely profit driven.
As a Canadian, I've never shopped in an REI, and I doubt a membership would do me much good up here, but it seems like a decent place to buy gear. I tend to buy cottage company stuff though.
Yeah that's what we felt too. Like there's no easy way to end a company but that felt sleezy...
Wow I did not know a lot of these, I like them even more now
Thanks for watching!
Ocean Spray would be a great Thanksgiving episode
Forgot to mention REI has been union busting
My local REI just unionized though
Shopped online at REI before my trip to Iceland. Great website and easy exchanges
There's a local co op grocery chain up here in humboldt county.
At around 2:00 it's stated that you require a membership to shop at REI. That is incorrect.
Thanks for this! Levi said that based on his experience buying something there for the first time? Didn't know that!
@@FutureProofTVThere are member exclusive items, so maybe he saw that and thought it was for everything
@@FutureProofTV yeah I bet they pushed the membership like it was required. I could see that.
A additional piece for why them leaving Portland was a big deal is REI is headquartered in PNW (Seattle).
I find it interesting that this video was posted today, considering that I'm planning on going to REI later on... lol
Wish we had Rei in the UK - want a Flash pack
At a time where real quality control is done by consumers and not manufacturers, REI shows more responsibility towards its customers than any other retailer that I have dealt with. Their classes are decent with knowledgeable instructors. And they have certainly gained my respect by turning me down for employment on three different occasions. I wouldnt want to be a part of any club that would have me for a member.
Co-ops are doing great in India as well, especially the dairy market. Namely, Amul (Anand Milk Union Limited) and Mother Dairy.
REI, I've worked there for nearly 30 years. Their in house brand is probably the best value out there in quality and price. It's not all rainbows though since our current CEO took over we've lost our way and have pushed out our core customers who spent real money trying to get a generation who will never shop with us. Nearly 25 percent of my customers I send away to get what they want. 8 more years on our current path we'll be lucky to be here.
With their new addition of used gear trade ins and sales, I've basically not bought any new hiking or climbing gear in 2 years. Shit is legit
I also work for a co-op company and it’s profit. Margin is about four times the industry leader.
The water bottle I'm drinking from I got at the Austin TX REI back in 2017.
In asia, I know REI but have never seen the REI Co-Op buut, the stores that sells REI gear usually sells other stuff, though the REI gear was usually one of the best they had, I had 1 REI backpack (40l) wore it daily for school for around 2 years before the strap tore off, then I had a 'mini carrier' (35+5L), also going around 2 years now, there is actually a really good local brand, but the REI was cheaper and I wasn't given the choice to buy the local brand (by my parents for reasons idk).
Though going abroad my dad let me bring the Osprey Volt (since it was sort of for me, and I did wore it during a family hike and camp, then it was left in the closet for some time since the 'limitations for social activities' were lifted).
More co-op content!! 👏👏
Do you live in vic? noticed you mentioned Phillips.
Missed a huge opportunity to talk about the mistreatment of REI employees over the years. From trying to bust unions to hours being reduced for not selling enough memberships. All that info is out there.
They are also supposedly aggressively killing the competition (small family owned skiing stores) according to people in a skiing community but I don't know which ones
This is not the story of every employee or every store. I’ve been a part-time Greenvest for 15 years and I’ve always been treated well.
Although I've been an employee for over 22 years, they have been good to me but lately I believe they have lost their path with questionable products selection more target and department store like, to try to get new younger shoppers but have pushed out their customer willingly to spend there.
Also at REI we were far closer knit then today, they have created a huge division of your only inclusive if you fit their group.
Oh cool I didn't know you were that local, also Coast Capital is similar to Vancity
MEC in Canada (Sail and Atitude in Canada as well), REI in the US, and Mountain Warehouse from the UK.... and Decathalon from France. We get all but REI in Canada.. wondering if they are going to make a move here.
I joined REI when there was one store. 1973 I think. It was mostly mail order for most of us customers I bet.
“Creighe”!!!😂😂😂
Drop the pizza pocket vid
please make the pizza pocket video about the lava... and the cranberry?orange soda one too! Thank you
Still I find co-ops to be more customer oriented for example credit unions are basically co-ops and I have great experience to the point where I don't use banks because they have worse service than credit unions. While co-ops don't usually require membership they do tend to push selling membership. And honestly never been to REI but other co-ops tend to have better return policies, better customer service and goods tend to be of good quality if maybe a little bit more expensive.
I love REI. I will support them first over the e-commerce giants. I find that they typically do some research on the products they sell so I know I’m more likely to get a quality product. Same goes for Costco. I dread Amazon. Their search algorithm has been completely taken over by Chinese brands that sell cheap knock offs. Not saying REI doesn’t sell some junk too, but it’s way less than Amazon. We need more businesses like REI and less like Amazon.
We have/had the same style of company in Canada.
I haven't lived in Canada for a long time now.
i have an rei goretex jackat that has been through 3 or 4 winters now.
Looking forward to the pizza pocket video
Can we have a video about Drop (Massdrop)?
Thanks!
You guys should also do a video on NORRØNA. This is a Norwegian brand produing products at the level of Arc'Teryx. However they are still quite unknown outside of Norway. I got a Flannel from them on my last holiday in Norway and it's hands down the best flannel i've ever owned, and i wear it all the time now. This brand purely focusses on function and does so to a very high level.
I forget the exact quote, but it's something like "Revolution will not come with one big communism, but with lots of little communisms"
Yes to all the co-ops.
I need the pizza pocket video!
Consider that the corporations mentioned as failing were victims of bad management and greed (not competition):
Borrow, borrow, borrow;
Bonus, bonus, bonus;
Bankruptcy, bankruptcy, bankruptcy.
Please note, just because the CEO gets paid millions doesn't mean REI is "profit driven" the same way a traditional public corporation is. There is a difference between "salary" and "profit motive." His salary is just his salary. He is still just an employee, and not anymore of a co-op member than any other member.
A profit motive means that "performance" is judged purely by profit or stock price. As far as I can tell, the REI CEO's salary is a straight cash salary, unlike most corporations which pay their CEOs in stock, which incentivizes them to make decisions that improve stock price rather than improve the business. A straight cash salary means his compensation depends on whether he fulfills the board's expectations, which are not necessarily based on raw profit.
There is a local co-op in my city that sells organic and vegetarian and vegan and other healthy type food. I don't know much about it, I am not a member. It's a great store, but I almost never go there because the parking is terrible and I hate the traffic. I should try and make more of an effort to shop there anyway. It's a nice store.
I've been a member of REI for years, so, not discouraged
A video on what's happening with the company behind instant pot and PYREX would be really nice