19 February 2016
Introduction to REI
A. REI stands for Recreational Equipment, INC and was founded by Lloyd Anderson in 1936. REI is a national outdoor specialty retailer and the Nation’s largest consumer co-op with 5.5 million active members in addition to its own line of Apparel. REI offers products from many anyone may join or shop at REI, members pay a one-time $20.00 membership fee, receive voting privileges to elect REI’s board of directors and share in the co-op’s profits through an annual member refund based on their …show more content…
2. REI is a prime example of how old-line retailers are beating Web Retailers at their own game. Its online sales were growing twice as fast as its busiest stores. That years online sales at REI.com and REIoutlet.com totaled 92 million. That was 13 percent of REI’s 698 million in total revenues. (Forbes,2014)
3. For REI, the internet isn’t a substitute for storefronts but a new sales channel that enhances The existing channels. Company research shows that customers who began shopping on REI.com spent 30 percent more in REI’s real world stores than they did the previous year. One reason might be that REI allows Internet buyers to pick up and/or return merchandise in any of their stores. Tracking concentrations of online customers helped REI target new store locations as well. (Forbes,2014).
4. Using The Internet and Social Media REI’s devoted climbing and camping enthusiasts tend To be lured by product information that includes