Transcript REI.ppt
Stephanie Creek Jim Hodgson John Lim About REI • • • • “Recreational Equipment Inc.” American consumers' co-op Sells outdoor gear and sporting goods. Sales mediums: – Retail Stores – Catalogs – Internet History • First store opened in 1938 in Seattle, WA • Founded by Lloyd Anderson and 22 fellow climbers. • Established as a consumer co-op. REI Membership • One time fee of $15 to join. • Benefits: – Gear Rental Discounts – Return 10% of purchases. • Over 3 million members, nation’s largest co-op. Products • Quality gear, clothing and footwear • Backed by 100% guarantee • Set product standards for outdoor sports industry • Conduct tests in lab and field by employees • 25% of sales are REI-brand • REI's mountain, road and touring bike lines - "Novara" Stores • Over 90 locations in 27 states • Facilities for testing equipment – bike test trails – climbing pinnacles – camp stove demonstration tables • Outdoors Education: – in-store clinics – sponsored events – association with local outdoor organizations • Internet kiosks – product information – recreation resources – order from complete REI line Fortune’s Top 100 Places to Work • • 9th in 2006 How Winners Are Selected – – • Evaluated on culture, policies, unique practices, and benefits Random 400 employees survey measuring: • fairness in management • pride in work • job satisfaction • Camaraderie What Puts REI Among the Top 100? – – – – – – – – – – Retirement plan that doesn't require individual contributions Health-care benefits for all, including part-time employees Gear discounts and free gear rentals Encouragement of work/life balance Outdoor-focused culture that encourages outdoor activity Camaraderie, open communication and opportunity for advancement Gear grants to take on a personal outdoor challenges Community involvement, contributed $20 million to local recreation clubs Incentive pay program Employee discounts up to 50% Local Competitors • • • • Big 5 Bi-Mart G.I. Joe’s Walmart Branching Out • REI Adventures • REI Gives – Youth Programs – Community Service – Grants – Stewardship Awards • Online Store • Retail Expansion Questions? References: • http://rei.com/ • http://seattlepi.nwsource.com/business/27 6440_jewell05.html • http://en.wikipedia.org/wiki/REI