#OptOutside: Retailer REI Puts People and Purpose Over Profits
In the wake of major scandals and the financial meltdown that rocked the last decade, many have come to view big businesses as caring only about profits. While this is certainly not a new phenomenon, in the era of social media and instant gratification many companies look for new ways to appeal to consumers while showcasing their corporate philanthropy. With the holidays upon us retail establishments will be at the forefront of business news as they vie for shoppers and market share through the Thanksgiving, Christmas and New Year’s shopping season. One such company is REI, the Seattle base outdoor specialty retailer with 142 stores in 34 states. Today REI made a stunning announcement. In a move that shocked many in the retail industry, REI released a statement detailing its plan to be closed on Black Friday—traditionally the biggest shopping day of the year.
According to REI’s press statement president and CEO Jerry Stritzke said:
“Our definition of success goes beyond money. We believe that a life lived outdoors is a life well lived and we aspire to be stewards of our great outdoors. We think that Black Friday has gotten out of hand and so we are choosing to invest in helping people get outside with loved ones this holiday season, over spending it in the aisles.”
To reach this goal REI is giving its 12,000 employees a paid day off the day after Thanksgiving and instituting the #OptOutside campaign which encourages individuals and families to spend time together outdoors. Considering that 86.9 million shoppers took to stores last Black Friday, and it is one of REI’s top 10 days for business, it’s a significant statement that the outdoor retailer is making. Employee Brian Harrower said in his 25 years of retail experience this is the first Black Friday he has had off. In an era of rampant consumerism it’s amazing to see a company break convention and close during what most consider regular business hours essentially putting profits second. While REI stands to lose a big pay day in terms of dollars, they also stand to gain a huge investment in terms of loyalty from both employees and consumers who value people and purpose over profit.
Image courtesy of REI OptOutside
