COVID-19 Didn’t Stop REI from Embracing the Circular Economy
REI has long enjoyed a reputation of selling quality, high-end gear for serious outdoor adventurers. The brand’s stores are a nature-lover’s paradise, with an abundance of equipment for camping, hiking, climbing, cycling, running, swimming and more. Now, within the retail sector, REI is well on its way to becoming a major player in the circular economy.
As the largest consumer co-op in the U.S., some of REI’s profits go back to its customers through membership rewards; as for its retail employees, benefits include healthcare, a retirement plan, sick leave and vacation time. Today, the brand credits itself as one of the first major retailers to sell used gear and rentals. In 2021 alone, REI grew its used gear revenue by 86 percent from the previous year.
And on the social sustainability side, REI recently launched a fund that it says will help promote racial equity in the outdoors.
Ken Voeller, Circular Commerce & New…
