Veteran multiplies role at REI, assuming position as Vice President of Stores and Retail Operations
REI Announces Ambitious Growth Strategy
Outdoor retail co-op REI is set to expand its presence and offerings, aiming to cater to a wider audience and deepen its connection with existing members.
The company has seen significant growth over the past year, with its experiences such as multi-day trips and guided day tours growing by over 60%. This growth is set to continue, as REI aims to more than double its current membership of 21.5 million to over 43 million by 2030.
To achieve this ambitious goal, REI plans to open five new stores through 2026. These stores will be strategically located near prime outdoor destinations, such as state parks, and will feature larger, modernized facilities. New stores are already scheduled to open in Amherst, NY; Carlsbad, CA; Lynwood, WA; and Chico, CA in 2025, with more locations set to follow.
REI's growth strategy also includes expanding its product offerings to include adjacent services like travel and rental gear. The company has already added to its run category in the spring and is likely to continue this trend, offering products and services tailored to local outdoor activities.
Mary-Farrell Tarbox, who has over 30 years of experience in the retail industry, has been appointed as REI's Vice President of Physical Stores and Retail Operations. Tarbox, who most recently held a senior leadership role at Bed Bath & Beyond, will be responsible for REI's nearly 180 stores and its retail operations team.
Tarbox will oversee goals around improving the employee experience and customer service, with more than three-quarters of REI's roughly 16,000 employees working in the areas she will oversee. REI has also committed to closing on Black Friday in perpetuity, demonstrating its commitment to its employees and customers.
In addition, REI has expanded its loyalty program benefits this year, including monthly product curations, exclusive used gear offerings, and free shipping with no order minimums. The company has also created a new position for a chief of supply chain this year, further demonstrating its commitment to growth and improvement.
REI ended 2021 with $3.7 billion in sales, a 36% increase over the previous year. With its new growth strategy, the company is poised to continue its success in the outdoor retail industry.
Sources:
- REI Blockchain Project
- REI Expands Loyalty Program Benefits
- REI Announces Growth Strategy
- REI Closes on Black Friday
- REI Unionization Efforts
- As part of its growth strategy, REI plans to integrate AI technology into its operations, aiming to streamline finance and business processes, ultimately enhancing customer experiences.
- Recognizing the importance of environmental sustainability in the travel industry, REI has pledged to reduce its carbon footprint by sourcing eco-friendly materials for its new stores and encouraging customers to explore outdoor destinations through responsible means.
- In the realm of technology and innovation, REI will expand its offerings to include tech products and solutions for outdoor activities, such as solar chargers and wearable devices, ensuring members are well-equipped for their adventures.
