‘This Black Friday, We’re Closing All Our 143 Stores’

Summary

REI, a consumer outdoors product brand, is closing all its stores on Black Friday to encourage employees and customers to spend the day outside, leveraging its unique position as a co-op to strengthen brand loyalty.

Abstract

In a bold move that aligns perfectly with its brand ethos, REI (Recreational Equipment Inc.) has decided to close its 143 stores on Black Friday, forgoing the traditional revenue boost associated with this major shopping day. Instead, the company will pay its employees to enjoy the outdoors, a campaign titled #optoutside. This initiative is not just a promotion but a reflection of REI's identity as a co-op owned by its members. It's a strategic decision that aims to deepen the connection with its customer base by reinforcing the brand's values and commitment to the outdoors lifestyle. By choosing to prioritize outdoor engagement over sales, REI is likely to enhance its brand image and customer loyalty, which it believes is more valuable than the potential revenue from Black Friday sales.

Opinions

The decision to close on Black Friday is seen as a genius move that resonates with REI's brand and audience, emphasizing the importance of authentic brand strategies.
The campaign is considered an effective way to differentiate REI from other retailers and to gain 'lifelong, renewed, love' from its members, suggesting that such loyalty cannot be bought with money.
Startups are encouraged to identify their unique capabilities and use them to connect with their audience in meaningful ways, as exemplified by REI's #optoutside campaign.
The article emphasizes the importance of courage in executing brand strategies that may seem counterintuitive to traditional business practices but can ultimately be more profitable.
The campaign is presented as a prime example of how a brand can do things right by staying true to its core values and engaging with its community beyond mere transactions.

‘This Black Friday, We’re Closing All Our 143 Stores’

See grain. Go against it.

In a wonderful promotion that goes straight to the heart of its brand, outdoors consumer product brand REI (Recreational Equipment Inc) decided to remain closed this Black Friday. It will instead pay its employees to spend the day outside. An idea that is so nuts for a big retailer, that will lose important revenue on the biggest revenue generating day of the year, that would never go past any Board of Directors or Shareholders…that it makes for the perfect promotion for REI to pull off.

That is the question I always ask startups as I help define their brand strategy. What is it that makes you so unique and how can you leverage your uniqueness to gain hearts?

REI is a co-op. It is owned by its members, its shoppers, by all of us. If anyone, they are uniquely able to ‘#optoutside.’ A genius move that goes deep into the heart of the outdoors brand and its loyal audience: “While the rest of the world is fighting it out in the aisles, we hope to see you in the great outdoors.” Opt Outside. The revenue that they will (likely) lose that day, they are gaining in lifelong, renewed, love by its members. A love that is worth every penny (used solely as a metaphor) of their Black Friday losses. Money can’t buy what this strategy will give back to their brand.

What is your takeaway?

Well, what is your startup uniquely able to do? Define and follow it to connect with your audience in deeper, more meaningful and plenty of profitable ways. Oh, one more detail: Have the courage to execute upon it.

With a full-fledged campaign on its heels, which you can view through its web site, I leave you with two videos that sum up a brand doing it right: