2 ms·
I personally did not even know that my membership entitled me to vote on anything, so it's possible I am not the only one. REI is a great example of how you ca
by habosa 11y ago
I personally did not even know that my membership entitled me to vote on anything, so it's possible I am not the only one.
REI is a great example of how you can invest in long-term customer loyalty rather than short-term gains and win. I buy pretty much all of my camping/hiking/outdoor gear at REI because I know that even though I might save 10% elsewhere the people at REI will support my purchase forever and help me get the right gear. I know a lot of other people who make the same decision. It's one of the only shopping verticals where I don't aggressively price hunt because I am just so happy with the experience at REI.
I think we would see this type of corporate behavior in more industries if investors had the patience for it. You can massively increase customer LTV and reduce churn by spending some money to make people happy.