REI Co-op will prioritize customer trust, a focused product assortment, elevated service, and a revamped membership program in its refreshed direction under CEO Mary Beth Laughton, who was appointed to the role in January. Dubbed “Peak 28: Ascending Together,” Laughton shared details about the new three-year strategic plan for the Seattle-based retailer on Monday.
“This plan is not about getting back to what the co-op used to be,” Laughton said in a note to employees. “It’s about climbing the challenging peak that’s in front of us, putting the co-op on more solid footing.”
The move comes after a period of significant turmoil for the outdoor retailer. Speaking at the Outside Summit in Denver, Laughton acknowledged the “tough periods” the co-op has endured, including recent layoffs and the shuttering of its Experiences travel business. REI reported a 6% revenue decline in 2024 to $3.53 billion, though its net loss narrowed to $156 million from $311 million in the prior year.
Strengthening Trust Connections with Consumers
Peak 28 centers on four strategic pillars designed to differentiate REI in the outdoor retail landscape:
- Connected, Focused, and Trailblazing Culture aims to create a high-performing, purpose-driven organization where employees feel deeply connected to the business mission and empowered to innovate.
- Authentic, Culturally Leading Assortment will deliver trend-right products that build trust and shape outdoor culture, ensuring items remain in stock and competitively priced while reinforcing co-op values.
- Elevated Service and Experience promises to inspire customers through differentiated in-store and online experiences that clearly distinguish REI from competitors while building trust with every interaction.
- Reinvented Membership will transform the co-op’s membership program with highly differentiated offerings designed to deepen customer engagement and drive financial growth.
The strategy acknowledges that achieving these ambitious goals will require difficult choices and fundamental operational changes. However, Laughton emphasized that the plan’s success would unlock significant growth and development opportunities for REI’s workforce while better serving the co-op’s 25 million members.
“As we continue to evolve our culture, we hope employees will be inspired to connect more deeply with our business and our purpose, find new ways of working and collaborating and push us to keep innovating,” Laughton wrote. “You should feel engaged and recognized for the important work we’re doing. And because our plan is designed to help the co-op get back to growth, if we do this well, we will unlock more growth and development opportunities for our employees.”
