Views from the corner office.
By now it’s all over the news…
REI, the privately held niche retailer that primarily sells outdoor recreation gear, sporting goods and apparel, is planning to buck the tide and close on Black Friday, traditionally the biggest shopping day of the year. It will not only close all of its 143 stores but also black out its website and give its 12,000 employees a paid day off so that they can “go outside.” The rationale behind this according to REI President and CEO Jerry Stritzke, is that Black Friday shopping had “gotten out of hand” and the company wanted to “encourage people to get outside, saying “maybe this was one of the most authentic things we could do.”
For its 20th anniversary, Amazon decided to create a new shopping “holiday” Prime Day, named after the online retailers membership platform, Amazon Prime. At first glance, other than the self-serving nature of the new “holiday”, the concept appeared to be a stroke of brand marketing genius from the company that more or less pioneered online retail. Touted by Amazon as the day that would upend the other big shopping day of the year, “Black Friday,” excited shoppers prepared to grab deals that would be better than those offered at the traditional start of the holiday shopping season. (Read More->)
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