On one of my habitual news-feed-skimming sessions, I encountered a rather interesting article by Forbes . As an international student, even I was no stranger to the notorious ‘black Friday’ sales.
Curiously, as most shops braced themselves for the horde of customers to come, REI is doing just the opposite!
Foregoing the chance to reap substantial profits, REI has opted to close the doors of it’s 143 outlets and encourage it’s customers and employees to “life outdoors is a life well lived”
I believe that in opting to close it’s doors on one of the busiest days of the year may prove to work toward REI’s advantage as not only does REI’s employees feel valued, but so too do it’s customers (whom would naturally associate the brand to be righteous and not money-hungry). In the long run, this might even strengthen the bond between customers and the brand, as well as decrease employee turnover and higher levels of motivation (improving the internal structure of the business).
I agree with the overall opinion of the article that more firms should adopt such practices as it leads to a happier, more motivated workforce!