Competitive Landscape - REI
To provide an understanding of the competitive landscape for REI (outdoor retail and experiences). This will include an overview of the plans for each player as well as information on how COVID-19 has impacted the outdoor activities, gear, and experiences market.
- On Comparably, REI's competitors are listed as VF Corporation (The North Face), Dick's Sporting Goods, and Big 5 Sporting Goods.
- Owler added Patagonia and MEC to the list.
- An article in Business Insider listed Cotopaxi, Moosejaw, and LL Bean among companies providing similar products and services.
COVID-19 and Outdoor Activities and Experiences
- Persons planning to complete hikes have had to postpone or cancel hiking plans as parts of major trails are closed.
- The Pacific Crest Trail advised hikers that their permits would only be valid on public lands that did not fall in the states where there were stay at home orders.
- The Appalachian Trail Conservancy asked potential users to postpone section and thru-hikes and closed ATC visitor centers, camping areas and shelters in various states.
COVID-19 Impact on Outdoor Gear Market
- Due to COVID-19, the outdoor gear market has seen closures of major retailers. For example, VF Corporation and Patagonia has ceased US operations, while REI closed its brick and mortar stores, but continued online sales.
- Despite ceasing operations, Patagonia, along with REI will continue to incur payroll expenses.
- Consumer spending on outdoor clothing declined by 73% and adventure gear declined by 75%. However, spending on survival products increased by 163%.
- The initial hour of research focused on identifying the major competitors to REI, and on providing an overview of how COVID-19 has impacted on outdoor activities and experiences, and the market for it.
- We suggest further research for each competitor identified, as well as a deeper analysis of COVID-19 impact on the outdoor industry.
- Please advise if there are any companies not identified in the early findings for which a competitive analysis is required.
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