REI selling Co-Op brand ebikes to REI Co-Op members only during October 2021

[Dewey]

Co-op Cycles Bikes | REI Co-op

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https://www.facebook.com/REI/photos/a.113843106483/10159891405986484/

REI are responding to the bicycle supply shortage by reserving sales of its in-house Co-Op brand ebikes and bicycles to REI Co-Op members only during the month of October 2021. Co-Op membership costs $20

 

[theemartymac]

Makes sense. They are a Co-op after all, meaning the members get to make the rules. They've been hit hard by COVID like the others in retail, so prioritizing the members, and encouraging new sign ups are sound strategies for now. It's a tough market for a Co-op that may not have the leverage and capital support of the larger retailers.

Hopefully they don't go the way of MEC up here in Canada, who had to sell out to a US investment company recently to keep the doors open.

 

[tomjasz]

Co-Op membership costs $20

BUT they pay out dividends every year. I'm a member since 1968.

 

[PatriciaK]

BUT they pay out dividends every year. I'm a member since 1968.

We're members too, a great little investment since 1977!

 

[Atlgaga]

We're members too, a great little investment since 1977!

And the $20 is once per lifetime - not annual.
This year, REI did not make a profit, so technically there is no dividend. BUT they are issuing "rewards" equivalent to the dividend. The dividend is historically 10% of full price purchases during the year. So if you want to buy a bike from them, you would be advised to be a member in any event! And if you use the REI credit card, you get a 5% cash back credit on that card for all REI purchases - full price or otherwise.

If you spend over $200 at REI, why wouldn't you want a membership???? Better than free - it will pay you back.

 

[Comfortably Numb]

Hopefully they don't go the way of MEC up here in Canada, who had to sell out to a US investment company recently to keep the doors open.

I've been an MEC member for ages. The flagship store in Vancouver had great staff. Like the climbing gear department had climbers working there. Duh. Since moving out to the suburbs I find the staff in some of the other stores real lacking. Perhaps that's why MEC had to sell out.
I'm not sure this is entirely related to MEC though. I am in bike stores all the time and it's tough to find staff members who know much more than absolutely nothing about their products. Granted, I always do my homework online beforehand so I usually know more about the things I am looking at buying than the odd guy, but often the guy you deal with knows absolutely ZERO when quizzed. The training and hiring practices (and expectations) must be real lax these days. IMO, they're hiring the wrong people and that's a management/ownership problem. CN

 

[Camasonian]

Why would anyone buy a $2000 bike from REI and not become a member? You pay the $20 lifetime membership fee and get 10% off the price in the form of the annual dividend. So on that one purchase alone you come out $180 ahead.

 

[PatriciaK]

Why would anyone buy a $2000 bike from REI and not become a member? You pay the $20 lifetime membership fee and get 10% off the price in the form of the annual dividend. So on that one purchase alone you come out $180 ahead.

Yep, and any time you need maintenance or repair, members get a 10% discount.