News

Outdoors retailer shuttering doors on Black Friday

October 31, 2017

For the third year in a row, outdoors retailer REI won't be open on Black Friday.

Its CEO claims the strategy is helping the business and is a path other retailers should take, according to a Business Insider report.

Selling merchandise on the Friday after Thanksgiving is hurting retailers, claims REI chief Jerry Stritzke, and is promoting what he told BI is "rampant consumerism."

"I think retail has really moved toward a tipping point," Stritzke told BI. 

His view, according to one industry analyst, may be catching on.

"The whole idea of Black Friday and Cyber Monday ... is becoming less relevant as the consumer is generally accustomed to great deals, or at least getting a deal," Josh Elman, a consumer and retail analyst with Nasdaq Advisory Services, told BI.