REI Co-op

REI, or Recreational Equipment, Inc., is a retailer of outdoor equipment and clothing with headquarters in Kent, Washington. REI is a consumer cooperative with 165 stores throughout 39 states and Washington, D.C., with 19 million lifetime members.

When outdoor enthusiasts in the Seattle region decided to combine money to buy equipment at cheaper group costs in 1935, REI's concept was born. The co-op was originally established in 1938, with a $1 membership fee that allowed anyone to join. Today's lifetime membership costs $20 and includes an annual dividend based on the member's purchases for the year. Over time, REI changed its business approach to appeal to a broader range of customers than its initial, stauncher clientele.

Yet, it can be challenging to find the precise item you're looking for, as is typical with many marked-down things. Popular items frequently sell out quickly, and many of those that do are only offered in a very small number of sizes and colorways at the outlet. Although REI is currently one of the web's most user-friendly bargain sites, these issues aren't unique to it. Members should be aware that things on sale do not contribute toward your annual dividend.

Founder: Lloyd and Mary Anderson

Founded year: 1938