REI Ditches Its Lifetime Warranty: Good or Bad Idea? Rugged outfitter REI recently jettisoned its lifetime warranty -- putting an end to being able to return decades-old camping gear. Think it'll be a good strategy for the retailer?
By Diana Ransom
Opinions expressed by Entrepreneur contributors are their own.
Burned up camping equipment, 14-year-old backpacks and energy-bar wrappers. This is just a smattering of merchandise that companies including REI, L.L. Bean and the like have (perhaps grudgingly at times) taken back over the years. For one retailer, those days are gone.
With the hopes ditching its image as a sucker, this summer the Seattle-based rugged outfitter REI, which customers have jokingly referred to as "Rental Equipment Inc." "Rent Every Item," jettisoned its lifetime warranty return policy -- giving customers just a single year to return or exchange items.
The question is, will this help or hurt the company? Please vote on the answer below that best captures your viewpoint on REI's policy change.
