Denver's Wilderness Exchange, a 26-year-old local REI rival, is set to close its doors on March 29 after 26 years of serving outdoor enthusiasts in Denver. The Outdoor Industry Association (OIA) reported that despite a record 175.8 million people in 2024, the industry experienced a modest 1% growth in 2024 with outdoor retail sales totalling $28 billion. This is due to a decrease in equipment sales, price-sensitive consumers, inflationary pressure, higher rents, and competition from big-box retailers and online sellers. Outdoor retailers have also faced increased competition from larger retailers and retailers. The industry is experiencing a participation paradox as casual product categories drive more sales than technical gear, reflecting a shift in consumer behavior. The retailer opened in 2000, the same year that REI opened its Denver flagship.