REI justifies the higher prices with their 'membership dividend'... a store credit issued at the end of each fiscal year that returns a percentage of the member's purchases (not including sale items). If you ever step into one of their stores I'm sure you'll hear all about their membership benefits from every salesperson within earshot.
It's like $15 for a lifetime membership... and their flock of green vested employees (all duped into working for chickenfeed in exchange for the ability to order product at cost, that they can never afford because they work for chickenfeed) has been drilled in every possible response to every conceivable reservation a customer might have about purchasing membership.
It's a scary joint... like the mini-WalMart of the outdoor industry. Their website is thorough, and they are data rich (lots of good marketing data comes from all those memberships), so I wouldn't say they were behind the curve... more like they are just really good at capitalizing on suckers.