NRF

Retailers Appeal Credit Card Swipe Fee Settlement

Retailers Appeal Credit Card Swipe Fee Settlement

The National Retail Federation is appealing the approximate $6 billion class-action settlement approved by a U.S. District Court concerning credit card swipe fees.

The lawsuit was initially filed by merchants against Visa and MasterCard nearly a decade ago. The merchants claim that the two major credit card companies charge merchants excessive and exploitative fees for accepting the payment cards from customers.

Retailers Lose Billions in Holiday Return Fraud

Retailers Lose Billions in Holiday Return Fraud

Retailers will lose about $3.39 billion to return fraud this holiday season, as part of a total $8.76 billion expected overall in return fraud for 2013, according to the National Retail Federation’s 2013 Return Fraud Survey.

The survey, which was completed by loss-prevention executives at 62 retail companies, notes that 5.8% of holiday returns are fraudulent, up from 4.6% last year.

NRF Forecasts Modest Sales Gains This Holiday Season

NRF Forecasts Modest Sales Gains This Holiday Season

Sales in November and December are expected to increase 3.9% to $602.1 billion, according to the National Retail Federation. The forecast is over 2012’s actual 3.5% holiday season sales growth and higher than the 10-year average holiday-sales growth of 3.3%.

“Our forecast is a realistic look at where we are right now in this economy—balancing continued uncertainty in Washington and an economy that has been teetering on incremental growth for years,” says NRF president and CEO Matthew Shay.

National Retail Federation Forecasts 3.4% Increase in Retail Sales for 2013

National Retail Federation Forecasts 3.4% Increase in Retail Sales for 2013

General retail-industry sales will increase 3.4%, according to the National Retail Federation’s recently released 2013 economic forecast. The projection follows the recent 3% growth seen in holiday sales, as well as the NRF’s preliminary projection of 4.2% growth seen in 2012.

Online sales are expected to grow between 9% and 12%—possibly just above the 11.1% growth seen in online sales this past November and December—according to Shop.org, NRF’s digital division.

Social-Media, Mobile Shopping Becoming the Norm

Courtesy of Pinterest

Shoppers’ use of Pinterest to connect to retailers has exceeded both their Facebook and Twitter use, according to the 2012 “Social and Mobile Commerce Study”—a joint research project by the National Retail Federation’s Shop.org division, digital business-analytics firm comScore and global-strategy and management consulting firm The

NRF Addresses Mobile-Payment Regulation

thinkstock.com/Hemera Collection

The National Retail Federation has urged the Federal Trade Commission to move cautiously in establishing regulations for mobile payments, and said any rules that are adopted should parallel those for the underlying form of payment and not be specific to the technology.