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JANUARY
Unchecked Credit Card Fees Halted In early November, the Government of Canada announced voluntary agreements with VISA and MasterCard to reduce their respective credit card fees for consumer cards to an average effective rate of 1.5 per cent for a period of five years. “This is an important first step towards ending the escalation of credit card fees that have been ballooning in Canada for the past seven years,” said Diane Brisebois, president and CEO of Retail Council of Canada (RCC). Previously, the fees charged by credit card companies to merchants were not regulated by the government. The network providers and banks were free to charge whatever rates they liked, and retailers simply had to bear the increased cost to their business. “The voluntary agreements to lower interchange fees by an average of 9.3 per cent is a good start,” said Brisebois, “but even at these rates, Canadian retailers are still paying some of the highest credit card fees in the world. For example, merchants in France pay 0.28 per cent of the cost of purchase compared to what will now be an average of 1.5 per cent in Canada. These costs are ultimately borne by all consumers whether they are paying with cash, debit or credit.” The government’s announcement included an assurance that all merchants receive a reduction in credit card fees, and that a greater reduction be provided for small and medium-sized enterprises. The agreements will include a provision for verification by an independent third party to ensure compliance. For nearly 10 years, the RCC has been lobbying the government to regulate credit card fees. “We started with the Stop Sticking It To Us Coalition in 2008, and have continued unapologetically despite enormous efforts on the parts of the banks and the networks to discredit our fight,” said Brisbois.
Republic of Retail Launches Online Ordering Platform A new website for retailers to source thousands of consumer goods was launched this past fall. RepublicOfRetail.com is a tradeexclusive marketplace designed for independent retailers to source and replenish product assortments from participating vendors. A true “republic”, the website’s features and functions were custombuilt based on retailer input and feedback from a vendor advisory team. The impetus for the project, headed by industry veteran Leigh Walters, was the lack of an online marketplace where retailers could easily source and purchase products from multiple Canadian wholesalers.
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“A ‘Product as Hero’ approach to search results, with an emphasis on new, provides retailers with meaningful information,” said Walters. “The website was created to eliminate the frustration of using large search engines to find products, reduce the time it takes to find product and vendor information, provide store owners with the details they need to make a confident buying decision and connect directly with vendors to establish new relationships and place their orders.” The new online platform also generates qualified leads for participating vendors. www.republicofretail.com
Toronto Gift Fair January 25 – 29, 2015 www.torontogiftfair.org Mode Accessories Show January 25 – 27, 2015 www.mode-accessories.com Christmasworld, Paperworld, Creativeworld January 30 – February 3, 2015 www.messefrankfurt.com NYNow! January 31 –February 4, 2015 www.nynow.com FEBRUARY Atlantic Craft Trade Show February 7 – 9, 2015 www.actsshow.ca Atlantic Retail Fair February 8 – 11, 2015 www.atlanticretailfair.ca Ambiente February 13 – 18, 2015 www.ambiente.messefrankfurt.com Alberta Gift Fair February 22 – 25, 2015 www.albertagiftfair.org MARCH International Home & Housewares Show March 7 – 10, 2015 www.housewares.org Vancouver Gift Expo March 15 – 16, 2015 www.vancouvergiftexpo.com Quebec Gift Fair March 22 – 25, 2015 www.quebecgiftfair.org