Poll question: Swipe fee fury?
HBSDealer’s weekly poll question examines transaction fees at the point of sale.
It’s a well-known fact that banks are pretty good at making money. And one banking industry revenue stream is fueled by the retail industry: swipe fees.
According to the National Retail Federation, swipe fees – the percentage of each card transaction that banks take from retailers – average about 2% of the sale. On some premium rewards cards, the fee can jump up to 4%. Factors such as the merchant’s card volume affect the fee, also.
Recently, Kroger Co. is standing up to escalating fees. The company announced it will no longer accept Visa credit cards at 26 stores that operate under the Foods Co. banner. And it is reportedly considering a wider ban on the cards.
Does your company struggle under the weight of excessive swipe fees? Are the fees out of alignment? Let us know your thoughts. Take the poll on the right side of the screen (or scroll down your mobile device). Share additional thoughts here.
In Stores Now: Pick-up lockers
The Home Depot has big plans for the little boxes.
The world’s largest home improvement retailer plans to have product pick-up lockers in all of its stores in the next few years.
The lockers are designed to boost customer convenience, and make it for easier customers to shop online, and pick up in store.
Just under half – 45% — of Home Depot’s online orders are picked up at the store. According to the company, the lockers simplify the process, and save customers time. For products that are too big to fit in the locker – less than 40% of the products sold through the Buy Online, Pickup in Store program – customers can turn to the conventional service desk.
Tractor Supply and the dog days of summer
Tractor Supply is hosting a variety of events, supply drives, and specials in August dedicated to pets.
Tractor Supply Company is dedicating the entire month of August to appreciation for animals.
The surging farm and ranch and home improvement retailer will host animal-centric happenings and deals as part of “Out Here With Animals,” a monthlong event for animals of all kinds and the people who care for them.
Events include pet supply drives at stores nationwide with customers invited to support local shelters with new pet food, cleaning supplies, beds, scratching posts, leashes, bowls and toys. The items will be donated to nearby rescues and shelters.
In addition to the supplies drive, Tractor Supply will host pet adoption events across its stores coast to coast on Aug. 25. Animal organizations interested in participating are encouraged to sign up online at or by contacting their local Tractor Supply store. Registration closes Aug. 22.
“Out Here With Animals allows communities to come together to celebrate their pets while supporting the great work of their local animal organizations,” said Mary Lawley, vice president of store administration at Tractor Supply Company. “Whether you have a dog, cat, horse, pig or goat, we hope families will bring their leashed, friendly pets to the store to show how special their animals are and help us find homes for the local adoptable animals that deserve a family too.”
Tractor Supply is also shining a spotlight on animal organizations through the return of its popular “Rescue Your Rescue” social media contest. The retailer will donate a total of $25,000 in grants to 10 animal nonprofits that deserve a boost. Customers are encouraged to nominate their favorite shelters Friday, Aug. 3 through Wednesday, Aug. 8 on Tractor Supply’s Facebook page.
Along with events that celebrate and support local pets, Out Here With Animals will feature a sale on premium pet and animal products and brands.
Tractor Supply Company, based in Brentwood, Tenn., operates more than 1,725 stores in 49 states. The retailer also owns and operates Petsense, a small-box, pet specialty supply retailer with 174 stores in 27 states.