Hasta La Gadget!

As a result from an anti-trust settlement from a lawsuit filed back in 2005, retailers now have the ability to charge customers up to 4% of their purchase cost for using a credit card, as of January 27. The “checkout fee” applies to only credit cards — not debit cards — and can only be implemented in 40 states in the US, with California, New York, and Texas being some of the states where the surcharge is illegal.

Before you get too bent out of shape, be aware that it’s the retailers who have the power whether or not to implement a surcharge, and if they do, they have to choice of deciding what percentage, but only up to 4%. While it’s not yet known how many retailers plan on implementing a credit card fee at checkout, we can’t imagine the backlash of such a decision being subtle.

The new fee comes from an anti-trust lawsuit filed by retailers who were being tricked by credit card companies that were all discovered to be fixing the fees that retailers pay to process credit cards. Essentially, every retailer pays a fee to a credit card company for the ability to accept that particular credit card in its stores. This fee would basically just be passed on to customers.

It’s a questionable practice, but it seems that it’s been given the go-ahead. Retailers will be forced to notify its customers if they do end up implementing a credit card surcharge, so there’s no risk of being surprised when you get to the checkout counter. Other than that, though, it looks like cash and debit cards may become more popular as a result. Only time will tell.

[via Reuters]

Retailers can now charge you to use a credit card is written by Craig Lloyd & originally posted on SlashGear.
© 2005 – 2012, SlashGear. All right reserved.

If you still love shopping for books by hand at your local Barnes & Noble, enjoy it while you can, because the company has announced that its cutting its store force by 30% within 10 years, lowering the total number of bookstores for the company down to 450 to 500 stores in the US. Right now, the company operates just under 700 locations, with a separate store chain of 675 college-focused stores.

CEO Mitchell Klipper confirmed the news today, saying that the company expects to close 20 stores per year on average. In the past decade, the company shut down approximately 15 stores per year on average, but they were also opening at least 30 stores per year in new locations. However, that process met a roadblock a few years ago. The company’s peak number of stores at any one time was 726 in 2008.

While the closing of 30% of its stores is certainly not good news, Klipper tries to see the good things out of the downsize. He says “it’s a good business model,” because “you have to adjust your overhead, and get smart with smart systems.” It’s certainly not what the company hoped for by any means, but Klipper says that business models change throughout the years and you have to learn to adjust.

Barnes & Noble’s brick-and-mortar store business has been drying up more and more as consumers shift toward Amazon and buying ebooks online, but Klipper is confident in his new business plan, and while the company is closing many of its stores, they’re expanding their digital book arsenal to make up for the loss.

UPDATE: We received word from a Barnes & Noble spokesperson about the future closings of their various stores, and they note that the company “has not adjusted its store closing plan whatsoever,” and that the numbers being reported “are consistent with analysts’ expectations.” The spokesperson mentioned that “in 2012, Barnes & Noble opened two new prototype stores and in 2013 plans to test several other prototypes, as well,” saying that they are “fully committed to the retail concept for the long term.”

[via WSJ]

Barnes & Noble to close 30% of stores within the decade [UPDATE] is written by Craig Lloyd & originally posted on SlashGear.
© 2005 – 2012, SlashGear. All right reserved.

HMV’s 91-year long tenure on the British high street might not be coming to an end after all, as HMV Canada’s owner has mounted a rescue attempt. The rescuer in this instance is Hilco, which previously picked up Polaroid’s brand and paired it with famous insolvency specialist Lady Gaga. BBC News is reporting that Hilco scored a cut-price rate on the £176 million ($278.8 million) corporate debt and has already received cheering words from the film and music industry. After a bout of uncertainty, HMV has also said it’ll once again accept gift cards in its stores.

[Image credit: London Express / Getty Images]

Filed under: Misc

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Source: BBC News, (2)

Ever since we first saw Leap Motion’s hyper-accurate gesture control system in person, we’ve been waiting for the time when we can walk into a store and buy one. Sure, devs have been able to buy Leap controllers for some time and it won’t be long before Leap’s tech is baked into retail laptops, but now the general public’s going to get the chance to grab the standalone controller, too. That’s right, folks, this spring, the Leap Motion Controller will be available nationwide at any Best Buy store, with pre-orders starting in February. So, it won’t be long before you can stroll on down to the nearest big blue box and pick one up — assuming there’s still one within strolling (or driving) distance.

Continue reading Leap Motion goes retail: motion controller to be sold exclusively at Best Buy

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Another hit for the high street, with UK retailer HMV announcing it has gone into administration and will seek a sale, after its CD and DVD business failed to sufficiently compete with internet merchants like Amazon and iTunes. The 239 UK stores will continue to operate while the hunt for a buyer is on, the company said, though if you’ve any HMV gift vouchers in your sock drawer, there’s bad news: HMV won’t be accepting any existing vouchers, nor issuing any more.

“The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection” HMV said in a statement, “and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect.”

HMV first opened in London in 1921, but the growth in low-cost internet sales of CDs and DVDs and, subsequently, digital music and video content took its toll on the retailer. The company later attempted its own digital downloads system, but a sluggish start negated whatever impact brand recognition might have had on the business.

Trading in HMV shares has been suspended, but were at £1.10 apiece ($1.77) at close. Earlier in January, the retailer had kicked off a huge 25-percent sale, expected to last a full month, in a move that worried investors that holiday 2012 sales had underperformed.

The sale of the music business isn’t the only media failure in HMV Group’s recent past. The company previously owned bookseller Waterstone’s, which it sold in 2010 to a private capital fund after struggling to compete with rising ebook sales.

[via BBC]

HMV collapses: CD retailer in administration as internet takes its toll is written by Chris Davies & originally posted on SlashGear.
© 2005 – 2012, SlashGear. All right reserved.