STORES Magazine - June 2011 - (Page 8)

CONSIDER THIS / PRESIDENT’S PAGE Saving Fee Reform BY MATTHEW R. SHAY L The Voice of Retail Worldwide STORES is published by NRF Enterprises Inc., a subsidiary of National Retail Federation Inc., 325 7th St. NW, Washington, D.C. 20004. (202) 783-7971 FAX (202) 737-2849 ast month, NRF announced the most exciting advocacy campaign since I joined the organization a year ago. With coverage from major news outlets like The Wall Street Journal, CNBC and Fox News, NRF unveiled a 60-day lobbying, grassroots and media campaign to ensure swipe fee reform takes effect as planned July 21. This reform will save our industry more than $1 billion a month by reducing the fees banks charge to process debit card transactions by an estimated 70 percent. But the banking industry has launched a massive multimilliondollar misinformation campaign intended to kill reform before it can even take effect. NRF doesn’t intend to let that happen, and has responded with a multi-faceted, nationwide campaign that will include: • An intensive grassroots effort to mobilize retailers through NRF’s membership, that of our National Council of Chain Restaurants division and state retail associations; • NRF’s annual Washington Leadership Conference June 20-22, during which hundreds of merchants will fly in to meet with members of Congress and urge that the reforms go through; • A campaign including both inside-the-beltway print and radio ads and hundreds of thousands of dollars in radio ads in key markets nationwide; • An aggressive media relations campaign including briefings and interviews with national and local news outlets, and nationwide placement of op-eds and letters to the editor; • Leveraging social media and viral video to educate legislators and the public; and • A new “Take Action” center at where merchants, their employees and consumers can get involved. Our industry has a major economic footprint — it’s responsible for one in every five American jobs and two-thirds of our nation’s economic activity — but until now hasn’t had an advocacy footprint to match. This campaign is the first since the Board approved our new strategic plan earlier this year, and marks an important step forward in our mission to significantly bolster our presence in Washington and beyond. I’m happy to report that, just hours after our news briefing, Sen. Jon Tester (R-Mont.) — sponsor of legislation to delay swipe fee reform — announced he was amending the proposal from a two-year delay to 15 months. Any delay at all is too long, but the move shows our efforts are already having an effect. We have gotten this far through years of hard work, and cannot let up now. One final push is needed these last few weeks. Retailers need to come to our fly-in, write letters to newspapers read by their senators and go to to send e-mails to lawmakers. We are too close to seeing reform enacted to allow banks to take this landmark reform away from the Main Street retailers who are the lifeblood of our economy. CHAIRMAN OF THE BOARD Terry J. Lundgren, Chairman, President and CEO, Macy’s, Inc. VICE CHAIRMEN Stephen I. Sadove, Chairman and CEO, Saks Incorporated Kip Tindell, Chairman and CEO, The Container Store PRESIDENT & CEO Matthew R. Shay SENIOR VICE PRESIDENTS Mallory B. Duncan, General Counsel Tita Freeman, Communications & Public Affairs David French, Government Relations Michael G. Gatti, Member Relations Carleen C. Kohut, COO Susan Newman, Conferences NRF Divisions Association for Retail Technology Standards EXECUTIVE DIRECTOR Richard E. Mader (202) 744-8217 National Council of Chain Restaurants EXECUTIVE DIRECTOR Rob Green (202) 626-8187 FAX: (202) 626-8185 Retail Advertising & Marketing Association EXECUTIVE DIRECTOR Michael G. Gatti (202) 626-8117 FAX: (202) 737-2849 INTERIM EXECUTIVE DIRECTOR Joan Broughton (202) 626-8190 325 7th Street, NW Suite 1100 Washington, D.C. 20004 All articles published in this magazine represent solely the individual opinions of the writers, and not necessarily those of the National Retail Federation. 8 STORES / JUNE 2011 WWW.STORES.ORG http://WWW.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - June 2011

Stores - June 2011
Editor’s Page
President’s Page
Retail People
CEO Compensation
Customer Service
Business Strategy
What We’ve Learned
Loss Prevention Supplier Directory
Customer Rewards
Business Management
Social Media
Planning Solutions
Loyalty Programs
Business Intelligence
Store Operations
Divisional Update
NRF News
Point of View
Retail Industry Calendar
End Cap

STORES Magazine - June 2011