Retail Drinks Australia has bolstered its member services offering, introducing a new program to help retailers save on merchant fees.
The Retail Drinks Merchant Services Pricing Comparison Service was created in partnership with Payments Consulting Network and is a bespoke and unique program that anticipates significant savings for retailers.
Michael Waters, Retail Drinks CEO, described the need for the service, and said: “For an independently owned and operated retail liquor store, annual merchant fees can range from $5,000 to $25,000 or more, depending on store size and turnover. These costs have steadily increased, today representing a ‘top five’ cost of doing business, behind purchasing stock, wages, rent, electricity, or business insurance.”
“Our recent member pilot of several small, medium and large liquor stores with current average annual merchant fees of $11,215, resulted in an average saving of 33.75 per cent ($3,785), with savings ranging from 12 per cent to as high as 45 per cent.”
Next week, Thursday 28 July, Retail Drinks will be hosting an Industry Insights Webinar about the new service, which is free for anyone to attend and will be hosted by Waters alongside Mangala Martin, Managing Director of Payments Consulting Network.
The webinar will provide a market update, including on cards, pricing and payments, as well as an overview of the new Pricing Comparison Service, including case studies and results from the pilot of the program.
The webinar will start at 10am AEST July 28, and you can sign up here.
Find more information about the new service through the latest column from Michael Waters and Retail Drinks in the July issue of National Liquor News.