Amazon, 7-Eleven and about 30 other retailers that opted out of a swipe-fee settlement with Visa and MasterCard have filed a lawsuit against the credit card companies in federal court. "Once Visa and MasterCard acquired substantial market power over merchants, they maintained it by forcing merchants to pay even higher interchange fees to continue to fund these price-fixing schemes," according to the retailers' complaint.
Nearly 60% of tweens want a customized product and roughly 1 in 3 wants to customize it themselves, according to a report from the Intelligence Group. Parents of tweens say they listen to their children when it comes to movies, travel and food shopping, while 28% of tweens say they are already buying products in online stores, according to the report.
Nordstrom is an iconic luxury department store brand that's increasingly branching out into the digital realm with acquisitions such as its $270 million purchase of HauteLook in 2011 and investments in online retailer Bonobos and social e-commerce startup Wantful. "That sounds a little bit cliché[d], but we follow a customer-driven strategy here and...online is just a growing piece of that," spokesman Colin Johnson said.