1 minute read
Business News
by 55 North
TRADE ASSOCIATIONS
Newsquest cuts retailer margins
NFRN reacts angrily to news that Newsquest is reducing retailers’ margins at the same time as increasing the price of its regional and local titles.
Publisher Newsquest is reducing retailers’ margins at the same time as increasing the price of its regional and local titles.
The daily editions of the Worcester News, Swindon Advertiser, Bolton News, Flintshire Leader, and Wrexham Leader went from 75p to 80p on 8 November. Copies of the Oxford Mail rose 7p per day to 85p and the price of the Lancashire Telegraph increased by 3p to 75p per edition.
Most of Newsquest’s weekly titles are also subject to increases of 5p or 10p per copy. In addition, the publisher intends to reduce its terms to retailers from 15% to 14.5% in the case of most of its titles.
NFRN Head of News and Connect, Brian Murphy, said: “Other major publishers including Reach, News UK and GNM have all included pro rata terms for retailers as part of price increases to their titles. These publishers recognised and publicly acknowledged the vital part independent newsagents and retailers have played to maintain and increase sales of newspapers during the Covid pandemic.
“The decision made by Newsquest is nothing short of disgraceful and shows a total lack of appreciation for the independent retail sector.”
The NFRN warned that its members affected by the changes may think twice about continuing to stock these titles.
CARD-ACQUIRING MARKET REVIEW REPORT WELCOMED
The Association of Convenience Stores has welcomed the publication of the Payment Systems Regulator’s (PSR) final report into the card-acquiring market review.
The report recognises the need to encourage retailers to search and switch or negotiate a better deal with existing providers and to reduce the obstacles to retailers getting a better deal.
ACS Chief Executive, James Lowman, said: “We are calling for the Payment Systems Regulator to further investigate and remedy card scheme fees to ensure the market functions well for acquirers, retailers and ultimately consumers.”
The PSR will launch a remedies consultation in early 2022.
