of consumer non-T&E purchases took place online—compared with 24% last year. The change may be attributed to the boost in online shopping as consumers spent more time at home this summer than in previous years. Overall, 68% of total non-T&E global billed business took place online, encompassing all of Amex's client groups, pointing to the overall trend of digital purchases.
Ahead of the holiday shopping season, Amex should adapt its rewards strategy to focus more on retail. Amex has a bevy of rewards across its credit cards, allowing consumers to redeem rewards points at checkout for shopping discounts.—adding rewards centered around ecommerce and delivery, two sectors that grew substantially throughout the pandemic—to accommodate consumer purchasing needs and preferences.
Amex can continue to provide targeted rewards offerings, perhaps by expanding existing non-T&E rewards to lean more heavily into as the holidays approach, to boost its payments volume and revenues and further cement its recovery into Q4. Join other Insider Intelligence clients who receive this Briefing, along with other Payments & Commerce forecasts, briefings, charts, and research reports to their inboxes each day.
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