Amazon has a new weapon in its war on brick-and-mortar retail – credit cards

Curated by Paul Helmick

I’m a Technology CEO and Experienced Entrepreneur. I love helping people use technology to grow their business.

The environment for brick-and-mortar stores is abysmal – the rise of e-commerce and titanic shifts in how shoppers spend their money has hit malls and stores hard
Visits to malls declined by 50% between 2010 and 2013
Amazon in contrast has continued to eat up market share
The company accounted for 53% of onlines sales growth in the US in 2016
For every new dollar American consumers spent online, Amazon took 53 cents of it
In January Amazon renewed its credit card partnership with JPMorgan, and rolled out a new “Prime-only 5% cash back incentive for purchases on Amazon”
Amazon’s new Chase card is expected to drive more spend towards Amazon and away from retailers as 82% of prospective new Amazon card owners plan to shop “more” or “a lot more” on Amazon than they currently do.”

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