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.”