AMEX Trendex - October 2021
Consumers Embracing the Holiday Spirit and Welcoming Back Traditions Put on Hold Last Year
As new holiday spending, entertainment, and travel trends emerge, holiday essentials put on hold by the pandemic will also return: 71% of consumers surveyed indicate that they will celebrate the holidays with more family members and loved ones in-person than last year and 38% of consumers surveyed agree they will spend more on the holidays this year in anticipation of a more celebratory season.
- Nearly half of consumers surveyed (49%) plan to travel on or before the Tuesday prior to Thanksgiving (November 23, 2021) compared to just 29% who plan to travel on Thanksgiving Day (November 25, 2021)
- 58% of respondents have saved more money for travel in 2022 due to the pandemic and 55% of respondents plan to take one to three trips in 2022
Travel Recovery Insights
In this webinar, Jake King, VP of Merchant Digital, Data, and Analytics, shares American Express proprietary insights to support merchants on the path to recovery. The curated content addresses the following key questions:
• What does the Travel recovery look like?
• Who is driving recovery?
• What can we anticipate in 2022?
Data & Insights
Back to Blue Skies - Corporate Travel Report
The new Back to Blue Skies report from American Express (NYSE: AXP) and American Express Global Business Travel (GBT) finds that business travel is an important driver in building in-person connections, a company’s culture, career development, and can lead to increased profit and revenue. Corporate travelers and decision makers at U.S. businesses of all sizes and across a variety of industries participated in the survey, which highlights the sentiment around the benefits of business travel.
Key insights from the report include:
- Anticipated Return: 86% of business travelers surveyed said when it becomes safe, they are looking forward to getting back to business travel and 83% of decision makers are optimistic that business travel will return to previous levels over the next two years.
- Future Travel: 7 in 10 (69%) decision makers surveyed believe increased remote work will lead to more business travel in the future.
- Business Growth: More than four in five decision makers surveyed said that business travel leads to higher profit (85%) and revenue (85%).
- Professional Growth: 85% of business travelers say when they're exploring new job opportunities, the ability to travel for work is important. They cite business travel playing a valuable role in their professional development, helping them perform better at their job (82%) and giving them more job fulfillment (83%). 90% of decision makers agree that business travel helps advance employees’ professional growth.
- Employee Engagement:87% of decision makers cite business travel as a way to reinvigorate employee engagement.
- Recruitment: Decision makers overwhelmingly agreed that business travel is important to attract (84%) and retain (83%) top talent.
82% of business travelers and 79% of corporate travel decision makers say the benefits of in-person events and meetings outweigh the convenience of virtual participation
2021 Global Travel Trends Report
Top insights include:
- Strong Pent-Up Demand for Travel: 87% of people surveyed said that having a trip planned in the future gives them something to look forward to, 76% of respondents are creating their destination wish list for future travel even though they might not be able to travel yet and 63% of respondents said that they are saving their credit card points so they can go on a vacation once they feel comfortable traveling.
- Ready to Book Now: 56% of respondents said that they miss traveling so much that they are willing to book a trip now even if they might have to cancel it in the future.
- Rise of The Digital Nomad: 54% of respondents said that the freedom and flexibility of being able to live and work while traveling the globe is more appealing now than it was prior to the pandemic.
- Safety is a Priority: 65% of respondents said they plan to travel after they and their family members have received a vaccine for COVID-19.
- Privacy is the New Ultimate Luxury: 75% of respondents agree that the experiences that offer ultimate privacy is becoming a key sought-after feature of luxury travel.
- Increase in Sustainable Travel: 68% of respondents agree they are trying to be more aware of sustainability-friendly travel brands to support.
A Guide to Navigating COVID-19
American Express is pleased to introduce Business Class, a modern business education. In light of COVID-19, we’re providing essential know-how to help businesses adapt to the current environment. Curating educational resources and curriculum catered to the needs of Small Business Owners (SBO). Visit the Business Class site for the latest advice, insights, and sign up for their newsletter.
Newsletter: The Business Class Daily Edit is the first of its kind to aggregate SBO specific resources and external news most relevant to small business owners, the essential insights to help manage the current environment.
Check out the resource hub for featured content, including:
- 4 Things To Do Before Reopening Your Business
- How to Plan for Your Employees Return to the Office
- Updating Spending Policies from Home
- How to Support Employees Sick with COVID
American Express - COVID-19 Resources
- Contactless Payments
- Merchant Insights Hub - webinars, videos, articles and more to help manage and grow your business
- Optional Signature at Checkout
- On Demand Webinar: Managing Disputes in the Hospitality Industry
- Managing Your Disputes Online Guide
- How to Manage & Help Prevent Disputes
American Express makes it easy, safe and rewarding for consumers and businesses to purchase the things they need and for merchants to sell their goods and services. American Express provides innovative payment, travel and expense management solutions for individuals and businesses of all sizes. Most of all, they help their customers realize their dreams and aspirations through benefits, access to unique experiences, business-building insights, and global customer care.Learn more
Enhancing Your American Express Experience
You can use this guide to help find all the information you need about new and ongoing servicing with American Express.Learn More
EU/EEA Regulation Guidelines
New EU/EEA regulation go into effect on September 14, 2019 which impacts all EU/EEA merchants accepting Card Payments, regardless of Card schemes. Are you prepared?
Please review the following helpful information and take the necessary actions to ensure you can continue to accept American Express Card Payments.