Spending on travel and entertainment and goods and services saw strong growth driven by Amex’s rewards revamp—and the issuer can keep riding this wave by gearing rewards and solutions to younger consumers.

After the coronavirus pandemic forced issuers to adapt rewards, enhance forbearance, and build out digital tools to cope with a volume hit in 2020, they’re looking to reimagine their offerings in the future to add new customers and regain primary card status.

US consumers want Venmo to offer rewards

Offering a loyalty program is an effective way for retailers to acquire new customers, but it also fosters relationships for years to come. Setting up the framework, however, can be challenging—especially if retailers decide to handle everything in-house.

This is on top of existing rewards offered by both cards, like QuickBooks integration, rental car insurance, and the ability to spend above the credit limit depending on factors like credit record and payment history.

Rewarded ads incentivize users to view or interact with the ad by offering in-game rewards like credits, extra lives, or levels. These ads are also optional for users to engage with, meaning gamers can choose whether they watch the video in the ad in exchange for the reward on offer.

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Home improvement retailer The Home Depot is continuing to build on its loyalty program to create more personalized in-store and online experiences.

Bank of America launched the Unlimited Cash Rewards credit card, which offers a flat 1.5% cash back on all purchases. The card carries no annual fee and is also tied to BofA’s relationship rewards program, which lets eligible customers with other accounts at the bank earn up to 2.62% cash back. Chase announced the Slate Edge, a revamped version of the discontinued Slate Card.

Amazon could use the native crypto as a rewards tool—customers could earn points redeemable in crypto or get perks for using crypto on Amazon.com, helping encourage use and increase sales volume. An Amazon-backed crypto could also be integrated into the etailer’s cobranded cards as crypto rewards cards gain traction.

As users complete tasks within the app, they earn rewards called YuCoins, which they can exchange for vouchers from the likes of Amazon and Asos. The impact: YuLife now provides $15 billion of coverage and has grown 10-fold in the last year. Its customers include high-profile names like Co-op and Capital One, as well as fellow fintech Curve.

To maximize growth, issuers will likely launch card products that cater to consumer trends—like flexible rewards, as Citi did with its Custom Cash Card. Others may also dip back into travel and entertainment rewards, considering consumers’ eagerness to travel—78% of global consumers want to travel in 2021, per an American Express survey.

Article: American Express delivers explosive Q2 results driven by rewards revamp. Article: Revolut takes a junket into travel booking with a 10% cashback product.

Among US TV viewers surveyed, 36% said they would more likely pay attention to ads if there were rewards for watching. The same percentage said they would if there was only one ad per break, and 34% said shorter ads would be more captivating. More like this:. Report: Q2 2021 Digital Video Trends. Article: US upfront CTV ad spending will surpass $4 billion this year.