Talking Retail Trends with American Express and the National Retail Federation

Shoppers still love to browse, click, and add to cart, but meaningful interaction is the name of the game for consumers in 2025 — and retail is shifting beyond e-commerce and brick-and-mortar storefronts to meet that bar. This was the consensus from a conversation American Express hosted on retail trends with the National Retail Federation during NRF 2025: Retail’s Big Show.

Held at the Jacob K. Javits Convention Center in New York City, NRF 2025 is welcoming approximately 40,000 retail professionals for three days of sessions and networking. Amex’s “Beyond the Store” panel discussion focused on how retail is expanding its footprint to meet evolving consumer expectations. Erin Frankcombe, Vice President & General Manager, Amex Offers & Business Insights, American Express, moderated the conversation with panelists Shiz Suzuki, VP, Global Brand Sponsorships and Experiential Marketing, American Express; Emily Silver, Chief Marketing and Athlete Experience Officer, DICK’S Sporting Goods; and Max Magni, Chief Customer and Digital Officer, Macy’s, Inc.

“Today’s consumers, driven by Gen Z and Millennials, are rewriting the rules of engagement as we speak,” said Frankcombe. “They’re not just buying products anymore; they’re looking for memorable experiences and a sense of belonging.”

Research shows that 79% of consumers directly interact and engage with brands beyond using their product or service, by connecting on social media, sharing feedback, and participating in brand activities¹. "The linear shopping journey no longer applies" said Magni: It’s more of an ecosystem than a funnel.

All panelists agreed that brands can deliver via personalized offerings, interactive experiences, and authenticity. “It’s all about listening to the customer — what they want, need, like, don’t like, which is constantly evolving — and using that data to deliver a product or experience that leaves them cherishing your brand,” Suzuki noted.

The speakers dove into how they’re each cracking that code at their respective companies, especially when it comes to building long-term loyalty with younger consumers.

Here are more takeaways from the conversation:

Personalization is evolving to meet demand. A recent Amex survey found that the majority of U.S. consumers (68%) now expect brands to provide them with personalized offers². The Amex Offers digital advertising platform does just that, Frankcombe said, explaining that the more a Card Member uses their card, the more relevant offers they can expect to receive. DICK’S focuses on personalizing the athlete experience. “Our customers lead full lives juggling youth sports, jobs, school, their own fitness journeys,” Silver said. “How can we make the everyday and long-term goals easier for them – how do we innovate shopping to make it seamless?”

Experiences drive loyalty. “For American Express, beyond the store really means beyond the card. Experiences are vital,” said Suzuki. “We want Card Members to walk away from one of our events thinking, ‘That would not have been the same without my American Express Card.’ And others to see it and think, ‘I want to be with Amex.’” Macy’s, Inc. focuses on creating stories worth sharing, Magni noted. “More compelling, emotional, personalized experiences will not only inspire and excite the customer, but lay the foundation for lifetime loyalty,” Magni added.

Consumers seek authenticity. “People are looking for brands that resonate with their lifestyle and identity,” said Suzuki. “At Amex, we’re known for our Cards, but we offer so much more than that — we build emotional connections with our Card Members by helping them fuel their lifestyle.” Brands should focus on “making a positive difference for the customer,” Silver added.

Rewards programs remain important. “They are key drivers of customer loyalty,” said Suzuki, noting the success of Amex’s Membership Rewards program along with the company’s focus on rewards for product refreshes. It’s about, “How can you stand out and how can you talk to your customers in a more valuable way?” Magni added. 

Gen Z and Millennials continue to spend — but reaching them isn’t one size fits all. As younger generations gain buying power, they’re becoming more influential. For American Express, these two groups remain³ the fastest-growing consumer demographic. “There is truly no one-size-fits-all approach to reaching this group: They are also the most diverse generation ever, and it’s important for retailers to be mindful of that as we think about what experiences to offer up,” said Suzuki. 

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¹  Source: 2023 Edelman Trust Barometer.

^2,3 Source: The American Express Retail Loyalty Survey, July 2024.

The American Express Retail Loyalty Survey consisted of two studies conducted in partnership with a third-party vendor on behalf of American Express, surveying U.S. consumers and retail decision makers to gain understanding of current retail trends. The U.S. consumer survey consisted of a 7-minute online survey of 1,000 U.S. consumers who have a credit card and have used it at least once within the last month. The survey was fielded between May 10-20, 2024. The margin of error (MOE) at a 95% confidence interval for the total sample is +/- 3 percentage points. The U.S. retail decision maker survey consisted of 7-minute online survey of 750 U.S. Retail Decision Makers, including those who work in retail + e-commerce industries, have ad/marketing or finance titles and/or are an employee who makes advertising/marketing decisions, and have financial decision-making power at small (under 50 employees), medium (50-249 employees) and large (250+ employees) businesses. The survey was fielded between May 10-16, 2024. The margin of error (MOE) at a 95% confidence interval for the total sample is +/- 4 percentage points.