Amex slips with mid sized businesses

[Alex]

March 31, 2004

"Informa Research Services, Inc., today released results from a new study of 2,800 micro, small and mid-sized companies indicating that fewer small and middle market companies rely on American Express cards as their primary corporate expense card, while significantly more micro market companies use the American Express card as their primary card. In this study, micro market companies are defined as those with between $50 and $999.9 thousand in annual revenue, small businesses are defined as companies with annual revenue between $1 and $19.9 million, and middle market companies are defined as those with annual revenue between $20 million and $249.9 million. This study tracks all card brands used by micro, small, and middle market companies, and also asks businesses to indicate which brand is the primary card used for expenses. Based on this study, it is in this measure where American Express experienced a significant loss of primary use in the small and middle markets and a significant gain in primary use by the micro markets.

 

"Based on our study, 2003 was a year during which American Express experienced considerable erosion of their share of small and middle market customers that rely primarily on their American Express cards," said Mike Marselli, Market Strategist and manager of Informa’s study. "At the same time our results show that American Express witnessed a sharp increase in primary use among micro market companies.""

 

http://www.informars.com/news/amex.html