"For the first time, millennials and Gen Zers made up the biggest slice of US consumer spending among all Amex consumer cardholders last quarter, CFO Christophe Le Caillec said on the company's fourth-quarter earnings call. They're also the fastest-growing cohort, he said, as Amex works to target younger consumers. To date, the average new consumer customer for the Platinum and Gold cards is 33 and 29, respectively. (The Platinum card costs $895 a year, compared to the Gold card's annual fee of $325.)"
"Restaurants saw a boom, especially those that partner with Resy, the reservation platform owned by Amex. Spending at restaurants was up 9% for the quarter, compared with up 20% at Resy venues, CEO Stephen Squeri said later in the call. Under the newest Platinum perks, cardholders can receive up to $400 in annual credit at Resy restaurants and attend "Platinum Nights" at select spots in New York, Los Angeles, and Miami."
Millennials and Gen Z comprised the largest share of US consumer spending among American Express consumer cardholders last quarter. Average new consumer customers for the Platinum and Gold cards are 33 and 29 years old, respectively. Cardholder spending rose across categories: retail spending increased 10%, luxury retail rose 15%, restaurant spending rose 9%, and Resy-affiliated venues rose 20%. American Express refreshed the Platinum card in September, increasing new cardholder acquisition and simplifying benefits enrollment. Platinum perks include up to $400 annual Resy credit and exclusive "Platinum Nights". Travel bookings surged 30% in the last three months of 2025.
Read at Business Insider
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