American Express
is solely dedicated to appealing to the younger demographic, particularly
Millennials
and
Generation Z
. These groups are not just tech-savvy; they are a lucrative market. By 2024, they accounted for 75% of new accounts in
Amex’s premium cards,
A leap from 60% in 2019 has been observed. Generation Z experienced a 40% increase during the initial quarter of 2025 relative to the corresponding timeframe in 2024. This demographic favors contactless payments and amasses greater rewards points compared to their predecessors.
Amex’s strategy
To attract the younger generation dates back to 2021. The firm is committing its biggest investment yet into its card program with the aim of revitalizing it.
Platinum card
Expect significant transformations by late summer or early fall of 2025. The objective is to increase present benefits twofold and bring in some thrilling new brands. Although these advantages attract people of every age group, they hold particular allure for
Millennials and Gen Z
, who appreciate contemporary, digitally-oriented advantages.
Amex
has broadened its range of services beyond conventional travel incentives to align with the active and adventure-loving preferences of Millennials and Gen Z. Among these new advantages is an annual digital entertainment credit worth $240 for subscriptions such as The
The Wall Street Journal, Disney+, and Hulu.
There’s an annual allocation of $200 for Uber rides, along with $300 each for Equinox and SoulCycle memberships. Additionally, there are shopping credits such as $100 at Saks Fifth Avenue. These benefits are well-suited to cater to the preferences of today’s digitally inclined generation.
Concentrate on Digitizing Dining Experiences
American Express has made notable progress in the restaurant industry through acquisitions.
Resy in 2018 and Tock in the previous year
This guarantees that Platinum cardholders have the opportunity to secure bookings at sought-after restaurants that typically face difficulty in reservation availability. Resy partners with
20,000
restaurants across thirty nations, while
Tock brought aboard 7,000 culinary partners.
Including wineries, Amex distinguishes itself as the sole credit card provider equipped with its own restaurant reservation system, ensuring a smooth dining experience for its customers.
American Express provides customized services through a dedicated team.
7,000 travel consultants
prepared for crafting travel plans or securing concert tickets. Additionally, the Platinum card offers access to more than
1,550 lounges across over 500 airports
Globally, we’re set to open three additional Centurion Lounges shortly. This expansion aims to improve the overall travel journey, offering greater comfort and exclusivity to cardmembers, which resonates well with today’s digitally savvy individuals who favor tailored and high-end services.
Perceived value and loyalty
Even though it has the highest price point within its category
$695
Every year, the Platinum card is considered to offer value that greatly surpasses its price tag. millennials and gen z show particular loyalty, with amex noting a 98% global retention rate. an increase in new sign-ups has been observed as well.
$695
Contributed to a 18% rise in net card fee revenues over the past year. This loyalty highlights the card’s attractiveness to a generation that appreciates various advantages beyond conventional travel rewards.
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