Good morning. Winning customers who stay with a brand for decades has become an important strategy for financial institutions and retailers.
Dining was the fastest-growing travel and entertainment category in Q1 and Q2 this year for American Express. Subsequently, Amex recently introduced a new $400 annual credit for reservations made through Resy—a site acquired by the company in 2019, a year after Squeri became CEO. Amex customers can now get tables at top restaurants, which often reserve spots or prioritize cardholders over others who booked earlier.
Amex card members with Resy credit spend 25% more at U.S. Resy restaurants since the benefit launched. Resy CEO Pablo Rivero told Tully that Resy benefits were introduced to several other Amex cards in 2024.
“The long-term value of acquiring customers at this initial entry point is substantial,” he said. “While others speak to millions, we’re talking to billions of potential consumers.”
Brands that connect with Gen Z and millennials now are positioning themselves for lasting customer loyalty and future growth.
