AmEx’s Brand Strategy to Attract Younger Consumers

American Express is no longer your grandfather’s corporate card. In what might seem like a surprising twist, it’s now the hottest card in the wallets of Gen Z and millennials. According to Elizabeth Crosty, vice president of communications, U.S. Consumer Products, CA&C at American Express, these cohorts account for 75% of new platinum and gold consumer cards in the U.S.

The change is not accidental. It is the result of a strategic effort by AmEx to understand and cater to the unique preferences of younger generations. And it offers a blueprint for other banks and financial institutions that struggle to connect with this demographic.

As the spending power of Gen Z and millennials continues to grow, banks and financial institutions have a unique opportunity to emulate American Express’ success in understanding and engaging with them. What can other financial institutions learn from AmEx?

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