Why did American Express see a spending surge in late 2024?

American Express experienced a significant spending surge in late 2024, with an 8% increase in year-over-year spending during the fourth quarter. This uptick was particularly driven by millennials and Gen Z, whose spending on experiences like travel and entertainment rose by 16%. These younger generations prioritized experiences over material goods, leading to increased spending, especially in travel sectors such as airline tickets. The trend reflects a broader shift in consumer behavior, where younger consumers are focusing on creating memorable experiences. For more details, visit https://since20230806.blogspot.com/2025/01/american-express-spending-surge-gen-z.html

American Express Spending Surge: Gen Z and Millennials Drive Growth