. Small enterprises in businesses such as auto repair, home construction or plumbing can also be beneficiaries of tight markets, with more pricing power. The fact that supplies might cost more isn’t bad news for card volumes, either.
Large and global corporate-card spending, historically driven by travel and entertainment, “continued to show fewer signs of recovery,” the company said. AmEx has also refreshed Platinum benefits to include more digital entertainment, online shopping and fitness-related rewards. Of the new U.S. consumer Platinum and Gold card members added during the quarter, 75% were from Gen Z and millennial customers.
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