News Formal

American Express CEO explains how the company is attracting younger consumers

  • 📰 CNBC
  • ⏱ Reading Time:
  • 19 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 72%

American Express Co News

Markets,Business,Investment Strategy

American Express CEO Steve Squeri told CNBC's Jim Cramer on Tuesday that Millennial and Gen Z customers made up 60% of new card acquisitions.

American Express CEO Steve Squeri told CNBC's Jim Cramer on Tuesday how the company attracted more Millennial and Gen Z customers, saying the cohort made up 60% of new card acquisitions during the last quarter.

Squeri said American Express realized that attracting younger clientele was a "key thing" for the company, so it was important to offer cards with a high enough value proposition for that group. Younger card holders create a greater "lifetime value" than older ones, as they will continue to use their American Express cards as they age, he added.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves midday: Ulta Beauty, Netflix, American Express, Ibotta and moreThese are the stocks posting the largest moves in midday trading.
Source: CNBC - 🏆 12. / 72 Read more »