AmEx doubles down on dinner reservations
![paying at dinner with an AmEx card](https://cdn.prod.website-files.com/6400f5db669916305f63913b/66871b9ea00a5ffa6b4228eb_AD_4nXfwfXtpJLTth18LZth91ZzHuwz3W2ZtXJXaRjMCy47xfg-Di8jztq06hiw9g92WPXVFSOinw6-PC2N9oi47fzn4leDZXTZSNsDncVqM-F4FvPNCRAs7GAU2K6yj5ayZJRn03_X40J0er4s1g_h8_vtzPVHU.jpeg)
Restaurant reservations are a hot commodity.
American Express (AmEx) is spending with this in mind.
The credit card company, which already owns the restaurant platform Resy, announced in June the purchase of Tock, a similar platform but with more of a focus on high-end restaurants.
AmEx’s investment in restaurant tech underscores how vital the culinary world is for its customers. In 2023, AmEx customers spent more than $100 billion in restaurants.
The acquisition of Tock also aligns with the brand’s strong push to appeal to high-net-worth individuals. These customers want access, and Tock is a step in that direction at a time when scoring a reservation at popular restaurants is harder than ever.
AmEx’s ability to attract high-quality, high-spending customers across various demographics is an excellent hedge against potential looming economic slumps.