AmEx doubles down on dinner reservations

AmEx’s $400 million acquisition of Tock highlights the importance of the culinary world to its cardholders.
July 6, 2024
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paying at dinner with an AmEx card

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.

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