American Express executives report that their affluent card members are largely unfazed by concerns surrounding tariffs. During a recent interview with CNBC, Chief Financial Officer Christophe Le Caillec stated that spending among this demographic remains strong, showing little sign of slowing down. Furthermore, the company has observed significant growth in transaction volumes driven by younger customers during the first quarter of the year.
This resilience in spending among American Express' customer base suggests that the potential impact of tariffs on consumer behavior may not be as significant as initially anticipated, at least in the short term. The company continues to monitor economic conditions and consumer spending patterns closely, but current trends indicate a positive outlook for the near future. American Express' diversified customer base and strong brand reputation may also contribute to its ability to weather potential economic headwinds.
American Express Customers Still Spending Despite Tariff Concerns
Despite worries about tariffs and their potential impact on the economy, American Express' wealthy cardholders are continuing to spend at a steady pace. According to CFO Christophe Le Caillec, younger customers are also contributing to growth, with increased transaction volumes in the first quarter. This indicates that affluent consumers are not yet significantly altering their spending habits due to trade uncertainties. The company remains optimistic about consumer spending trends.
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