The news: American Express will offer cardholders an immersive Chef’s Table dining experience, per a press release.

Card members can access exclusive Chef’s Table live podcast recordings featuring the chefs and culinary demos across the United States.

How we got here: As luxury becomes more defined by exclusive experiences over physical goods, issuers are engaged in an arms race to provide the most clout-laden venues and events for their cardholders.

• Amex has leaned into sports for its members, notching tie-ups with the NFL and F1, while Chase gave cardholders an extra shot at FIFA World Cup tickets.
• Chase debuted Sapphire Reserve Trips, giving members 8X points for bookings to enviable locations like St. Moritz, Jaipur, and the United Arab Emirates.
• And Amex capitalized on the zeitgeist with White Lotus-themed perks at the conclusion of the HBO series’ season three finale.

Why this matters: Premium card issuers are trying to deliver the best dining experiences to their cardholders to justify rising annual fees. 

With its acquisition of Tock and Resy, Amex may be able to signal dominance over Chase’s  OpenTable. Baking the Chef’s Table brand into Amex’s lineup may replicate the success of its White Lotus tie-in, striking a pop culture chord that may resonate with cardholders.

Implications for issuers: Capturing experiences that feel valuable and exclusive will depend on a thoughtful reading of the cultural moment, especially when focusing on a particular generational cohort.

As the restaurant industry suffers from a widespread slowdown, targeting members with events who like to dine alone may engage a cohort of cardholders who still prioritize eating out: Nearly half (49%) of Gen Zers report dining alone at least once per week, along with 46% of millennials, per a TouchBistro survey.