High-income shoppers buy private label groceries while booking luxury vacations without hesitation. It looks like a contradiction, but the same psychological decision-making drives both choices, and retailers need to understand it to succeed.

The news: American Express bolstered its array of hotels and resorts for Platinum members ahead of its much-anticipated Platinum refresh. The credit card company also debuted exclusive Amex experiences at the US Open Tennis Championship this week. Our take: Expanding its resort collection can help Amex cement its dominance in the premium travel card space. Its lineup at the US Open signals the power of experiential rewards, which craft a unique, memorable experience for members that extends beyond cash or material incentives—a clever way to distinguish itself from rivals like the Chase Sapphire Reserve.