Since the pandemic, major metropolitans have changed due to factors like the ‘Great Reshuffle,’ remote and hybrid work, and rises in cost of living, among others. While most downtowns haven’t re...
OAKLAND, Calif.: Since the pandemic, major metropolitans have changed due to factors like the ‘Great Reshuffle,’ remote and hybrid work, and rises in cost of living, among others. While most downtowns haven’t returned to pre-pandemic levels of economic activity, new Square data shows neighborhoods and suburbs outside of dense city centers are thriving, helping fuel local economies.
Square analyzed food and beverage transactions in Q1 2020 versus Q1 2024 in New York, San Francisco, and Washington, D.C. to uncover where consumers have shifted their spending across these metropolitans.
“The clearest finding we can show today is that American cities are strong, alive, and growing. Some parts of cities, downtown areas indexed to office workers in particular, have struggled,” said Ara Kharazian, Square Research Lead. “However, our national conversation misses the fact that other neighborhoods have flourished, and our findings show the small business environment is healthy, resilient, and strong.”
New York City
San Francisco Bay Area
Washington, D.C.
About Square
Square makes commerce and financial services easy and accessible with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. For more information, visit www.squareup.com.
Fonte: Business Wire
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