City Neighborhoods and Suburbs of Major Metropolitans Thrive Post-Pandemic, Square Data Finds
Square's analysis of food and beverage transactions in major metropolitans reveals a shift in consumer spending patterns since the pandemic. While downtown areas with high concentrations of office workers have seen declines, neighborhoods and suburbs are thriving, contributing to local economic growth.
In New York City, areas like Williamsburg, Bushwick, and Bed-Stuy have seen activity levels increase by 20-60% since Q1 2020. Queens, particularly Long Island City and Astoria, has experienced growth between 30-60%. The San Francisco Bay Area shows declines in the Financial District and SoMa, but growth in residential areas and suburbs. Washington, D.C. data indicates significant gains in neighborhoods with increased housing development, such as Navy Yard and NoMa.
Square Research Lead Ara Kharazian emphasizes that while some downtown areas have struggled, the overall small business environment remains healthy, resilient, and strong, highlighting the adaptability of American cities.
L'analisi di Square sulle transazioni nel settore alimentare e delle bevande nelle principali metropoli rivela un cambiamento nelle abitudini di spesa dei consumatori a seguito della pandemia. Mentre le aree centrali, ad alta concentrazione di lavoratori d'ufficio, hanno registrato declini, i quartieri e le periferie stanno prosperando, contribuendo alla crescita economica locale.
In New York City, aree come Williamsburg, Bushwick e Bed-Stuy hanno visto un aumento dell'attività compreso tra il 20% e il 60% dal primo trimestre del 2020. Il Queens, in particolare Long Island City e Astoria, ha sperimentato una crescita tra il 30% e il 60%. Nella Baia di San Francisco si registrano cali nel Financial District e a SoMa, ma crescita nelle aree residenziali e nelle periferie. I dati su Washington, D.C. indicano guadagni significativi nei quartieri con un aumento dello sviluppo edilizio, come Navy Yard e NoMa.
Ara Kharazian, responsabile della ricerca di Square, sottolinea che mentre alcune aree centrali hanno faticato, l'ambiente per le piccole imprese nel complesso rimane sano, resistente e forte, evidenziando l'adattabilità delle città americane.
El análisis de Square sobre las transacciones de alimentos y bebidas en las principales metrópolis revela un cambio en los patrones de gasto de los consumidores desde la pandemia. Mientras que las zonas del centro con alta concentración de trabajadores de oficina han visto descensos, los vecindarios y suburbios están prosperando, contribuyendo al crecimiento económico local.
En la ciudad de Nueva York, áreas como Williamsburg, Bushwick y Bed-Stuy han visto niveles de actividad aumentar entre el 20% y el 60% desde el primer trimestre de 2020. Queens, en particular Long Island City y Astoria, ha experimentado un crecimiento entre el 30% y el 60%. La zona de la Bahía de San Francisco muestra caídas en el distrito financiero y SoMa, pero crecimiento en áreas residenciales y suburbios. Los datos de Washington, D.C. indican ganancias significativas en vecindarios con un aumento en el desarrollo de viviendas, como Navy Yard y NoMa.
Ara Kharazian, líder de investigación de Square, enfatiza que aunque algunas áreas del centro han tenido dificultades, el entorno general de las pequeñas empresas sigue siendo saludable, resiliente y fuerte, destacando la adaptabilidad de las ciudades estadounidenses.
스퀘어의 분석에 따르면 주요 대도시의 음식 및 음료 거래에서 팬데믹 이후 소비자 지출 패턴의 변화가 나타났습니다. 사무직 근로자가 많이 분포한 도심 지역은 감소세를 보이고 있는 반면, 이웃 및 교외 지역은 번창하고 있어 지역 경제 성장에 기여하고 있습니다.
뉴욕시의 윌리엄스버그, 뷰시크 및 베드스타이와 같은 지역은 2020년 1분기 이후 활동 수준이 20%에서 60% 증가했습니다. 퀸즈, 특히 롱아일랜드시티와 아스토리아는 30%에서 60% 사이의 성장을 경험했습니다. 샌프란시스코 만 지역은 금융 지구와 소마에서 감소세를 보이지만 주거 지역과 교외에서는 성장을 보여줍니다. 워싱턴 D.C. 데이터는 네이비야드와 노마와 같은 주택 개발이 증가한 지역에서 상당한 이득을 나타냅니다.
스퀘어의 연구 책임자인 아라 카라지안은 일부 도심 지역이 어려움을 겪고 있는 반면, 전반적으로 소규모 비즈니스 환경은 건강하고, 회복력 있으며 강력하다고 강조하며 미국 도시들의 적응력을 부각시키고 있습니다.
L'analyse de Square des transactions dans le secteur alimentaire et des boissons dans les grandes métropoles révèle un changement dans les habitudes de consommation depuis la pandémie. Alors que les zones urbaines à forte concentration de travailleurs de bureau ont connu des baisses, les quartiers et les banlieues prospèrent, contribuant à la croissance économique locale.
À New York, des zones comme Williamsburg, Bushwick et Bed-Stuy ont vu les niveaux d'activité augmenter de 20 à 60% depuis le premier trimestre 2020. Queens, en particulier Long Island City et Astoria, a connu une croissance entre 30 et 60%. La région de la baie de San Francisco montre des baisses dans le quartier financier et SoMa, mais une croissance dans les zones résidentielles et les banlieues. Les données de Washington, D.C. indiquent des gains significatifs dans des quartiers avec un développement résidentiel accru, comme Navy Yard et NoMa.
Ara Kharazian, responsable de la recherche chez Square, souligne que bien que certaines zones du centre-ville aient rencontré des difficultés, l'environnement des petites entreprises reste globalement sain, résilient et solide, mettant en lumière l'adaptabilité des villes américaines.
Die Analyse von Square zu Lebensmittel- und Getränketransaktionen in großen Metropolen zeigt einen Wandel in den Ausgabemustern der Verbraucher seit der Pandemie. Während die Innenstadtgebiete mit hoher Konzentration an Büroangestellten Rückgänge verzeichneten, florieren die Stadtviertel und Vororte und tragen zum lokalen Wirtschaftswachstum bei.
In New York City haben Gebiete wie Williamsburg, Bushwick und Bed-Stuy seit dem ersten Quartal 2020 einen Anstieg der Aktivitätsniveaus um 20-60% erlebt. Queens, insbesondere Long Island City und Astoria, verzeichnete ein Wachstum zwischen 30% und 60%. Die San Francisco Bay Area zeigt Rückgänge im Finanzviertel und SoMa, aber Wachstum in Wohngebieten und Vororten. Daten aus Washington, D.C. weisen auf signifikante Gewinne in Stadtteilen hin, in denen die Wohnungsentwicklung zunimmt, wie Navy Yard und NoMa.
Ara Kharazian, Leiter der Forschung bei Square, betont, dass, obwohl einige Innenstadtbereiche Schwierigkeiten haben, das allgemeine Umfeld für kleine Unternehmen gesund, widerstandsfähig und stark bleibt, was die Anpassungsfähigkeit amerikanischer Städte hervorhebt.
- None.
- None.
Square analysis of millions of restaurant transactions in the selected zip codes in
Square analyzed food and beverage transactions in Q1 2020 versus Q1 2024 in
“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.”
-
Data shows significant declines in activity in areas with a high density of commercial real estate that index towards office workers, including Midtown Manhattan, the Financial District.
Downtown Brooklyn saw a more moderate decline. -
Other areas of
Brooklyn , like Williamsburg, Bushwick, and Bed-Stuy, have grown, with activity levels up 20-60% since Q1 2020. -
Queens ,Long Island City andAstoria in particular, which have seen increased development and housing construction in recent years, have seen activity levels grow between30% -60% since 2020. -
Activity levels in
Greenwich Village and the West Village, among the most expensive neighborhoods inManhattan , remain relatively unchanged from pre-pandemic.
- With a slow return to work, downtown restaurant transactions in the Financial District and SoMa have declined. New attractions and the return of tourism have contributed to growth in Mission Bay and the Embarcadero.
- Residential areas outside of downtown like Pacific Heights, Outer Richmond, and the Castro, have become hot spots as residents now go out in their local neighborhoods.
-
In the north,
Mill Valley andMarin County saw substantial increases, and in the south,Daly City and parts of San Jose County experienced gains. -
As residents moved to the suburbs, East Bay restaurants also saw increased traffic in
Contra Costa County ,Danville , andCastro Valley .
-
In
Washington, D.C. , data shows significant gains in restaurant activity in neighborhoods which have seen increased housing development, such as Navy Yard and NoMa, as well as parts of Glover Park and Tenleytown. - Conversely, activity has declined near the Capital One Arena, Columbia Heights, and surrounding areas.
- Areas adjacent to the National Mall and tourism sites have remained flat, helping support downtown businesses, while significant declines in activity were observed east of the Potomac River.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241002881488/en/
For inquiries into Square’s consumer, labor, and business data, please email press@squareup.com.
Source: Block, Inc.
FAQ
How has consumer spending changed in New York City since the pandemic, according to Square (SQ) data?
What trends does Square (SQ) data reveal about restaurant activity in the San Francisco Bay Area?
How has restaurant activity changed in Washington, D.C. according to Square's (SQ) analysis?
What does Square (SQ) data reveal about the economic health of American cities post-pandemic?
