Something is Brewing in UptownMarch 23, 2018 12:15 pm
Uptown Charlotte is the center of the city’s business, cultural, dinning, and sporting scene. Thanks to a 250% growth of independent coffee shops during the last three years, Uptown is also the center of the city’s coffee culture. In fact, the 14 independent coffee shops here make Uptown home to more than 1/3 of the city’s total.
Anyone watching national consumer trends will not be surprised by this rapid growth. A recent 2017 survey showed that 83% of adult Americans drink coffee, with 46% of all coffee consumed outside of the home. A large demographic segment of this growing retail coffee consumption trend are Millennials, who are 33% more likely than their older peers to patronize coffee shops. This increased coffee demand has helped fuel the 5% growth in traffic for independent coffee shops nationally in 2017.
These trends hold true in Uptown Charlotte as well, where the number of coffee shops has nearly doubled (along with the city’s millennial population), and the number of local shops has tripled in the last three years.
This rapid growth makes sense in Uptown, an area home to more than half of the region’s Class-A office space and where 100,000+ workers are employed. This daily population surge is ideal for coffee shops that do most of their business from 8 to 9 in the morning.
Adding to this weekday consumer base, are the increasing numbers of Uptown residents. In the same time period as our coffee shop inventory has expanded, Uptown has doubled the number of apartments here, with more than 1,600 units planned or under construction in 2018. The corresponding population growth will not only add more coffee consumers, but statistically Uptowners are good customers, spending 13% more on coffee per year than the average Charlottean.
Given this robust growth of office and residential development, Uptown Charlotte should expect to see the expansion of the coffee scene in the months and years to come. So next time you are out and about in Uptown, stop into one of our coffee shops and enjoy the growing trend of craft coffee consumption.
Maggie Collister, Director of Research, Charlotte Center City Partners
Sources: NCA, Simply Map, Four Square, CCCP