downtown denver a retail snapshot

D O W N T O W N D E N V E R

A RETAIL SNAPSHOT

Downtown Denver: A Retail Snapshot

Ranked the #2 Best Place to Live by U.S. News & World Report and home to the 3rd Hottest Job Market in the country, Denver has welcomed new residents, employees, and visitors in droves in recent years. Downtown Denver sits at the epicenter of this activity and sees the highest pedestrian traffic counts in the Rocky Mountain West region.

Key businesses have put down roots in Downtown Denver in recent years, recognizing its vibrancy as a complete neighborhood, employment hub, and tourist destination.

A Retail SnapshotDowntown Denver Partnership

Population

Average Household Size

Average HH Income

Bachelor’s Degree or Higher

Median Age

Area Demographics 5-mile radius

519,180

2.1

$102,803

53%

35.5

3-mile radius

247,731

1.9

$105,791

61%

35.4

1-mile radius

49,043

1.5

$87,286

63%

34.1

DIA

DowntownDenver

135

Source: Esri

RTD Rail System

Select Recent Openings

Downtown Retail Districts & Key Retailers

Platte Street

Market Station

Dairy Block

McGregor Square

Larimer Square

Convention Center

Downtown Denver’s distinct retail districts offer a wide variety of storefronts and spaces to choose from, with key retail nodes found at Platte Street, Union Station, McGregor Square, Larimer Square, Market Station, Denver Pavilions, and along the 16th Street Mall.

Union Station

16th St Mall

Coors Field

Sources: Colorado Department of Labor and Employment, Downtown Denver Partnership 2019 Retailer Survey, Visit Denver,City and County of Denver, Office of the Controller, CoStar Group, Inc.


Denver Pavilions

Key Facts: Downtown Denver in 2019

30KDaily Pedestrians on Average per Block on the 16th Street Mall

80% Of downtown retailers and restaurants reported sales

were growing or stable

8.2% Annual Retail Sales Growth

145,000Employees

11,000 Hotel Rooms

17.3 Million Metro Area Visitors

4,500 Residential Units Planned

or Under Construction

1

67

9

42

3

1 REI2 Sephora3 Uniqlo4 H&M5 Lucky Strike6 Fjallraven 7 Royal Robbins 8 Overland Sheepskin 9 Ace Hardware10 Danner11 Warby Parker12 BeautyCounter13 Target14 Montbell15 Tattered Cover16 Whole Foods Market17 Sweetgreen18 Pet Supplies Plus19 Urban Putt 20 King Soopers21 Ann Taylor LOFT 22 Pendleton23 Mammut

RetailersRestaurants

5

10

1112

19

2223

2118

15

16

20

17

1314

8

9

Select Key Retailers

Downtown Denver Resident Shopper Profiles

Social Security Set | 5%

• Generally live alone in, or close, to business districts• Enjoy the hustle and bustle of life in the heart of the city with the added

benefit of access to public transportation and community amenities • Wages and salary income are still earned by almost half• Generally price sensitive

Laptops and Lattes | 26.3%

• Predominantly single• Well-educated professionals in business, finance, legal, computer, &

entertainment• Affluent and partial to city living and its amenities• Cosmopolitan and connected• Active and health conscious, care about the environment

Metro Renters | 64.5%

• Highly mobile and educated• One of the fastest-growing segments and above average income • Spend a large portion of wages on rent, clothes, the latest technology• Live close to their jobs, alone or with a roommate


Downtown Denver Household Spending

Annual Lifestyle Spending Per Household

$32,499

$4,680

$3,502

Downtown Denver’s growing residential population is predominantly made up of the young, educated, singles of the Metro Renter tapestry segment who spend a majority of their overall retail goods spending on dining out, entertainment, and recreation.

Apparel & Services

Entertainment & Recreation

OverallRetail Goods

Source: Esri and Bureau of Labor Statistics

$6,143Eating & Drinking

Downtown Denver Retail & Restaurant Survey

The Downtown Denver Partnership surveyed over 100 retail and restaurant businesses.

Restaurant Businesses Top 2

1. Employees 2. Visitors

Retail Businesses Top 2

1. Residents 2. Visitors

Personal Care Businesses Top 2

1. Residents 2. Visitors

Over 80% of businesses said sales are growing or stable

Standing Tall

Like every major metro, Downtown Denver has been impacted by the COVID-19 crisis in ways that are not reflected in this report. But Denver, and Colorado, have stood tall throughout the crisis and are well poised for recovery. Throughout the pandemic, Downtown Denver has continued to attract major office relocations and expansions and leads its peers in many of the indicators tracking resilience and recovery.

• Top 10 City Best Positioned to Recover from the Coronavirus (Moodys)

• #1 Most Popular Travel Destination – Summer 2020 (AAA)

• 7th Lowest Unemployment Rate Among Large Metros - September 2020 (BLS)

• 10% higher traffic than the national average at Denver International Airport

• Denver is outperforming its peer cities and the global average for a return to in restaurant dining

• 300 Days of Sunshine Per Year to Enjoy Outdoor Dining and Recreation

JuneJulyAugust

ThursdayFridaySaturday

Busiest Three Months

Busiest Three Days

Restaurants

JulyNovemberDecember

MondayFridaySaturday

Busiest Three Months

Busiest Three Days

Retailers

Downtown Denver Retailer Feedback

Source: Downtown Denver Partnership 2019 Retailer Survey

Downtown Retail CustomersTop two categories of customers, asked of a sample of downtown retailers


1515 Arapahoe St. Tower 3, Suite 100 Denver, CO 80202 303.534.6161 downtowndenver.com

/DowntownDen

@downtowndenver

/downtown-denver-partnership

@DowntownDenver

ABOUT US

“Target is thrilled to bring our first small-format store to Colorado and be part of a thriving community in Downtown Denver.”

Mark Schindele, SVP, Properties, Target

downtown denver a retail snapshot

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