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CORRECTING and REPLACING PHOTO Square and the Specialty Coffee Association Release Coffee Data Report in Honor of National Coffee Day

September 27, 2018

SAN FRANCISCO--(BUSINESS WIRE)--Sep 27, 2018--Please replace the photos with the accompanying corrected photos.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180927005031/en/

Square Coffee Report 2018 (Graphic: Business Wire)

The release reads:

Square and the Specialty Coffee Association Release Coffee Data Report in Honor of National Coffee Day

Revealing the insights, trends, and consumer behavior that fuel the growth of the $21.5 billion* U.S. independent coffee shop industry

Square, Inc. (NYSE: SQ) and the Specialty Coffee Association released a Coffee Data Report today, in honor of National Coffee Day, on September 29 and International Coffee Day on October 1. Coffee shop menus across the country confirm that caffeine-obsessed (including lactose-averse) Americans have more choices than ever before. Receipts tell a similar tale: we are drinking more than 67 million lattes per year, replacing iced coffee with cold brew, and switching from almond to oat milk. The report digs into the current state of coffee consumption across the U.S. and sheds light on emerging trends disrupting the coffee industry.

“The independent coffee shop is an integral part of so many neighborhoods. It’s a space where communities come together,” said Peter Giuliano, Chief Research Officer at the Specialty Coffee Association. “But with that independence comes the unique challenges of running a small business, while seeking to make coffee more sustainable from the farmer to the barista. In order to achieve both, information is critical. That’s why we are thrilled to share these insights, ultimately helping independent shops make their businesses more sustainable, allowing them to focus on the quality and community they provide each day.”

Key findings from the report:

Though new to the coffee scene as of 2016, oat milk sales have increased 425% since June 2017, projecting that oat milk may soon surpass almond as the fan-favorite. Almond milk remains the most popular alternative milk at coffee shops across the U.S., with consistent sales in the past year. Flat Whites, an Australian coffee classic, are new to the U.S. coffee scene but gaining traction fast. Flat White sales have increased 41% in the past year. Alaska is home to the highest-tipping coffee drinkers in the country, giving their baristas on average, a 17.5% tip, six percent higher than the national average. A standard latte doesn’t cut it anymore. The average American requests two add-ons to their customized coffee order.

Please find the complete Coffee Report at www.squareup.com/townsquare/coffee-day-2018.

To celebrate independent coffee shops across the U.S., Square and the Specialty Coffee Association are hosting an interactive coffee exhibit in NYC, Now Serving: Coffee, that brings coffee data to life , featuring Brooklyn-based Toby’s Estate Coffee, who will provide free hands-on coffee workshops, discounted coffee drinks, and beans for sale. The exhibit is open to the public from 11 AM to 7 PM on Friday, September 28 through Saturday, September 29. For more information and to RSVP, please visit: www.squarenationalcoffeeday.splashthat.com.

For coffee connoisseurs not able to attend the event, you can celebrate National Coffee Day with Cash App and save a $1 every time you swipe your Cash Card at coffee shops across the US. Simply select the Coffee Shop Boost in app to get an instant $1 discount every time you use your Cash Card at local spots, national chains, and your favorite cafés across the country (some restrictions apply, see app for details).

*Source: Specialty Coffee Association Retail Sentiment Index, 2018.

Data is based off of millions of anonymized transactions from thousands of coffee shops across the U.S. Data set includes transactions from June 2017 to June 2018.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005031/en/

CONTACT: Square, Inc.

Media Contact

press@squareup.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT HARDWARE SOFTWARE MOBILE/WIRELESS PROFESSIONAL SERVICES FINANCE RETAIL FOOD/BEVERAGE

SOURCE: Square, Inc.

Copyright Business Wire 2018.

PUB: 09/27/2018 03:12 PM/DISC: 09/27/2018 03:12 PM

http://www.businesswire.com/news/home/20180927005031/en

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