Editor’s note: Andrew Gallant is the marketing specialist at CivicScience. This is an edited version of an article that originally appeared under the title “Coworking Space Usage Doubles, Though Consumers Still Prefer Working at Home.”
WeWork, a coworking space provider, is poised to declare bankruptcy as the trading of its shares has been halted. The company is grappling with rising operating costs, a demanding commercial real estate lending climate and the shift to remote working. As the industry looks on, who might coworking companies look to in hopes of potentially mitigating some effects of the current economic headwinds impacting WeWork? Here are fresh insights into the picture of office sharing today.
Previous CivicScience data from January found some potential for coworking spaces like WeWork despite heightened levels of COVID-19 at the time. The latest update of CivicScience’s ongoing tracking shows the percentage of those who are currently utilizing coworking spaces has doubled from 2022, with a corresponding drop in those not interested. Intent to try a coworking space has also increased by three points to 11%.
Gen Z and Millennials continue to dominate demand, with both groups being more than three times as likely as older adults to be current users. For those who typically work out of an office, their preferred office type has changed very little year-over-year. Traditional office spaces remain the favorite office environment, eight percentage points ahead of the next closest option, the home office. The percentage of those who most prefer working in coworking spaces remains low and has ticked down a point to 7%.
Remote workers continue to dominate the coworking space, but hybrid workers are more than twice as likely as fully remote workers to report coworking space usage. It’s important to note, however, that hybrid workers are far more likely to say they used to rent a s...