Residential Flooring - US - April 2015
"An improving economy and a strengthening home renovation market have helped the $21 billion residential flooring market notch steady gains since 2010. Looking ahead, further improvement in the broader economy should help drive continued growth. While the need to replace old or worn out flooring is the most commonly cited reason for purchasing new flooring, category competitors can accelerate growth, by tapping into more discretionary motivations."
- John Owen, Senior Household Analyst
This report discusses the following key topics:
- Residential flooring makes modest gains in improving economy
- Replacement provides base for market, but growth must come from other areas
- Long-term shift in favor of hard surfaces continues
- Wall-to-wall carpeting still common in homes
While the need to replace old or worn out flooring provides a base of sales for the market, a brightening economic outlook and quickening pace of home renovations gives category competitors an opportunity to drive growth by tapping into other more discretionary motivations such as interest in changing look or décor or making it easier to keep the home clean and healthful.
The report covers products that homeowners buy and/or install for themselves, as well as products installed for consumers by professional homebuilders, contractors, and management companies in advance of or following the sale of a residence.
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