Residential Flooring - US - April 2013
“The pace of home sales and home renovations started to quicken in 2012, giving the residential flooring market a much-needed boost. Now it’s up to flooring manufacturers and retailers to maintain the momentum with marketing programs that emphasize both the practical and emotional benefits of new flooring.”
– John Owen, Senior Household Analyst
Some questions answered in this report include:
- Can consumers be motivated to purchase flooring for reasons other than necessary replacement?
- Can sustainability be further leveraged as a flooring sales driver?
- What challenges and opportunities do Millennials hold for the residential flooring market?
The $20-billion residential flooring industry, hit hard by the recession and its aftermath, rebounded strongly in 2012, thanks in large part to improvement in the real estate and home improvement markets. The prospects for continued growth are good given strengthening demand and an expanding array of new flooring products offering style and functionality at every price point.
While flooring shoppers are as price conscious as ever, they also express interest in and willingness to pay extra for flooring that fits their lifestyles. Durability, ease of cleaning, and style are important but are just the starting point. Other areas of significant interest include health and wellness, energy efficiency, environmental friendliness, and resistance to odor and noise. In addition, flooring is increasingly likely to be seen as protecting or enhancing home value, a benefit that may be especially compelling as a fitful economic recovery continues.
Residential flooring is defined as any floor covering used for private residences. This report includes commercial/public flooring purchases.
The residential flooring market includes two major segments:
- Wall-to-wall carpeting
- Carpet tiles
- Ceramic floor and wall tile
- Stone and marble flooring
- Hardwood flooring
- Vinyl sheet and floor tile
- Laminate flooring
- Rubber flooring
- Area rugs
The report covers products that homeowners would 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.
Retail channels profiled include specialty floor covering stores, home improvement stores, and “other” retailers selling flooring products directly to consumers.
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