Table of Contents
Executive Summary
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- The issues
- Residential flooring makes modest gains in improving economy
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- Figure 1: Total US sales and fan chart forecast of residential flooring, at current prices, 2009-19
- Replacement provides base for market, but growth must come from other areas
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- Figure 2: Reasons for purchasing new flooring, January 2015
- Long-term shift in favor of hard surfaces continues
- Wall-to-wall carpeting still common in homes
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- Figure 3: Types of flooring bought in past year, or intend to buy in next year, January 2015
- The opportunities
- Targeting specific interests and personal preferences
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- Figure 4: Most important flooring attributes, January 2015
- Emphasize the investment
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- Figure 5: Flooring attitudes and behaviors, by age, January 2015
- Offer flexibility in color and style
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- Figure 6: Interest in flooring features and benefits, willing to pay more for, by age, January 2015
- What it means
The Market – What You Need to Know
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- Residential flooring makes modest gains in improving economy
- Replacement provides base for market, discretionary factors drive trends
- Remodeling, consumer confidence continue to trend higher
Market Size and Forecast
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- Residential flooring makes modest gains in improving economy
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- Figure 7: Total US sales and fan chart forecast of residential flooring, at current prices, 2009-19
- Figure 8: Total US sales and forecast of residential flooring, at current prices, 2009-19
Market Factors
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- Replacement provides base for market, discretionary factors drive trends
- Housing and home renovation
- Easier care, cleaner homes
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- Figure 9: Reasons for purchasing new flooring, January 2015
- Remodeling continues to trend higher
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- Figure 10: NAHB Remodeling Market Index (RMI), 2009-14
- Consumer confidence fluctuates month-to-month but trends higher
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- Figure 11: Thomson Reuters/University of Michigan Index of Consumer Sentiment, 2009-15
- Home sales lose some momentum in 2014
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- Figure 12: New and existing home sales, 2009-14
- Home ownership rates continue to slip, especially for younger adults
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- Figure 13: Homeownership rate by age of householder, 2009-14
Key Players – What You Need to Know
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- Mohawk leads the pack
- LVT helps drive hard surface growth
- Lumber Liquidators’ struggles put a spotlight on product safety
- Moving toward self-cleaning flooring
Manufacturer Sales of Residential Flooring
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- Three big competitors, many smaller players
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- Figure 14: Leading company sales of residential flooring, 2013 and 2014
- Mohawk leads the pack
- Strengthens hard surface position
- Shaw sales hold steady as hard surface products gain and carpet declines
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- Figure 15: Shaw, “Awesome Happens on Shaw Floors – Anthem,” 2015
- Armstrong separates flooring from rest of company
What’s Working?
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- LVT helps drive hard surface growth
- Hardwood remains a popular choice in construction, renovation
What’s Struggling?
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- Lumber Liquidators’ struggles put a spotlight on product safety
- A new beginning for bamboo?
What’s Next?
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- Moving beyond easy cleaning toward self-cleaning
- Greater flexibility in color and style
- Shopping the way you want
The Consumer – What You Need to Know
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- Long-term shift in favor of hard surfaces continues
- A wider array of motivations for hard surface flooring purchases
- Living room, bedroom, kitchen top spots for new flooring
- Practical attributes and styling top list of purchase considerations
- Easy care, durability, and efficiency can deliver added value
- New flooring as an investment
Flooring Ownership, Purchase, and Purchase Intent
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- Long-term shift in favor of hard surfaces continues
- Variety of alternatives supports hard surface growth
- Wall-to-wall carpeting still the most common type in homes
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- Figure 16: Types of flooring currently owned, bought in past year, or intend to buy in next year, January 2015
Reasons for Purchasing New Flooring
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- A wider array of motivations for hard surface flooring purchases
- Easy cleaning and care
- Home renovation and resale
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- Figure 17: Reasons for purchasing new flooring, by flooring type, January 2015
Rooms in Which New Flooring was Installed
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- Living room, bedroom, kitchen top spots for new flooring
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- Figure 18: Rooms in which new flooring was installed, January 2015
Most Important Flooring Attributes
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- Practical attributes and styling top list of purchase considerations
- Pet friendliness
- Environmental friendliness
- Deep cleaning
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- Figure 19: Most important flooring attributes, January 2015
Interest in Flooring Features and Benefits
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- Easy care, durability, and efficiency can deliver added value
- Soft sells, to a point
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- Figure 20: Interest in flooring features and benefits, willing to pay more for, January 2015
Flooring Attitudes and Behaviors
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- Emphasize the investment
- An opportunity to simplify selection
- A preference for the look of hardwood
- DIY installation increasingly common
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- Figure 21: Flooring attitudes and behaviors, January 2015
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – Market
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- Figure 22: Total US sales and forecast of residential flooring, at inflation-adjusted prices, 2009-19
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