CHICAGO -- The North American Association of Floor Covering Distributors (NAFCD) has released two spring 2017 flooring industry reports, compiled by the Cleveland Research Company. These reports include trends and first quarter themes that impact all floor covering categories.
Available to all NAFCD members, the Q1 Flooring Industry Update and the May 2017 Flooring Industry Update are designed to give industry professionals a comprehensive overview of current growth rates, developing trends, economic forecasts and more.
"These reports are especially relevant to NAFCD members because they will shape the way companies develop strategies for business growth and success," says NAFCD Executive Vice President Kevin Gammonley. "Our hope is to give our members the tools to operate at optimal efficiency in the current economic landscape and these reports are key to those insights."
Statistics to Watch
Important themes that stand out in the Q1 report are:
- Total U.S. flooring industry growth rates eased roughly 3 points in Q1 compared to the upside performance in Q4 (up roughly 1 percent through late March versus Q4 up in the 4 percent range year/year),
- Homebuilder shipments have remained the most impressive piece of the U.S. flooring industry year-to-year, an area with estimated sales growth of 8-10 percent, and
- The industry is seeing strong acceptance for flooring price increases year-to-date, estimating the Q1 carpet price increase is on pace for 85 percent or higher realization with the low-end of the U.S. market particularly impressive.
Key Trends
Trends that stand out in the May report are:
- U.S. flooring demand looks better in the last 30-60 days after a pause in January/February,
- Hard surface share gains can add to organic growth through 2017,
- Price increase traction across surfaces year-to-date; near-term cost pressure looks stable.
NAFCD members can read the full reports in the online NAFCD Research Center at
www.NAFCD.org.