With many property owners investing in renovations this year, home improvement projects are moving forward. While all contractors are experiencing a high demand right now, we see an exciting trend: demand is increasing specifically for homeowners pursuing flooring projects.
As a flooring contractor, it is critical to understand these statistics on the flooring industry to take advantage of the opportunities for your business growth. Then, use our home improvement insights to shape your sales process to meet current homeowner needs.
At Modernize, we gather, analyze, and share our homeowner statistics to support remodelers like you. Here are the latest statistics for homeowners pursuing flooring projects.
Current Trends in the Flooring Industry
Many variables are influencing the sudden increase in homeowner demand for flooring renovations. The most likely influences include:
- COVID-19 Pandemic: Homeowners are rethinking their priorities because of the change in the last year and a half. With more people spending time at home than usual, they want to improve the comfort of their living space.
- Holiday Season: Even though the holiday season is still a few months away, many homeowners are preparing for the upcoming festivities. Those planning to see their families during the holiday want to ensure their home is perfect for holiday gatherings.
- Environmental Factors: People are starting to make more environmentally friendly decisions, which means they are rethinking the types of materials they are using in their homes. Eco-friendly materials are more popular than ever.
- Health and Safety: Families want the peace of mind to know that their homes are safe. So, they are investing in germ-resistant flooring materials and natural solutions.
Shifts in Homeowner Priorities
It is no wonder that the flooring industry is seeing a shift in homeowner priorities. The most significant change to note is the way homeowner priorities are shifting. With more homeowners staying at home, there is an awareness of better cleanliness in the house.
Homeowners are looking for resilient flooring types that focus on containing germs. One type of flooring that has caught the attention of homeowners is Luxury Vinyl Tile (LVT). This material is an excellent fit for homeowners who are worried about hygiene and cleanability. LVT has the aesthetic of wood and is better than laminate for preventing the spread of germs.
Another notable shift is that the homeowner market is filling with younger consumers. Millennials who previously did not want homeownership are now shifting their lifestyles and investing in real estate.
As we see more younger customers entering the market, it changes demand. Younger generations emphasize using eco-friendly materials and demand “green” carpeting with polymers manufactured from renewable resources or recycled materials.
Flooring Industry Insights: Top Products
It is essential to give your customers the best experience possible, which means you need to know what homeowners want for their home improvement projects. Using data from our recent survey, you can shape your sales process to incorporate these priorities. We surveyed over 5,000 homeowners to learn what their preferences are when it comes to flooring projects. Homeowners: currently have these products in their homes:
- Carpet (30 percent)
- Hardwood (19 percent)
- Tile (15 percent)
- Laminate (12 percent)
When homeowners renovate or plan for new flooring, 12 percent prefer bamboo, 17 percent prefer carpet, and 16 percent prefer laminate.
It is also important to note that in the next 12 months, 33 percent of homeowners are planning to begin a new flooring project. As this demand continues, it creates the perfect opportunity for you to expand your contracting business. Our team at Modernize is here to help you stay up-to-date on the latest flooring industry insights and support your business through the ever-changing trends in the industry.