Ten Year Shift in Flooring: How consumers’ choices have evolved over ten years – Jan 2024
A lot has changed in residential flooring use over the last decade or so. 2012 was the last year when LVT was all still flexible-Coretec was introduced in 2013-leading to a long stretch of marketshare shifts between hard surface categories. Carpet was already well into its cycle of share loss to hard surface in 2012, and the following decade saw continued shift towards hard surface categories.
In residential remodel, carpet’s share fell from 32% in 2012 to just 19% in 2022, with equivalent share loss in multifamily and single-family. And almost all of that share went to rigid LVT; even flex LVT’s share has plummeted since then. LVT’s share more than tripled in residential remodel, grew sevenfold in multifamily and ninefold in the single-family market. The only other category to show gains across that decade was engineered wood, and most of that came in the first few years. In the last few years, that category has also ceded significant share to LVT.
For more information, contact Ed Hudson, director of market research, ehudson@homeinnovation.com or 240-678-4079.
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