Percent of Remodel Budget Devoted to Flooring Has Declined

Orlando, FL, January 21, 2025-At the 2025 Shaw Flooring Network convention in Orlando, Florida, Betti Packman, partner/principal with EY-Parthenon and Ivan Kleinfeld, senior director with EY-Parthenon reported that, in the last 22 years, the percentage of remodel budgets devoted to flooring fell from 11% in 2003 to 6% in 2021.

The decline is attributed to three factors: the lack of strong brands in the flooring industry; the focus on price over style and design; and shift to lower-priced flooring products.

Further, the group reported that the average purchasing journey is six months, and 40% of consumers opt out without a purchase.


Related Topics:Shaw Industries Group, Inc.