The Global Flooring Alliance reports that while members are still seeing positive sales growth, profit and margins are under pressure.
Last month, the Global Flooring Alliance (GFA) scheduled an additional meeting to discuss the current market situation in the flooring industry. The group reports that high inflation, rising energy and transport costs and the war in Ukraine are putting pressure on margins worldwide. They concluded that price increases are necessary because of all these costs. However, caution is advised since the consequence of this is that at the end the consumer is presented with the bill. The market should not be ‘locked’ due to ill-considered price increases.