The company reports that the market has been struggling with overcapacity for several years, caused by a shift in consumer preference towards alternative flooring types such as laminate, LVT and vinyl.
Once live, the site plans to offer a wide variety of materials and options for custom rugs at an accessible price range, manufactured on demand, as well as bespoke delivery in certain key markets.
This shift was first caused by the initial impact of [COVID-19] on housing demand, which favored lower density neighborhoods. The shift continued in recent months due to housing affordability conditions that are causing both prospective renters and buyers to expand their geographic search for housing,
Houzz reports homeowners are driven by both by aesthetic desires and functional necessities as they double down on their investment in these private sanctuaries
Although year-over-year sales are still expected to increase, the impact of rising costs and higher rates has taken its toll on consumers who are pulling back on projects.
The company said a year-over-year decrease in comparable store sales reflects continued lower spending by consumers due to pressure from inflation and higher interest rates and consumer preference to spend more on travel and entertainment.
This year’s FloorCon is taking the tempo up a notch according to Jeffrey Beiber, vice president marketing, Broadlume. The technology company aimed at independent flooring dealers has revealed a few changes to the multi-day event, including the increased show size and new show format.
The six-part video series features Metroflor Director of Design Natalia Smith as she walks viewers through the macro trends that are most relevant to flooring.