The Remodeling Industry
The slowing of home sales in the current economy has led to a boom in the remodeling industry. The industry itself is close to a $300 billion dollar industry.
The National Kitchen & Bath Association in its 2008 Kitchen/Bath Industry Outlook report notes that the
Kitchen remodeling jobs increased in 2007, to almost 7.6 million jobs, up 1.7% from 2006 totals. But spending on those jobs will total only $96.2 billion, down 24.3% from last year.
The study shows that while both kitchen and bath remodeling remain the most popular home remodeling choices, bath remodeling is by far the most popular and jobs are not as elaborate as they were in the heady days of the real estate boom.
Some lifestyle trends bode well for the industry:
- Cocooning continues to be the dominant lifestyle trend, with consumers retreating to the privacy of their home for leisure time, and the rooms’ functions evolving to meet these new needs.
- The number of households with two earners continues to grow, which means that bathrooms have to change to accommodate two adults getting ready at the same time.
- Media attention on the kitchen and bath continues to grow, with television programs, web sites, magazines and books giving consumers more choices in product and styling.
AnchorBayTile.com is a full service online store offering all types of ceramic tile, glass tile, and metal tile for homeowners and commercial customers.
“We have seen a steady increase this past year in sales in both our Kitchen & Bath segments” says Steve Khan, founder and president of AnchorBayTile.com. “Tile for kitchen backsplashes, showers, tub surrounds, and vanity splashes have remained strong for our company throughout 2007 and we expect more of the same for 2008.”
The minority-owned company is poised to grow by attracting customers looking to save money on their remodeling jobs, as low prices and flat-rate shipping are flagship offers of AnchorBayTile.com.