Percent of Remodel Budget Devoted to Flooring Has Declined

Percent of Remodel Budget Devoted to Flooring Has Declined

January 21, 2025, from Floor Focus FloorDaily News

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.