Floor Covering Stores in the US
Sales improved for operators in the Floor Covering Stores industry over the five years to 2019. Professional contractors and homeowners typically purchase industry goods while undergoing new residential construction and home renovation projects. Therefore, the steady rise in housing starts and remodeling activity over the past five years helped increase demand for industry retailers. During the five-year period, demand conditions have improved in line with the strengthening economy. Over the past five years, competition from home improvement stores, such as the Home Depot Inc. and Lowe's Companies Inc., has limited industry growth. By leveraging their size, these national retailers have achieved significant cost savings on comparable products and passed them down to consumers in the form of lower prices. Consequently, home improvement stores have been increasingly attracting customers away from industry retailers, pressuring industry revenue. As a result of the continued strengthening economy, IBISWorld forecasts steady growth for the industry over the five years to 2024. While competition persists, growth in the housing market will boost overall demand for floor coverings, benefiting the industry.
Establishments in this industry retail carpets, rugs, tiles and vinyl flooring. Most operators manage sales and administrative activities, such as customer service, product merchandising, advertising, inventory control and cash handling. Some operators also offer installation or repair services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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