The North American kitchen and bath (K&B) industry is experiencing varied growth patterns across different regions:

- Florida: +6% year-over-year growth

- Southwest and Southeast: -5% and -3% year-over-year declines

- Northwest, Midwest, and Northeast: 1-2% growth

Emerging Trends

West Coast: The "Missing Middle" Phenomenon

California's polarized market:

- Strong demand for high-end renovations

- Slowdown in mid-range projects

Millennial Impact in the Northeast

Millennials provide an unexpected boost to the K&B market in the Northeast.

Labor Shortages in the Midwest

Persistent lack of skilled labor hampering major K&B renovations.

Economic Area Insights

High-End Markets

- Florida: Strong high-end remodeling

- California: Robust demand for luxury renovations

Emerging Markets

Idaho stands out in the Northwest, showing increased demand.

Challenged Markets

Southwest: Pockets of growth in new construction despite overall decline.

Personal insight:

1. Generational Divide in Consumer Behavior:

- Boomers driving modest growth

- Younger homeowners turning to online merchants

2. Remote Work Impact:

Florida's high-end market is potentially linked to the rise of remote work.

3. Supply Chain Resilience:

Varied regional performance indicates differences in supply chain adaptability.

4. Sustainability Focus:

Potential overlooked factor driving consumer choices, especially among younger homeowners.

Thank you for your reading!

#Sustainability #GreenDesign #ConsumerPreferences#SouthwestConstruction #MarketRecovery #RegionalChallenges #EmergingMarkets #IdahoGrowth #NorthwestTrends #LuxuryRemodeling #HighEndMarkets #FloridaRenovations#LaborShortage #MidwestChallenges #SkilledWorkforce#MillennialHomeowners #NortheastMarket #GenerationalTrends#CaliforniaRenovations #LuxuryDesign #MarketSegmentation

Citations:

[1] https://kb.nkba.org/product/2024-kitchen-trends-report/

[2] https://nkba.org/insights/research/

[3] https://nkba.org/research/kitchen-bath-market-index/industry-pros-reveal-emerging-regional-kb-trends/

[4] https://nkba.org/news/design-trends-news/5-ways-to-finish-projects-faster/

[5] https://nkba.org/insights/research/kitchen-bath-market-index/

[6] https://kb.nkba.org/research/q1-2024-nkba-john-burns-kitchen-bath-market-index-kbmi/

[7] https://nkba.org/research/kitchen-bath-market-index/labor-remain-kbs-biggest-challenge/

[8] https://kb.nkba.org/research/nkba-john-burns-kitchen-bath-market-index-kbmi-q3-2023/