The Outlook for Kitchen and Bath

The Outlook for Kitchen and Bath

Annually, the National Kitchen & Bath Association publishes an industry outlook. Like most everything else that has occurred in 2020, the optimistic prediction at the start of the year took a dramatic about-face when stay-at-home orders were issued in the middle of March. Recently, NKBA has updated its outlook to account for the impact of COVID-19. The updated study found the following according to a recent article in Kitchen & Bath Business.

  • 11% of planned kitchen and bath remodeling projects as of mid-April were canceled or postponed because of the virus.
  • Spending on kitchens fell 25%, master bath dropped 18% and second baths dipped 14%.
  • Spending on medium and larger K&B renovation projects is expected to drop by 22%. Spending on smaller projects is expected to fall by 14%.
  • Projects that continued saw reliance on designers at 25% compared to 38% before COVID-19.
  • Homeowners who continued with their projects during the pandemic opted for lower-priced products and were more likely to use DYI labor.

Primary reasons why projects were scrapped or postponed were fewer resources, fear of strangers entering their homes, limited access to industry professionals, decline in income, fear of job loss and showroom closures. Financial concerns were cited by 25% of homeowners that delayed or canceled their projects.

Nearly 33% of Americans reported that they have changed the way they view their kitchens and baths due to COVID-19 focusing on health and safety, quality, function and design. For Americans working from home, 38% have changed how they think about their kitchens and baths, and 19% of those working from home reported wanting to renovate their kitchen or bath.

The report is free to NKBA members. Call 800-843-6522 to order the 2020 Kitchen & Bath Market Outlook: Q1 Update.

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