KBzine: your kitchen and bathroom industry news - first
17th May 2013
Q1 figures reflect second highest mark in two years
The US National Kitchen & Bath Association (NKBA) has released the Kitchen & Bath Market Report for the first quarter. Results conveyed that showroom traffic, which is traditionally up and down from quarter to quarter, rose 8% in the first quarter of the year to 24 consumers visiting the average kitchen and bath showroom in March. While this remains 13% down from a year ago, Q1 of 2011 was a particularly standout quarter. This quarter's figure is the second-highest mark over the past two years.
"We are encouraged to see the numbers supporting the optimism felt by dealers," says Alan W. Zielinski, CKD, 2012 NKBA President. "With showroom traffic up, the industry is sure to see some stabilisation in the next quarter."
The NKBA Kitchen & Bath Market Index (KBMI), which measures the confidence of kitchen and bath dealers on a scale of -60 to +60, is at +32 for the fourth quarter, showing that kitchen and bath dealers forecast a healthy expansion in the market over the next three months.
The NKBA KBMI is determined by averaging expectations of NKBA member kitchen and bath dealers during the next quarter based on expected increases (+1), decreases (-1) or no change (0) in each market condition. That total is divided by the number of dealers surveyed and multiplied by 10, which gives the KBMI a range of -60 (pessimistic) to +60 (optimistic). The NKBA KBMI surveys approximately 150 kitchen and bath dealers across North America each quarter.
NKBA KBMI overview
Up 8% from previous quarter; Down 13% difference from previous year
59% anticipate an increase in Q2; 3% anticipate a decrease
Kitchen remodels sales volume:
Up over 50% from previous quarter; Up 17% from previous year
67% anticipate an increase in Q1; 4% anticipate a decline
Kitchen remodelling prices:
Up 6% from previous quarter; Up 11% from previous year
31% anticipate an increase; 2% anticipate a decrease
Bathroom remodel sales volume:
Up 26% from previous quarter; Up 9% from previous year
53% anticipate an increase; 2% anticipate a decline
Bathroom remodelling prices:
Up 1% from previous quarter; Up 18% from previous year
28% anticipate an increase; 1% anticipate a decline
Kitchen and bath revenue:
Up 50% from previous quarter; Up 30% from previous year
66% anticipate an increase; 4% anticipate a decline
The US National Kitchen & Bath Association (NKBA) is a non-profit trade association with over 50,000 members, that has educated and led the kitchen and bath industry for more than 45 years. NKBA.org provides consumers with an inspiration gallery of award-winning kitchen and bath designs, as well as articles, tips, and an extensive glossary of remodelling terms. At NKBA.org, consumers can also find certified kitchen and bath professionals in their areas, submit questions to NKBA experts, and download the free NKBA Kitchen Planner and NKBA Bath Planner.
T: 1-800-THE-NKBA (843-6522)
8th June 2012