Hardware Retailing The Industry's Source for Insights and Information
Kitchen and bath full-year industry revenues are expected to reach a record $199 billion in 2022, with an anticipated growth of 19 percent for the second year in a row. Whether they are replacing a kitchen faucet or undertaking a full bath remodel, here’s what homeowners can expect when taking on kitchen and bath projects this year.
Return of the Pros
Rising costs will drive some homeowners to take on projects themselves, but 85 percent of remodels will include professional involvement.
Project Backlog
Designers report an average of three months of project backlog due to pent-up demand for premium upgrades, supply chain issues and a lack of skilled labor.
A New Customer Base
The 23 percent increase in relocations from big cities to midsize or small metropolitan areas brings a different customer base to retailers.
Sources: The National Kitchen & Bath Association: 2022 Kitchen & Bath Market Outlook, The New Normal in Kitchen and Bath Webinar, 2021 Conference
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