Kitchen Industry Trends
Federal Brace recently tuned in for a webinar hosted by Sola Group, publisher of Kitchen and Bath Design News, Residential Design and Qualified Remodeler, in conjunction with Houzz, an online platform for both designers, businesses, and consumers to come together in celebration of beautifully designed renovations, remodels, and builds. Kathleen Hegedus, an industry marketing professional with Houzz. Throughout the webinar we focused on kitchen and bath trends that have been slowly building over the last few years and that promise to be formative within the market for years to come. Over the course of a three year study, Hegedus and Houzz analyzed data from users to determine what the future of renovation within the home was and how industry professionals can improve in their respective roles.
Baby Boomers (ages 55+) are the power spenders and avid renovators of the modern times and make up over 41 million household in the United States. Over 50% of renovators come from this demographic (and merely 31% from Gen X), primarily from suburbia, which may point to an increasing long-term look from older age groups. There is also a vast difference in price point for various age groups: while millennials choose to conserve their money, spending around $30,000 on kitchen and bath renovations and $13,000 on master bath renovations, Baby Boomers are expected to spend upwards of $54,000 on kitchens and more than $30,000 on master bath.
With this upwards tick in spending by Baby Boomers, many trends have emerged. Aging-in-place upgrades have become the norm in many homes, with upper cabinetry being replaced by shelving, hip-height countertops for accessibility, and ADA-compliant vanities. No-threshold and low-threshold showers have become more prevalent in master bathrooms. Within the kitchen, we are seeing more advanced smart technologies and the rise of the “Super Kitchen”. Spending an average of 3+ hours in the kitchen per day does make one want it to be comprehensive and comfortable! More homeowners are extensively planning their projects, with most taking over 8 months on a kitchen or bath project. With this planning comes a desire for greater access to the best products and service providers.
As a whole, kitchen and bath are the most popular renovation reported on Houzz. Nearly 1 in 6 homeowners renovate their kitchen and 1 in 5 renovate their master bath. There has been an increase in renovations performed by professionals and an increase in spending at every level, as more people turn to preserving the past and more educated consumers purchase higher-performing products.
For more industry trends and home design updates, visit Federal Brace at www.federalbrace.com or contact their experienced design team at customerservice@federalbrace.com.
