Hardwood Floors October/November 2024

WHICH OF THE FOLLOWING INITIATIVES WILL YOU IMPLEMENT IN THE SECOND HALF OF 2024 AND INTO 2025?

Hardwoods, said. “It has been gradually climbing, but the prefinished market has been more dominant now than ever. People are not looking for the custom site-finished floor as much as they are the prefinished installation.” However, one NWFA member said: “I don’t see them as a long-term threat. Carpet, tile, and stone all have their place and a shared market with hardwood. Laminate and LVT will be an ongoing challenge for the next three to five years, but will trend out as consumers become educated.” More than 82 percent of NWFA members report that they have been able to position real wood as a premium flooring option that demands a higher price. Despite higher-end flooring markets remaining historically insulated against pricing pressure, one member said even those clients are becoming more cost-conscious. What would help members insulate against threats? Some say more competitive pricing and warranties on wood flooring, as well as lower shipping prices. Another said the industry needs to get better at telling its story and educating clients on the sustainability, environmental, and health benefits of real wood flooring. “The wood flooring industry must combat the false message that resilient flooring is indestructible and the best choice for flooring. Educate the public that wood is the greenest flooring product on the market. Most hardwood is considered a 100-year floor that can change color with the trends. LVT products are petroleum based and have a set color. As of today, there is no recycling program for the material. Any changes or damage results in replacement and material added to the landfill.” One member said that the industry needs to market the eco-friendly factors of wood flooring and dispute misleading claims from other flooring types. “The push by the design market, media, and lower-end builders that it is bulletproof. This will be short-lived, but it is affecting the market.” Another NWFA member said more claims are showing up, exposing the limitations of those products.

Improve processes to become more efficient

65

Add new product categories, lines or services

43

Invest in / leverage existing technology for growth Improvements to increase resiliency of my supply chain

42

36

34

Add to my team

Add new locations / expand geographically

22

13

None

9

Other

5%

0%

15%

10%

35%

70%

25%

55%

65%

30%

45%

20%

50%

60%

40%

HAS COMPETITION FROM WOOD-LOOK PRODUCTS (SUCH AS LVT, WPC, LAMINATE) HAD A NEGATIVE EFFECT ON YOUR REAL-WOOD PRODUCT SALES?

20

NO

UNSURE

11

69

YES

the magazine of the national wood flooring association

45