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Article: Hardwood still popular choice.(STATE OF THE INDUSTRY)
- Article from:
- Wood & Wood Products
- Article date:
- October 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 Vance Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Great Recession has had an impact across many industries and the hardwood flooring sector is no different. Many companies have taken a survival posture and are reevaluating their business plans to identify ways to strategically reposition themselves for the upcoming year.
Although a recent study by The Freedonia Group projects positive gains for hardwood flooring in the next few years, the current situation is stilt sobering. According to the Floor Coverings Report, unemployment rates and a decrease in household wealth Led to an increase in consumer demand for Lower-priced products, such as carpet and vinyl flooring. The report continues by stating, "The above ...