Bill Darcy discusses the state of the industry in the U.S. and Canada and the appetite for product for European products.

By Dianne M. Pogoda

 

NKBA CEO Bill Darcy spoke with Tom Reynolds, CEO of the British trade group BMA (Bathroom Manufacturers Association), about the state of the industry in the North American market.

Of the total $139 billion expected in overall K&B sales this year, 55%, or about $77 billion, is generated in the bathroom segment — which is experiencing a strong rebound.

“Despite the pandemic, bathroom spending is only expected to decline by a half of a percent in 2020 compared to 2019,” said Darcy. “The whole remodeling market is rebounding well here, and 50% of consumers we surveyed recently planned to resume their postponed projects this year, and another 30% expect to resume in 2021. So that’s very good news.”

He noted that the rebound is being led by two areas: the low-spend DIY segment, which is only expected to decline 1% year-over-year, and the high-spend luxury segment, which is expected to decline 5.2%.

He attributed the relative strength in the industry to the fact that people have more disposable income, since they didn’t take extravagant vacations this year or engage in many other activities because of the pandemic, like going out to dinner or attending sports and entertainment events. They are choosing to direct these funds toward improving their kitchens and baths.

Darcy said there has been increased interest in anything related to sanitation and durability, specifically air purifiers; touchless or voice-activated faucets; anything anti-microbial, like door handles, countertops, and materials that are durable and easy to clean, in everything from cabinets to plumbing fixtures.

Reynolds asked about interest among North American companies for British and European brands. Darcy said the design community in NKBA’s home markets is always looking for new innovations, and unique products to bring to their customers.

“Adding the world, especially Europe, to their prospective product sourcing locations is wonderful for our community,” Darcy said. “Our designers are excited that we are continuing to engage with partners like BMA because it give them access, and it continues to grow.”

To view the entire interview, click here.