Description

The NKBA/ John Burns Kitchen & Bath Market Index (KBMI) provides a comprehensive snapshot of the kitchen and bath industry, with insights drawn from professionals in the design, building and construction, manufacturing and retail sectors. Based on feedback from 419 respondents, the Q3 KBMI study examines current levels of demand, future demand expectations and the issues and challenges facing the industry.

By synthesizing feedback from diverse industry segments, this report is invaluable for understanding market dynamics.  It equips professionals with the knowledge needed to navigate the evolving landscape of the kitchen and bath market effectively. Whether you’re looking to capitalize on emerging market trends or address potential hurdles, the KBMI serves as a vital resource for strategic decision-making.

Key Takeaways

  • The KBMI for Q3 2024 has remained relatively stable, showing a slight decline from 54 to 53 as economic uncertainty has led many consumers to delay kitchen and bath upgrades. 
  • This dip in consumer confidence has contributed to a more stagnant market, prompting K&B professionals to adjust their 2024 revenue growth projections down to 1.3% year over year (YOY), compared to 2.7% in the previous quarter.
  • On a positive note, K&B retailers experienced a 4.5% quarter-over-quarter (QOQ) increase in their KBMI ratings, fueled by optimism about improving economic conditions. Retail is the only sector anticipating a sales increase in the fourth quarter of this year.
  • Overall, 2024 is expected to conclude on a neutral note, with average revenue growth for K&B projects at 0.7% in Q3. However, many K&B professionals are optimistic about a robust market recovery in 2025, with anticipated revenue growth ranging from 4% to 9% YOY.

Additional Topics Covered

  • KBMI and its core metrics by segment
  • Revised 2024 revenue growth expectations by segment
  • Major growth constraints for K&B firms
  • Lead quality for K&B projects based on project size
  • Average product/project price increases by segment
  • Geographic insights for select regions and states