DESPITE COVID-19 SETBACKS, RESIDENTIAL KITCHEN AND BATH MARKET STILL VALUED AT $130.8 BILLION
The report places the value of the residential K&B industry at $130.8 billion. The report also includes a consumer study illuminating the latest attitudes toward remodeling. As hurdles to home improvement during the crisis, consumers cited fewer resources, fear of outsiders coming into the home, limited access to industry professionals, store and showroom closures, less income and fear of job loss. At the same time there were bright spots, including more free time, decreasing expenditures in other areas, an opportunity for DIY work, increased time spent at home and a focus on home projects. “Our initial 2020 Kitchen & Bath Market Outlook was conducted in late 2019, before the pandemic hit our members and homeowners in the U.S. & Canada,” said Bill Darcy, NKBA CEO. “Kitchen and bath spending had been increasing steadily prior to the pandemic, at 9% in 2018 and 4% in 2019. As such, the original report projected a strong 2020, bolstered by an especially bright Q1. While the COVID-19 crisis, unsurprisingly, led to a double-digit decline in spending across all major categories, we are already seeing signs of positive growth as shelter-in-place orders are lifted, and we’re optimistic about the industry’s long-term health.”
IFA has been given the go-ahead to take place in 2020 as a real-life event in Berlin, based on a special concept that puts health and safety first. The invite-only event will put strict limits on the number of attendees and will focus on iFA’s four global core functions.
IFA 2020 will be the first opportunity for the consumer electronics and home appliances industries to present new products and services directly to the media, and by extension, to consumers and the trade. The event also comes just ahead of the year’s most important shopping season stretching from Black Friday and Singles Day to Cyber Monday, Christmas and beyond. The concept for IFA 2020 was developed in close collaboration with public health authorities in Germany to ensure the health and safety of all participants. As a result, IFA 2020 will not be open to the public but will be an invitation-only event.
By Robert Bruce Shaw
As a psychologist once noted, “When people with creative energy succeed in putting their obsessive personality traits to good use, everyone benefits.” What personality trait is found in all extraordinary leaders? A passionate commitment to achieving their vision that borders on and sometimes crosses the line into obsession. All In shows leaders and aspiring leaders how obsession, if properly focused and managed, is necessary and productive. Advances in any field almost always depend on a small group of individuals who are completely consumed by the goal they’re pursuing.
About The Author
Robert Bruce Shaw helps business leaders build organizations and teams capable of superior performance. His specialty is working closely with senior executives, so they can understand and address the challenges modern businesses face – especially the need to maximize organizational and leadership effectiveness, both crucial for any company to remain relevant and competitive. Shaw holds a PhD in organizational behavior from Yale University and has authored books on leadership and team building.
Publisher: HarperCollins Leadership