Flooring Industry News September 2022

Flooring inflation surging

In the most recent data from the Office for National Statistics, the sector of carpets and rugs’s reducing retail inflation from last month has been reversed (ONS).

For carpets, the inflation rate increased from 4.9% in July to 7% in August. The high inflation rates for smooth flooring, which were at 16.9% in July and have decreased by almost 2% to 15.1%, have, however, slightly moderated.

While overall retail inflation in the furniture industry is still running quite high at 15.6%, it increased from 6.4% to 8.1% in the flooring sector.

Read the article in The Stocklists.

Flooring shows it can rise to the challenge

The show must go on, and Harrogate is still the place where it occurs and where flooring professionals demonstrate their adaptability to make the most of a difficult market, regardless of Covid or the sombre passing of Her Majesty, not to mention the rollercoaster of consumer confidence and the cost-of-living crisis.

While the booths remained silent on Monday in remembrance of the deceased, exhibitors profited from busy days on Sunday and Tuesday with high-calibre presentations from top firms and a reassuring level of new product development on display.

Read the article in The Stocklists.

Consumer confidence slips in August

According to analysts, consumer confidence has dropped the most since the pandemic’s early stages, and furnishing sales declined in August.

The Consumer Confidence Index (CCI) decreased by 4.2 points in August, from 103.0 to 98.8, as people become more stressed out as we approach winter due to inflation, which is mostly driven by increases in energy prices. Benchmarked at 100, consumers are often more optimistic above that number and pessimistic below it.

Read the article in The Stocklists.

Purchasing confidence at historic low

The GfK Major Purchase Index, the most accurate indicator of consumer confidence for flooring and furniture, has stopped declining but is nevertheless stuck at a record low.

The Index was unchanged from August’s statistics today at minus 38, the lowest reading ever since the pandemic’s peak in May 2020. The index was at -6 at same time last year. The long-running GfK Consumer Confidence Index fell five points overall in September to minus 49, a new record low.

Read the article in The Stocklists.

2022 CFJ/CFA Awards wows the industry

Unquestionably the largest event of its type in the flooring industry, the CFJ/CFA Awards, which were held on Friday, September 9 at Coombe Abbey in Warwickshire, and were hosted by nationally renowned comedian Jo Caulfield, stunned the industry. With roughly 500 visitors present, winners were revealed in each of the product and company, installation, and individual categories.

Read the article in the Contract Flooring Journal.

Review of The Flooring Show

Responding creatively and imaginatively to the challenge of challenging trading conditions for Q4, the flooring industry revealed new products at The Flooring Show last week

The main themes included moving upmarket to guarantee higher margins, adding more colour and micro patterns, and using more wool. Check out our first photos from Harrogate.

Read the article in The Stocklists.

FURTHER READING

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