Carpet industry's delayed recovery
The damage caused by the recession will take the carpet industry four or five years to recover from, according to an industry insider.
While the effect of the economic downturn has certainly affected different businesses in the flooring industry to different extents it is undeniable that there has been a negative effect on all sales.
An extensive recovery period will not be good news for any carpet manufacturers or suppliers as many businesses have sustained a large drop in revenue.
The grim prediction has come from Mohawk CEO Jeffrey Loberbaum and has been reported by industry news provider Floor Daily.
Mr Loberbaum held a decrease in customer confidence, weak housing growth and the rising cost of oil responsible for the downturn.
Each of these factors is causing difficult times for all businesses and the flooring industry has not been exempt.
Carpet sales have dropped by almost 40% since the peak in carpet sales, which was almost five years ago, he noted.
One contributing factor for lower carpet sales may also be the increasing number of homeowners who prefer to use wood flooring in their homes.
Mohawk is a flooring company with an extensive range of domestic carpets in a number of different styles, designs and colours.
