Luxury Vinyl Tiles, the LVT flooring category is considered a very low risk and stable product in the flooring market. Due to the fact that LVT offers competitively lower price points with low maintenance costs, the LVT products has a very stable market growth performance even when facing uncertainties in the economy. In fact, entry price points LVT flooring will stand out across all categories of floorings as both property owners and commercial projects try to explore for low cost flooring solutions.
How LVT Flooring Perform in United States Market during Pandemic Time
During the Covid 19 Covid Pandemic time, the overall floor covering market has continued to grow in the US market. However, per the observation by different categories, flooring products such as Laminate flooring, Stone Flooring, Hardwood Flooring and even Carpet has show fluctuation in market sales. However, with the resilient LVT category, the $ value on sales are on positive growth every year, indicating strong market resilience even when economic are hit with uncertainties.
The USA market also showed a consumer preference change from soft surface flooring (Carpet) to hard surface floorings. With the currently market conditioning, we expect the LVT to continue to grow with high consumer preference for inexpensive flooring options.
Qualities that make LVT a Market Resilient, Low Risk, and Stable Products for Flooring Businesses
- LVT offers inexpensive floor covering options
- LVT is easy to maintain with minimum costs
- LVT is waterproof and durable
- LVT is easy to install
Flooring Business to Diversify with Resilient Flooring Collections
Given that LVT product category offers a very low risk and stable market growth, creating LVT product offerings and product collections is a must do for flooring businesses.
Type of LVT Products to Consider Adding into Product Offerings
- Dry Back Vinyl Tiles
- Semi-Rigid Vinyl Plank with Click & Lock Installation
- Rigid Core SPC Flooring with Click & Lock Installation