Increasing Interest in Cabinet Refacing Reflects Complexities of COVID-19 Remodeling Market

A recent article highlighted the strong growth in sales of N-Hance, a firm that provides refacing services for cabinetry, wood floors, doors, and furnishing. The company, which can either use a proprietary process to remove dirt and particulates from surfaces, or completely change their surface look, has seen demand for its services rise as many homeowners – spending more time in their residences – decide that it is time to change the look of their kitchens and other rooms of the house.

However, this growth in sales demonstrates another facet of this COVID-19 economy –  namely, that while interest in home renovations remains high, many homeowners – beset by furloughs and job losses, as well as general economic uncertainty – do not have the financial means to undertake large-scale home renovations. These consumers are increasing looking to firms such as N-Hance to provide more modest (and budget-friendly) home improvement services.

Going forward, companies that can provide less expensive home renovations will continue to see sales gains as cost-conscious consumers look to upgrade their homes for minimal expense, such as:

• Refacers of cabinetry
• Companies that resurface countertops, such as by granite or engineer stone veneers
• Firms that install new bathtubs and shower surrounds in existing bathrooms
• Painting contractors
• Firms that specialize in installing LVT or flooring with click-based installation systems

For more information and discussion of opportunities, see The Freedonia Group’s extensive collection of off-the-shelf research, particularly in the Construction and Building Products. Freedonia also offers an expanding catalog of COVID-19 Economic Impact reports, which highlight how various industries are responding to the current crisis with a comparison to recent recessions. Freedonia Custom Research is also available for questions requiring tailored market intelligence.