The National Kitchen & Bath Association (NKBA) today released the results of its modified 2020 Kitchen and Bath Market Outlook, updated to account for dramatic changes in the industry resulting from the COVID-19 crisis. The report places the value of the residential K&B industry at $130.8 billion, and also includes a consumer study illuminating the latest attitudes toward remodeling. 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 as hurdles to home improvement during the crisis. At the same time, however, 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.
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