WarmlyYours’ Second Quarter Report for 2015
Factoring into the report is information from the National Builders Association, the National Association of Remodelers Industry (NARI) and the LIRA Report, which looks at remodeling activity and projective remodeling activity. According to the report, remodeler confidence is on the rise, and it shows in WarmlyYours’ growth: We’ve seen an 8.2% increase in our sales from the 2nd quarter in 2014, and the increase is coming from three areas: snow melting and deicing products, towel warmers, and in-floor heating cables.
Check out this video to learn more about the second quarter report for 2015.
Hey there, my name is Julia Billen. I am the owner and president of WarmlyYours Radiant Heating. Today, we're here to talk about the 2015 industry report on radiant heating for the 2nd quarter. When we report out on the industry, we like to look at it on two levels, what's happening globally in the industry and what's happening with WarmlyYours. As we talk about the industry in general, we look to organizations like the National Builders Association, and NARI, the National Association of Remodelers Industry. We also like to look at the LIRA Report. This looks at remodeling activity, projective remodeling activity.
Remodeling & Radiant Heating Activity Trends
According to the National Association of Home Builders, builder confidence hit the highest level since November 2005. Remodeler confidence continued its positive run for the 9th consecutive quarter. Now, for NARI, the National Association of the Remodeling Industry, 69% of remodelers reported growth in their businesses during the 2nd quarter and 68% expect to see some level of growth in the 3rd quarter. The housing market is expected to have even more growth in the 2nd half of 2015 and LIRA is indicating a 4% increase in home improvement spending in the 1st quarter of 2016.
WarmlyYours and the market in general is anticipating steady growth. That's how the market is growing in general. How is WarmlyYours doing against that market growth? The good news is Warmly Yours has seen an 8.2% increase in our sales over the 2nd quarter of 2014. That's consolidated for North America. We have a headquarters in the US and in Canada, with consolidated growth of 8.2%. We are absolutely on market trend. Where is that increase coming from? Three areas. Snow melt and deicing, 40% increase. Our towel warmers, 24% increase. Our in-floor heating cable product has increased by 65%. Those are the exciting products that are supporting the growth of WarmlyYours.
Geographic Trends in Radiant Heating
Where are we seeing these increases across the nation? Well, for us, there have been five key areas this quarter, Columbus, Ohio with a 183% increase, New York with a 31% increase, San Francisco, a 29% increase, Boston, 12% and Chicago, 4%. That's over the same quarter in 2014. The core of WarmlyYours businesses are indoor radiant heating product lines. We still generate a significant portion of our revenue from those products. As you can see here, 88% come from our TempZone™ in-floor radiant heating products for tile and stone and 12% of our business is related to our environment product for under-carpet and laminate woods. As usual, you will find these products predominantly in bathrooms at 59% of the opportunities and sales of in-floor radiant heating products being done in a bathroom.
Well, that sums up my report. Thanks for the chat. You can find this report online. Just go to warmlyyours.com. Navigate to the more area and under our press section, you'll find the full report for your viewing, reading pleasure. Thanks and have a radiant day.