2019 Q4 & Annual Industry Report
Explore the key factors driving growth in the radiant heating industry and WarmlyYours's standout performance in Q4 2019.
Struggling to understand the dynamics of the radiant heating market in 2019? This video offers a comprehensive analysis, highlighting key trends and growth drivers. Discover how WarmlyYours leveraged these trends to deliver an outstanding performance in Q4 2019.
- Insight into the 9% consolidated sales growth, fueled by an 8.1% increase in the US and a 14.1% spike in Canadian sales.
- Detailed analysis of the 5% uptick in floor heating sales, with special focus on TempZone shower mats, cables, and Easy Mats.
- Overview of the 74.4% astonishing rise in snowmelt sales, driven by heightened public awareness and a harsh winter.
- Explanation of why the TempZone cable is a preferred choice among professional flooring installers.
- Insights into why 87.2% of all floors heated by WarmlyYours were tile, marble, or stone, and 61.7% of all floor heating projects were in bathrooms.
- Discussion on the surge in sales through Amazon, particularly the popularity of the TempZone Easy Mat as a floor heating kit.
This in-depth report is valuable for both newcomers and professionals in the housing and remodeling markets. It offers insights into the future of the radiant heating industry, ensuring you're well equipped for strategic decision-making.
Hello, my name is Cameron Whitbeck, and I'm the marketing communications manager for Warm-Lite's radiant heating. We're here today to discuss our quarter four 2019 industry report. This report analyzes the performance of radiant heating sales within the wider context of the housing and remodeling markets. To start, let's take a look at the fourth quarter of 2019. In this quarter, we saw consolidated sales grow by 9%, driven by an 8.1% increase in the United States and a remarkable 14.1% growth in Canadian sales. A significant portion of this growth can be attributed to a 5% uptick in floor heating sales. However, the standout contributor to our volume increase was a staggering 74.4% rise in snowmelt sales. When comparing 2018 to 2019, WarmlyYours observed that the percentage of total sales from snowmelt systems rose from 14% to 23%. This surge was largely due to heightened public awareness of snow melting systems, coupled with a particularly harsh winter between 2018 and 2019.
Several electric floor heating products also played a crucial role in driving fourth-quarter growth. Among these, the Tempsol shower mats emerged as the fastest-growing products, boasting an impressive growth rate of 221.4%. However, the largest volume increases were seen in the Tempsol cables and Tempsol EZ-Mats, which grew by 13.2% and 15.8%, respectively. The Tempsol cable has become a favored choice among professional flooring installers for several years, primarily because it can be paired with an uncoupling membrane, leading to expedited installations. Homeowners also appreciate this product for its long-lasting benefits to fragile flooring substrates or coverings, such as tile.
The Tempsol EasyMat not only experienced growth in the fourth quarter but also showed consistent year-over-year growth throughout 2019, with a notable increase of 10.3%. Several factors contributed to this success. First, in the past year, 87.2% of all floors heated by WarmlyYours were tile, marble, or stone, which are commonly paired with our Tempsol heating products embedded beneath them. Additionally, approximately 61.7% of all floor heating projects were located in bathrooms. The Tempsol EasyMat is particularly well-suited for bathroom applications, as it allows for targeted heating in areas that require it most, helping to save on both material and operational costs.
Furthermore, sales through Amazon have surged by 125.9% year-over-year. The Tempsol EasyMat, especially when paired with a thermostat, has proven to be extremely popular as a floor heating kit. We anticipate this trend will continue well into 2020 as more homeowners and professionals turn to Amazon for their heating needs. This prediction aligns with the latest remodeling activity report from the Joint Center for Housing Studies of Harvard University, which suggests that remodeling expenditures will remain relatively flat throughout most of 2020, with a slight gain expected in the fourth quarter. To read our industry report in full, please visit our press page at warmlyyours.com.
