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The annual event, owned by the NKBA and produced by Emerald Expositions, is the largest North American trade expo and networking opportunity for kitchen and bath industry professionals.
Although YOY sales are still expected to increase, the impact of rising costs and higher rates has taken its toll on consumers who are pulling back on projects.
While both inflation and mortgage rate increases have impacted the segment, the overall annual forecast still represents a double-digit increase over 2021.
The quarterly report found that the industry enjoyed a successful opening quarter of the year, growing 12.6% in Q1, with industry professionals expecting further growth as the year continues.