flexiblefullpage - default
interstitial1 - interstitial
Currently Reading

2023 Game Plans: Modest Growth Expected in Bathroom Remodeling Market

billboard -

2023 Game Plans: Modest Growth Expected in Bathroom Remodeling Market

Remodeling industry Thought Leaders share their perspectives on growth, challenges, and plans for the new year

By Brad Hillier January 13, 2023
remodeling bath market
Photo: Tomasz Zajda | stock.adobe.com
This article first appeared in the January/February 2023 issue of Pro Remodeler.
brad hillier rebath
Brad Hillier
CEO, Re-Bath

Industry Growth

My expectation is that growth in the bathroom remodeling market will be modest in 2023—flat to low single digits. The increasing rates will lead to more people staying in their homes, which tends to result in more remodeling activity. However, with the increased cost of borrowing, the market might see the opposite effect on larger ticket items like bathrooms.


Re-Bath Growth

We’re planning to outperform the market because of the way our business model is built around marketing and the amount of additional funds that we’re putting toward those efforts. So, we’re projecting growth in the 18-20% range for 2023 and plan to take market share.

We need to return to fighting to win jobs by focusing on the value we’re adding for the customer.


I’m a little bit nervous about the capital markets. With the interest rates going up, will the financing companies be able to get the spreads that they’re looking for? Or will they start to tighten their policies around credit scores?

We might start to see some restrictions on lower credit score individuals and whether we can get them financed or not. That could be a challenge that we’re facing because 40-45% of our projects are financed through our finance partners, and another portion is financed through individual customer HELOCs and other programs like that.


RELATED: 2023 Game Plans: Less Growth, More Marketing


The frenzy we’ve seen in the market over the past couple of years is over. Everyone was so busy that they didn’t really need to follow up with customers.

We’re going to see more patient consumers who will take longer to make decisions and commit to bathroom remodeling projects.

We need to return to fighting to win jobs by focusing on the value we’re adding for the customer, as opposed to sort of taking orders like we have been the past couple of years.

Our salespeople will need to adjust and be patient with the consumer, and respond in meaningful ways as they think about spending money with us.

That’s a pivot in mindset that some people will have a difficult time making.


Read all 2023 Thought Leader predictions and game plans here

Add new comment

Plain text

  • No HTML tags allowed.
  • Web page addresses and email addresses turn into links automatically.
  • Lines and paragraphs break automatically.
leaderboard2 - default

Related Stories

Forty Under 40 Remodeling Trendsetters

The new ideas embraced by our Forty Under 40 winners are examples of forward-thinking leadership in remodeling


How to Create a World-Class Remodeling Team

Great remodeling companies position themselves for the future with the right players

How to Increase Your Odds of Closing Remodeling Sales

Use these tips to hone your sales process and grow close ratio

Everyone Should Have a Number: KPIs for Your Design Build Team

Measuring key performance indicators guides your team to success while creating accountability and ownership

Becoming Profitable in Your Remodeling Niche

The 2023 NAHB Remodelers Chair shares insights and advice for contractors in our 2024 Thought Leader predictions series


Combat Remodeling Market Pullback with Increased Marketing

Mosby Building Arts' president shares his expert predictions and approaches to remodeling in 2024 for Pro Remodeler's Thought Leader predictions series

4 AI Tools for the Content Creating Contractor

Let artificial intelligence do the work

A Mindset of Serving Others

A research study shows surprising results about what makes us take ownership of our work.

4 Surprising Home Improvement Trends for 2024

Leaf Home CEO Jon Bostock offers insight on topics and trends that will impact the home improvement industry this year

Preparing for an Uncertain 2024

Here's how remodelers can prepare for unpredictable market

boombox2 -
halfpage2 -
native1 -

More in Category

native2 -
halfpage1 -
leaderboard1 -