The most recent quarterly report from ITR Economics indicates an accelerated growth phase for the self-service laundry industry.
From Planet Laundry:
“The ITR Quarterly Economic Report examines conditions of the general economy, as well as offering a specific analysis of the laundry and dry cleaning industry in the U.S. It provides an update as to where the self-service laundry industry is within the current business cycle and how that relates to the overall U.S. economy. What’s more, the report includes management objectives specific to the self-service laundry industry.”
Some of the key data highlights and forecasting included:
- There is a significant growth in multi-unit housing starts, expected to accelerate in 2017, which will then lead to higher demand for multi-housing laundry facilities.
- Consumer expectations have decreased, indicating lower confidence in the economy, but still with a willingness to spend.
- Personal consumption expenditures have risen 3.4 percent, which suggests that consumers have money to spend and will continue to support laundry vendors.