Report Shows Self-Service Laundry Industry Growing

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.

Read the full summary of the report on Planet Laundry.