Compiled by Jason Cramp
Even though many households enjoy their hot tubs year round, similar to the swimming pool industry, weather and the economy impact their buying habits. That being said, with the weather in most regions across Canada being cool and wet during the first quarter of 2011, it was a slow start for most hot tub retailers. And, although three years removed from the global financial crisis, fears about debt problems in Europe continue to affect other economies. Despite this, the U.S. economy continued to show signs of improvement, while Canada’s performed well in 2011.
“The hot tub market was certainly affected by the cool/wet spring in 2011 but did well and was up as we entered July,” says Chris Robinson, sheet business manager for Lucite International, an acrylic-sheet manufacturer in Cordova, Tenn. “Everything seemed to stop when the debt crisis hit and hot tub sales never recovered to their full potential as consumer confidence was sapped out—our industry tracks this pretty well.”
Read the full article: State of the Industry: Hot Tubs