The Interior Design 2014 Outlook and State of the Industry, produced by the American Society of Interior Designers (ASID) Research, has forecasted that 2014 will be one of the strongest years for residential spending since 2009.
Unemployment rates are reaching pre-January 2008 numbers, housing starts continue to improve, and consumers and commercial developers are again spending on renovation, remodeling, and new construction. With this improved growth in the remodeling market, total industry sales have continued to grow with a six percent increase forecasted for 2014.
Randy Fiser, vice president and CEO of ASID, spoke on these findings at NeoCon. “The effects of the recession hit the interior design industry in late 2008 with the number of practicing designers and interior design firms declining to pre-housing boom levels,” Fiser said. “As demonstrated in the March Interior Design Billings Index (IDBI), the real number of interior design firms is on track to grow four perfect by the end of 2014 and total employment growth in the industry is expected to outpace all occupation by 11 percent through 2022.”
Interior designers will be high in demand to keep up with certain projected trends, such as the integration of digital technology into hotels. Office spaces are also installing integration and touchdown spaces to facilitate communication, innovation, and knowledge sharing. Healthcare facilities are working to better accommodate families and have better and safer working conditions for their staff.
At least 80 percent of ASID interior designers also say that the following might increase as top trends during this next year: integrating technology with interior design; using social media to advertise and engage clients; and blending workplace and residential spaces. Sourcing products from overseas and increasing the size of single-family homes are expected to decrease.