The Pool Industry Outlook for 2024 (A tale of 3 cities)
In North America, the pool industry convention season is winding down, which is giving me a well-needed break from all the travel.
Looking back at the last three shows Naomi and I attended, I’m struck by the curious differences we saw in those three distinctly different regional markets. So I thought I would share those insights with you today.
All three shows were well-attended, and in fact, I think at least two of these shows had a record number of exhibitors, which is a good sign. But speaking with individual business owners in each of these locations told a different story.
TEXAS / SOUTHWEST
(The Southwest Pool and Spa Show, San Antonio, TX)
While the show was bustling, it was still widely recognized that in the major cities, the lead flow for a new pool sales fell off a cliff over a year ago.
Smaller markets and niche communities such as Lake Conroe and Lake Texoma seem less affected.
FLORIDA / SOUTHEAST
The “Everything Under The Sun” Expo, Orlando, FL
These business owners also saw a dramatic fall off in leads, but it did not hit them until the second-half of 2023.
And again, it depended on what city you’re in. The bigger the city, the bigger the drop off in lead flow.
The NORTHEAST
NESPA’s Pool and Spa Show, Atlantic City, NJ
The service companies we spoke with have been around for 30, 40, 50 years or more. They have steady revenue flow, and aren’t looking for new clients. Their biggest challenge continues to be MANPOWER.
New pool sales, by contrast, were very spotty.Some builders are booked into 2025, whilea growing number of builders are getting nervous about 2024.
BOTTOM LINE: While service remains strong, it seems “mainstream new pool sales” are shrinking across the country. The only difference is timing.
We do see exceptions when (1) it’s a small niche market in a unique upscale community, and/or (2) it’s high-end sales to the wealthy elite, who seem unaffected by current economic conditions.
What about you?
Is everything steady for you? Or are you starting to see the squeeze everyone else is seeing as you go into 2024?
If you need ideas or help, we are here for you.
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