The Interior Design 2014 Outlook and State of the Industry, produced by the American Society of Interior Designers (ASID) Research, forecasts 2014 will be one of the strongest years for residential spending since 2009. The data has indicated positive economic growth for the residential interior design sector.
With unemployment rates dropping to pre-January 2008 numbers, housing statistics improving, and consumers and commercial developers spending on renovation, remodeling and new construction, total industry sales have continued to increase and are up 2% for 2013, with an additional 6% increase forecasted for 2014.
“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,” said Randy Fiser, executive vice president and CEO of ASID. “However, as highlighted in the first quarter Interior Design Billings Index (IDBI), the number of interior design firms is on track to grow 4% by the end of 2014. The data shows, between 2012 and 2022, total employment growth in the interior design industry (13%) is expected to outpace ‘all occupations’ (11%).”
Despite these statistics, enrollment in interior design education programs is down and only 15% of design firms plan to expand their staff. This data, coupled with an increase in the popularity of “DIY design,” suggest that the industry needs to communicate its value more effectively, according to ASID.
The Interior Design 2014 Industry Outlook report also examines the state of the design industry, including analysis of demographics, economic influences and macro trends that have the potential to significantly affect the industry. For 2014, these macro trends include urbanization, globalization, technology, a changing environment and the emergence of the millennial consumer.
Other trends addressed in the report include the evolution of collaborative workplaces; higher standards for resilient, sustainable, and environmentally friendly construction; healthy buildings; research or evidence-based design; 3-D modeling and printing; professional certification; and building information modeling (BIM).
“The state of the interior design industry is sound and promising,” said Fiser. “Designers are embracing new opportunities in technology and evidence-based design, and developing new design models for the way people live, work, play and heal in the 21st century.”
According to the study, to keep pace with this changing marketplace, design professionals in all career stages must continue to adapt to shifting industry trends and anticipate evolving consumer priorities.
