How High is Up?
New article from Aqua Magazine
Here’s some good news: The hot tub industry has finally regained some of its swagger.
Until recently, things hadn’t been particularly great for the hot tub business, especially during the recession. That’s when the industry averaged a dismal -15.4 percent annual growth. Total spa shipments during that period dropped 58 percent. Not pretty.
The so-called recovery wasn’t any great shakes, either. During the period 2010-2014, the industry managed a less-than-inspiring 1.1 percent average annual growth.
Over the past three years, things have begun to brighten a bit. Spa shipments hit double-digit growth in 2015-2016 and then cooled a bit last year.
Average growth over the past three years has been a rather respectable 9.3 percent, the highest three-year average since the last great pre-recession year of 2004, right before the fall. Before that, you would have to go all the way back to the late 1980s. Not too shabby.
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Author: Bil Kennedy