(NewsNation) — Even as summer temperatures rise, America’s pool market is cooling down.
New data from national pool equipment distributor Pool Corp shows a 6.5% drop in year-to-date sales compared to 2023 due to “cautious consumer spending on big-ticket items.”
The distributor estimates, with peak selling season nearly done with, new construction could be down 15% to 20% this year.
And pools aren’t the only backyard business in decay: Traeger Grills also reported a total revenue decline of 5.4% alongside a net loss of $4.7 million year-over-year.
It’s the latest data in a multi-year trend suggesting “persistently weak demand for new pool construction” after the pandemic.
COVID-19 kept customers at home and in search of backyard adventure, causing a spike in construction.
“No one in the pool industry has ever seen a phenomenon like the reaction that COVID has caused,” landscape company founder David B. Katz told Lawn and Landscape.
But that trend is now underwater. In 2024, consumers can jet off for vacation or find their fun in public — and they are.
During the Fourth of July weekend, TSA expected a record-setting 70 million travelers to take to the air amid the agency’s busiest travel season in history. Inflation has also eased significantly from its fever pitch in 2022, especially on costs for travel and vacations.
The Associated Press reports that Delta Airlines, American Airlines, Marriott and Hilton will likely be the biggest beneficiaries of consumer demand for travel this summer, with cruises poised to join as well.
Carnival claims its 2024 bookings are the best on record, reaching an all-time high of $83 billion during its fiscal second quarter.