The economy may be keeping a lid on spending, but when it comes to flooring, it's driving trends. That's because today’s cost-conscious consumer is more demanding of value than ever.

"There’s definitely been a shift from spending to savings," says Chris Davis, the president and CEO of the World Floor Covering Association. "But that doesn’t mean consumers aren’t buying flooring: it means they're looking for value and comfort. They might not be moving up right now, but they’re still into feathering the nest."

Flooring manufacturers are getting the message. As a result, they're keen on providing more bang for the buck — reining in high-end marketing and concentrating on products that are sensible, low-maintenance and easy on the budget.

That means bringing more innovation and variety to the perennial low-cost champs: resilient vinyl and carpeting.

Vinyl That Doesn't Look Like Vinyl

Choices for resilient vinyl flooring include a spectrum of styles, colors, textures and patterns. Add in vinyl's easy-to-clean characteristics, comfort under foot and family-friendly stain-resistance, and the result is increasing popularity with value-hungry shoppers.

The demand continues for the "luxury vinyl" segment — top-quality resilient flooring with lookalike qualities that are increasingly difficult to distinguish from stone, wood plank and ceramic tile. As shown above, what looks like a wood floor, is acutally vinyl. At $4 to $5 per square foot, luxury vinyl products sit at the middle of the flooring price range. Nevertheless, the ability of these products to mimic traditional high-end materials, such as tumbled marble and exotic hardwoods, puts extraordinary good looks at the feet of ordinary homeowners at a fraction of the cost.

Carpet Leads the Way

Carpet remains the market-share leader, accounting for more than 60 percent of retail flooring sales. Manufacturers’ response to the stagnant home market has been to provide more fashion-oriented options at all prices.

"The variety of carpets these days is nothing short of amazing," says Davis. “Pattern, design, colors, interesting cuts, the whole feel of the material. There’re more wow-factor choices than ever."