From Home Furnishing Business
What Sells: Sweet DREAMS
2023 by HFBusiness Staff in Business Strategy, Industry
Scientists agree that a good night’s sleep is vital to nearly every aspect of health—and a good mattress is essential to achieving quality rest. Consumers appear to be getting the message as mattress sales continue to track upward. “With recovery through sleep and overall wellness becoming the top priority since the pandemic, health benefits are an impactful part of the sales conversation,” says Gerry Borreggine, president and CEO of Therapedic International. Awareness of the homeopathic benefits of copper (a key component in Therapedic’s Immunity collection)—and how its antibacterial benefits translate to reduced inflammation, pressure relief and better sleep—is growing with consumers, dealers and RSAs, says Borreggine.
Health and wellness are taking priority in consumer spending and mattress makers are seeing their share of the sales. “Today’s consumers are looking for better goods because they understand how quality sleep benefits their life,” explains Mark Kinsley, president and CEO of Englander. The link between health and home has never been stronger and is generating increased consumer interest in the origins of mattress components. “With the heightened awareness of sleep and its link to physical and mental wellness, the appeal of natural and organic products in our homes now includes the mattress which we spend one-third of our lives on … and more people are willing to pay more for materials that are better for their health and offer luxury sleep comfort,” says Trina Solomon, director of marketing for Diamond Mattress.
Mattress sales continue to climb according to industry research. Estimates from the FurnitureCore model developed by Impact Consulting Services, parent company to Home Furnishings Business magazine—shows the bedding category grew year over year from $18.48 billion in 2020 to $22.56 billion 2021. This shows the bedding category as stable with approximately 12.9 percent of total furniture industry sales in both 2020 and 2021. Third quarter mattress sales in 2022 finished at $17.37 billion, a respectable 3.9 percent increase over the previous quarter’s sales. Growth measured year over year in Q3 was smaller, with a 0.7 percent increase compared to sales in the same period of 2021 ($17.26 billion).
While post-pandemic home furnishings sales have softened, the demand for wellness and health-related products continues to grow. Addressing these consumer priorities appears to be a key strategy for mattress makers working to retain their share of consumer spending.