Mattress sales set to spike
By: Phil Sneed
A mattress is a serious investment for many Americans, and it's one spending category where splurging is appropriate. People spend a portion of every day in bed, so it's worth making that time comfortable and promotes health. While rough economic conditions in the wake of the financial crisis that hit near the end of the last decade stifled mattress sales in the U.S., the newly resurgent economy signals strong market performance for mattresses in the future.
Mattresses may simply be a piece of furniture, but they can have a significant impact on people's lives. With the economy looking up, people may choose to invest in themselves by purchasing a new place to sleep.
Sales trending up
The U.S. economy has recovered slowly from the Great Recession, but consumers are finally ready to start purchasing goods again. In the May Consumer Confidence Index from The Conference Board, economic sentiment improved from April, and consumer sentiment regarding the present economic condition crept upward. This coincided with increased expectations for job growth in the months to come. When consumers feel good, they tend to increase spending, and it seems likely that many people will direct that spending toward a new mattress.
"Consumer confidence is up, and people may be willing to spend."
In a forecast released at the end of last year, the International Sleep Products Association predicted that mattress shipments would increase 2 percent in 2015, while the dollar value of shipments would rise 4.5 percent. The larger increase in dollar value of shipments reflects a range of industry trends that have people spending more on the mattresses they use daily.
Where the industry is headed
Growth in the mattress industry will depend on improvements throughout the market. In a discussion with industry leaders published in BedTimes, a trade journal, executives expressed concern that recent mattress sales were centered around the high end of the market. While recovery in expensive mattresses is good for businesses, and reflects a greater awareness of the value a good mattress can provide, more generalized recovery throughout the entire sector is needed to fuel even more growth.
One source of this change could be Internet services that sell mattresses to consumers directly. While it would have been inconceivable to buy a mattress without sleeping on it in the past, multiple companies now offer discounted mattress models on the Web. The mattress industry is healthy and likely to become stronger in the next few years. As that shift occurs, mattress makers should partner with strong transportation sourcing organizations that can help cut shipping costs.