A deep dive by retail sales associates hosted by Paramount Sleep found shaky consumer confidence, complaints about mattresses purchased online, a growing consumer reliance on mattress reviews, and increasing sales of adjustable bed bases.
Those were some of the key points that emerged the other day when Paramount hosted dozens of its retailers at an open house at its headquarters in Norfolk, Virginia. There, leading retail sales associates participated in a comprehensive panel discussion that illuminated key challenges – and opportunities – in the mattress marketplace.
Paramount executives, who followed the roundtable discussion closely, said it gave them valuable feedback.
“The feedback we get from our customers strengthens our retail partnerships and enables us to drive business,” said Richard Fleck, Paramount’s president. “And it helps us identify what we need to do better to be a better partner.”
Looking at the key issue of consumer confidence, the RSAs noted that buying confidence is low, the housing market is “frozen,” and that consumers are trading down in price. “Consumers are concerned about the economy,” one RSA noted.
Asked about the most common consumer complaints from mattress shoppers, one RSA said that consumers are increasingly complaining that they bought a bed online that didn’t live up to their needs. Some of those foam beds are lasting just a few years, the RSA said. Another RSA said that some consumers say they aren’t getting their money’s worth from their mattress purchases.
On the subject of mattress reviews, the retail sales associates said they are a key factor these days. “Reviews help build brand reputation and are a way to build trust with consumers before they even buy,” one sales associate said. Another added: “Reviews are one of the main reasons why Amazon is winning” in the mattress arena. A third sales associate said: “Reputation is built in ‘drops’ but can be lost in ‘buckets.’”
How can retailers get consumers to leave them positive reviews? “It starts with delivering a great experience,” one sales associate noted. “Catch them as soon as you write the sale, when they are high on the sales experience,” a second sales associate said. Added a third: “Say to the customer: ‘If there’s any reason you can’t leave a five-star review, please let me make it right now.’”
The sales associates said that events like the Paramount open house, a regular fixture on Paramount’s calendar, help them build their industry knowledge, which in turn gives them more confidence. “Consumers will feel more confident in their purchase when the RSA has more confidence in their knowledge,” one sales associate remarked.
On the subject of adjustable bed bases, the sales associates said they continue on the ascent. “They are more popular than ever and are gaining popularity,” one associate said. “Everyone wants something that moves,” a second added. A third posed this question: “Why would a consumer pay $100 less for a solid base when they can get one that moves?” A fourth said simply: “Motion matters.”
The sales associates said they are selling adjustable bases by presenting them as wellness products, showing how they help consumers personalize their sleep, and demonstrating the “zero gravity” position that reduces pressure on the body.
Several sales associates described their top retail competitor as being online. “The internet is our No. 1 competitor,” one associate said. “Amazon is our No. 1 competitor for cheap mattresses, but not for luxury mattresses,” a second associate said. “Retailers are not seeing the Amazon customers because they aren’t coming in our stores,” a third associate commented. “Those Amazon customers are just buying online.”
On the topic of sustainability, the sales associates said that as many as four in ten consumers are looking for natural and sustainable mattress materials overall, with interest increasing when consumers are shopping for more expensive mattresses. “There are some that have that focus, but with most shoppers that is a secondary concern,” one sales associate said. “Consumers do want sustainable materials,” another associate said, “but they don’t want to pay extra for them.”
The retail sales associates addressed more than a dozen industry topics during the roundtable discussion.
Fleck said the discussion provided important insights from retail sales floors.
“The high level of engagement from RSAs in this roundtable underscored for us the tremendous value of the role and connection they have with the consumer,” he said.
