OK, the recent High Point Market wasn’t quite as dramatic as Homer’s “The Odyssey,” which chronicles the travails of Odysseus and his men as they struggle to return home. There was no Cyclops wreaking havoc, although I did hear about one nasty retailer who was throwing his weight around in a most disagreeable manner. And there were no Sirens, although there were a number of bands on the scene, entertaining marketgoers.
But, like Odysseus, I was engaged in an epic quest. Mine was to successfully navigate the Maze of Mattresses in the sprawling 11.5 million square feet of market showrooms, searching for new and notable offerings and insights.
In a week-long journey, one that began in summer heat, welcomed pleasant autumn breezes, and then, cruelly, saw the unwelcome arrival of chilling winter winds, I discovered new mattress powerhouses, exciting new lines, and important observations about the state of business today.
Unlike the World Market Center in Las Vegas, where all the mattress showrooms are accessible under common roofs by entering Buildings A, B, or C, the mattress scene in High Point is spread out. That’s because the market’s original building, the Southern Furniture Exposition Building, opened in 1921 and has seen the market grow around it.
That original building is now part of the International Home Furnishings Center, which contains about 3.5 million square feet of showroom space, and the towering IHFC complex at the heart of the market is now surrounded by about 180 buildings spanning 13 city blocks.
This means that market guests must enter many different doors and buildings to access the full range of High Point market buildings. And most of the High Point buildings are not connected. In other words, it takes a while to get the lay of the land in High Point. I call it High Point’s market initiation.
Mattress and sleep accessories exhibitors in High Point are spread out in more than a dozen different buildings across the market district, and my travels earlier this month took me into many of those buildings. Once I completed the ultimate market challenge: I entered Furniture Plaza on Main Street and passed along various walkways and through skywalks that eventually took me to Market Square two long blocks away. It would have taken Odysseus at least a year to figure that route out on his own.
Here are some of the interesting things I saw in my mattress journeys.
Powerhouses debut
The mattress market in High Point continues to grow, and this market saw the arrival of two potent producers. The new bedding powerhouses on the scene were DeRucci North America and SilentNight, both of whom feature compelling stories.
DeRucci is a major player in the China market, where it says it enjoys a 45% share of China’s premium mattress market. DeRucci North America, headed by home furnishings veteran Guy Ray, CEO, is targeting the U.S. bedding market for growth with a line of fancy AI-powered beds retailing from $5,000 to $9,000 in king.
I enjoyed a test rest on the top bed, the T12, which monitored my heart rate (a relaxed 62) and respiration as it gave me a nice back massage. Odysseus would have had a much more enjoyable adventure if he had one of these beds.
SweetNight is a major global brand and a mattress supplier to leading e-commerce platforms, including Amazon. It made its inaugural High Point showing with a line designed for brick-and-mortar retailers, at price points ranging from $299 to $999. Yonah Lowenstein, head of U.S. sales, says retailers who carry the new lines don’t have to worry that their customers will find less expensive models of those beds online.
SweetNight will be using its online audience to drive traffic to brick-and-mortar stores, Lowenstein says.
A brisk market
In the headline of this account mention was made of a “brisk journey.” I do want to make clear that I’m referring to the weather at market and not to actual order-writing in mattress showrooms.
On the Wednesday and Thursday before the official start of market the high temperature was a balmy 88 degrees. On Friday it was 83. And then winter made a surprise appearance. Temperatures plunged almost 40 degrees overnight. By Saturday morning, under leaden skies, blustery winds whistled through the concrete, glass and steel canyons in downtown High Point.
Overall I found traffic on the light side in mattress showrooms, but my conversations were sparkling. Market is what you make of it, and I learned a long time ago to use markets to dig into key industry dynamics and not to simply count retailers. Every market is a chance to get smarter about what is happening in Mattressville.
Fashion updates
I got a good response to my Male Fashion Update, which ran in one of our market dailies and featured the generally casual vibes of Mattress Men in High Point.
In the Molecule showroom, Laura Brewick was rocking Sneex, snazzy high-heel sneakers. She recommends them, but offers a cautionary note: You can’t wear them through the security screenings at airports. “I found that out the hard way,” she said.
Another Molecule executive, Mike Juoni, was wearing one of the performance hoodies that the Molecule team members wore as the company sponsored the Shakeout Run & Recovery Lounge on the weekend of the recent Chicago Marathon. That comfortable athletic wear is representative of the rest and recovery qualities that Molecule mattresses provide, Juoni said. And the hoodie also eased the chill in the showroom, he added.
Words of wisdom
As I made my market rounds on that cool Saturday, I shared my twist on a famous saying attributed to Mark Twain: “The coldest winter I ever spent was a summer in San Francisco.” My version was: “The coldest winter I ever spent was autumn in High Point.”
The next morning I caught the pleasing aroma of wood smoke, and found a comforting fire burning in a fire pit outside the Golden Oldies Antiques showroom building. I cozied up to the fire, enjoying its warmth.
I found more literary wisdom in the Paramount showroom when I sat down with Richard Diamonstein, managing director. He shared a famous quote attributed to Winston Churchill: “Success is not final, failure is not fatal; it is the courage to continue that counts.”
“That quote still speaks to me,” Diamonstein said. “The important thing is you need to persevere.” That’s particularly true in the challenging business climate that continues to confront the mattress industry, he added.
Paramount once again hosted a market party, with a Mexican food truck parked outside its Wrenn Street showroom. That’s one of the only mattress parties on the High Point calendar. It’s one of my favorite stops at market.
I left the party and walked a few blocks to the Transportation Terminal, where I arrived just in time to see a memorable sunset, with fiery flames of orange glowing in the clouds. That was a nice way to wrap up the day.
Talking business
There was lots of talk in mattress showrooms about the various factors that have combined to bedevil the mattress industry.
Bill Hammer, Shifman’s president, said high fuel costs are a major problem. “Fuel costs affect everything,” he said. “They affect the costs of deliveries and of ocean containers with raw materials. Higher shipping costs fuel inflation. And inflation drives up interest rates and slows the housing market. Consumers are not taking 7% mortgages.”
It’s enough to make Shifman want to return to the past, which it does with a clever “Shifman Time Machine” design on the elevator in its market building. The time machine is set for 1893, the year that brothers Abraham and Samuel Shifman established Shifman in Newark, New Jersey, where the company is still based. Shifman also has an 1893 Collection that celebrates its history and its traditional craftsmanship.
By the way, 1893 is famous for more than just the founding of Shifman. That was also the year that Cracker Jack, the popcorn and peanut snack, was invented. The Ferris Wheel also made its debut that year, as did Aunt Jemima’s Pancake Flour, and the first commercial dishwasher. That was a banner year for the country.
A brand bonanza
Toby Konetzny, South Bay’s CEO, says those brands give retailers plenty of options as they seek to grow their business.
As he was showing me those brands, he singled out a particular model that caught my eye. It was the top number in the American Bedding line, retailing at $999, and it happened to be called “Perry.”
I immediately lay down on the Perry. I am happy to report that it feels great.
South Bay International added to the mattress buzz in High Point by introducing four brands under its Corsicana banner. Those four are American Bedding, Englander, Tommie Copper, and Winkbeds. They join South’s Bay’s EcoCore, ActiveAlign, AllureLuxe, and Sofinity brands.
Disclaimer: The Perry mattress may or may not be named after me. I have no association with this mattress and receive no royalties from its sale, but I do admit that I am rather fond of the name.
The journey ends
While it took Odysseus 10 long, tough years to make it back home, I wrapped up my High Point odyssey in seven days. My final day was Tuesday, October 20, when I searched for mattress executives still on the scene.
Toby Konetzny seemed surprised to see me when I stopped by the South Bay showroom. And I was surprised to see him this late in the market. He said he had been at market since the previous Tuesday, and he modestly nominated himself as the hardest-working mattress CEO at market. I immediately seconded that motion. Congratulations, Toby, on your impressive market streak.
And that’s how my High Point Market adventure came to a safe and satisfying conclusion.
