What’s happening: What started out as a trend two years ago with consumers quarantined in their homes and flush with government stimulus money buying better quality sleep products is not short-lived, but rather a permanent change to the way we do business, according to independent bedding manufacturer Gold Bond’s CEO Robert Naboicheck.
Why it matters: “The pandemic shined a bright light on consumer health and the importance of sleep in that equation,” he says. “Add to that a greater appreciation for their homes — since they spent more time there, and you see more than a trend for better goods — but rather a permanent change in consumer behavior. We first saw a blimp in spending on luxury sleep products. In a normal cycle, we would have seen the curve even out over time. But two years later we are still seeing the flight to quality. That is not a trend, but a permanent change.”
An example of the change in consumer preference is the brand’s increased sales in its Buckingham and Venice collections – some of the company’s more premium products. The collections utilize a deep-quilted top panel made with polyester and cottons fibers, as well as super-soft foam that aids in a luxurious feel and breathability, two inches of super-soft foam that deepens surface comfort and is double-sided to lengthen the lifespan of the mattress. Pricing ranges up to $2,499 in queen.
“Consumers are shopping differently and are not satisfied with less than high quality products that are important for maintaining self-care. Even though we are going through inflationary times, we are still seeing consumers – especially the younger consumers – willing to spend the extra money on a luxury mattress that guarantees a restful night’s sleep,” he adds