The mattress market is in flux. While the rise of refurbished mattress suppliers like Cheap Sleep caters to a specific price-sensitive segment, the question for discerning retailers isn’t “Should we sell used?“ but “How do we sell new better and more strategically?”
The “yuck factor” and potential brand dilution associated with used mattresses make it a risky venture for most established retailers. The smart play? Double down on the value of new mattresses, taking a page from successful electronics retailers.
Consumers often gravitate toward refurbished mattresses because of price. However, a new mattress offers superior quality, warranty protection and the undeniable appeal of a fresh, clean product. The challenge lies in bridging the price gap and demonstrating the long-term value proposition of investing in quality sleep.
Here’s how retailers can dominate the mattress market without venturing into used territory:
- Loss leader strategy: Borrowing from electronics retailers, strategically offer a select number of new mattresses at lower price points. These “loss leaders” aren’t designed for high profit margins on their own, but they serve to attract customers into the store (or onto your website). The goal is to then upsell them to higher-margin models once they experience the comfort and features of a new mattress. This directly combats the lure of refurbished options by providing an attractive entry point into the new mattress market.
- Creative advertising: Ditch the generic ads. Craft compelling campaigns that focus on the benefits of a new mattress: better sleep, improved health and enhanced well-being. Highlight your loss leader models prominently, showcasing their exceptional value. Tell stories that resonate emotionally and emphasize the long-term return on investment.
- Elevated sales presentations: Train your sales team to be sleep experts, not just order takers. Equip them to articulate the differences between mattress types, explain the science of sleep and address customer concerns about price. Use the loss-leader models as a starting point, then guide customers toward higher-end options by demonstrating the tangible benefits (e.g., better support, longer lifespan, enhanced cooling features).
- Strategic financing: Long-term 0% financing remains a crucial tool. It makes new mattresses, including your loss leaders and midrange models, accessible to budget-conscious shoppers by breaking down the price into manageable monthly payments. Promote these financing options prominently, especially in conjunction with your loss-leader strategy.
- Become a sleep authority: Position your store as a trusted resource for all things sleep. Offer sleep tips, host workshops and create online content about sleep hygiene. This builds credibility and adds value beyond just selling mattresses.
- Highlight quality and certifications: Emphasize any certifications or quality standards your mattresses meet. This builds trust and reinforces the value of buying new. Showcase the craftsmanship and materials that go into your mattresses, especially your premium models.
The refurbished mattress market exists, but it shouldn’t be the focus for retailers aiming for long-term success. By strategically utilizing a loss-leader model, combined with compelling advertising, expert salesmanship and flexible financing, you can effectively compete on price and deliver the superior value of a new mattress. This approach will attract customers, drive sales and solidify your brand as the go-to destination for quality sleep solutions.
