Although the Fourth of July is a key summer sales holiday, it’s not usually as big as Memorial Day or Labor Day. And while that dynamic seemed to apply to sales this year as well, some retailers had exceptional sales.
With 26 stores across the Northwest, Mattress World Northwest saw an increase of 40% for the first week year-over-year. For Friday-Sunday, the company was up 33% YOY, according to Ryan Bailey, vice president of sales and operations.
Bailey partially attributes the success of the holiday this year to the sale of big-ticket sleep systems, which drove average ticket prices to the $2,000-$10,000 range.
“We’re not seeing as many $499 or $999 customers; we’re seeing luxury grow overall,” Bailey says. “One customer bought an $18,000 sleep system. Five years ago, that would have been unheard of. And with four days of high-end sleep systems, that really moves the needle.
“I don’t think we saw an increase in traffic,” he continues. “We are doing a better job of capturing the customer and working them up to a better product, which ultimately is going to be better for them in the long run because they are going to sleep better and won’t have to replace it as soon.”
He also says he noticed that brands continue to be an important part of driving customers into the store. From Beautyrest Black to Avocado, Purple, Tempur-Pedic and more, Bailey says they have an impact on foot traffic and what customers buy because nearly all consumers research online before coming into a store.
“Some people have sold themselves on a brand or an idea of what they want, and the consumer is more educated,” he adds.
He explains that there’s trepidation with the market fluctuations, but he thinks the rates are going to come down and expects the last six months of the year to be fairly successful.
Jacksonville Bedding, Mattress and More also had a strong Fourth of July holiday, with 131% year-over-year growth. The company’s average ticket was nearly $4,000, according to co-owner Vernon Williams, and he says more customers are saying yes to better sleep.
“The showroom stayed busy, with a clear shift in buyer mindset as they focused on quality and showed less resistance to price. Our increase in financing volume over the same period last year was seven times. We also noticed a significant uptick in interest in Tempur-Pedic & Avocado — premium brands that are driving foot traffic and conversion.”
However, different parts of the country had different results.
Kevin Fear, CEO of 10-store Mattress Express in New York, says that his store’s July Fourth sales were flat year over year, with some areas excelling while others struggled. He adds that June was particularly slow, with a 5% decrease in same-store sales.
“We think that’s because of various events like weddings, proms and graduations. I’ve also noticed that middle-income customers are tightening their budgets. Upper-income customers are still buying, but middle-class customers are holding back and waiting to see what happens with the economy, interest rates and inflation.”
Kelly Charles, co-owner of five-store retailer Big Mattress Outlet, says sales were a little softer than Memorial Day and that she expected this. While the Fourth of July has not traditionally been a big holiday for her stores, she says it turned out to be OK.
“The holiday itself was weird — the stores were like an absolute ghost town,” she says. “But then the weekend was great. We’ve noticed a trend in the last couple of years that the week before the holiday seems good because a lot of our promos are starting so early these days. I think we’re retraining the customer that they can shop two weeks before the holiday and then still go on vacation for the holiday itself, so it feels like we’re getting our bump earlier.”
With two out of the three major bedding sales holidays under wraps, there is hope, optimism and excitement around Labor Day.
