What’s selling in the bedding category these days? Plenty of things, including high-end mattresses, high-end pillows and adjustable bed base packages.
Bedding exhibitors at the recent High Point Market said they are writing some notable success stories with better goods. The challenging economic climate may be hurting sales in the middle of the market, they said, but high-end models remain strong sellers.
Exhibitors described a bifurcated market, with retail activity centered on the low and high ends of the market.
“What’s selling is at the high end and at entry-level price points,” said Gerry Borreggine, CEO of Therapedic Worldwide. “The area being squeezed is the middle of the market. That’s the market that is in distress and that is being pinched the hardest.”
He said Therapedic’s higher-end lines, including new Alternativ, Tommy Bahama and Lloyd & Penfield models, are doing well in the marketplace. Alternativ tops out at $3,999, while Tommy Bahama and Lloyd & Penfield top out at $4,999.
Molecule, which had a successful debut at the High Point Market, is doing well with its upper-end lines, said Mike Juoni, vice president of sales for the digitally native brand.
He said foam and hybrid models retailing from $2,499 to $3,299 “are gaining the most traction right now.”
Heritage Sleep is doing well with its all-foam Celsius line retailing from $1,999 to $2,999 that targets leading brands and offers strong values and margins, said Jordan Beck, president.
“Consumers are still willing to invest when they can feel and understand the difference in the products, and retailers are responding well to a product that gives them something meaningful to sell outside of the usual major brands,” he said.
Diamond Mattress is seeing good results with its high-end Technogel line, retailing from $2,399 to $4,999 in queen, and its Black Diamond line, retailing from $1,999 to $3,499, said Jack Gomez, regional sales director.
“Consumers with money are still buying,” he said. “Consumers in the middle of the market are moving to lower-end goods, and lower-end consumers are postponing their purchases, saying that they can wait a bit longer to buy a new mattress.”
At South Bay International, the AllureLuxe and Sofinity lines at the higher end of the company’s product offerings are strong performers, said Toby Konetzny, CEO. AllureLuxe is an all-hybrid line that tops out at $1,699 in queen, while Sofinity, with hybrid and all-foam models, tops out at $1,799 in queen.
“The luxury bedding category is doing well,” Konetzny said.
Shifman, which focuses on better goods, is doing well these days across its product lines.
“Everything is selling,” said Bill Hammer, president. “We don’t have low-end products. We only produce medium and high-end products, with our starting retail at $1,999. I don’t think our mix has changed lately. Our volume has been consistent.”
Mark Quinn, Shifman’s senior vice president of sales and marketing, said the high-end category is outperforming the rest of the market these days because affluent consumers are less impacted by economic challenges than consumers shopping at lower price points.
At Bedgear, high-end pillows, retailing from $200 to $300, are star performers, said Jonah Nelson, senior director of marketing and creative.
“Our high-end pillows are stronger than ever,” Nelson said. “Retailers recognize the value they can bring to their business, both financially and in terms of consumer comfort.”
Nelson said that bifurcation in the market “is not a new trend,” but noted that it does present an opportunity. “The opportunity in the middle of the market is to drive innovation,” he said.
Restonic is enjoying success with high-end lines, including tufted beds starting at $4,000 and the Signature line, starting at $2,999, said Laurie Tokarz, president. “The affluent consumer is still spending,” she said.
At Symphony Sleep, the ES700 SonicSleep adjustable base is a standout performer, said John Schulte, president. Retailing at $1,999, it uses sound wave technology to produce an audio sonic massage experience and is compatible with the company’s full line of adjustable base accessories.
“Consumers know about adjustable bed bases but they are unaware of the accessories that can be installed on them,” Schulte said. “There is a ‘wow’ factor with the ES700.”
Paramount Sleep said its high-end lines, including Hypnos, which retails from $3,000 to $15,000, and Paramount, which retails from $2,000 to $5,000, continue to gain traction, even in a challenging business climate.
“There is a market for consumers who have money and who will buy what works for them,” said Richard Diamonstein, managing director. He said Paramount is projecting a growth year for the company.
Also enjoying success with high-end offerings is Mlily USA. Derek Leishman, national sales director, said the Midnight Ice mattress, a hybrid model retailing at $3,499 with a cooling sleep story, is a top seller.
“Retailer shoppers in the market at the $3,499 retail level are not as affected by economic issues as shoppers are at the promotional or entry levels,” Leishman observed.
The story is similar at AW Industries, which is finding strong interest in its new high-end Wessex model, part of the Highclere Collection, retailing at $3,999.
“The majority of retailers said I’m pricing that too low,” said Adrian Wertz, vice president of sales, who said retailers see it doing well at $4,299 to $4,599. “This will knock other luxury beds off the floor,” he said. “Nobody else has the richness and luxury of the Highclere Castle story.”
Historic Highclere Castle, the ancestral home of the Carnarvon family, is the estate featured in the Downton Abbey TV series and movies.
