I often observe that every other retail store shuts down its door now and then, yet Mattress stores remain in business.
While counting the mattress stores around, I’ve realized that there are more mattress stores in my town than Starbucks?
But why is that?
According to IBISWorld, there are around 16,000 mattress stores in the US.
As per the details, total revenue of $14 billion is annually generated through the mattress stores in the United States of America.
Talking about mattress manufacturers, Mattress Firm, is a prominent mattress store in the US, with approximately 3500 outlets.
Hence, a large square of real estate is covered by mattress stores in America. Most of these outlets earn enough profit apart from the rent they have to pay.
How? Let's find it out!
Mattress Stores, the Secrets Behind the Business
A peaceful good night's sleep is the dire need of everyone, and a mattress store fulfils it for you. It is precisely the reason why you happen to find a mattress outlet at every other corner.
High in Demand
I remember we renovated our entire home two years ago regardless of the budget issues.
Although everything worked well, there were a few things we held back because of budget restrictions, of course. Unfortunately, our mattresses were one of them.
I believe it is the same for everyone. When renovating bedrooms, people often skip purchasing new mattresses.
After all, how can you manage to spend $500-1000 on a new mattress when you're living your life paycheck to paycheck?
America survived a massive recession back in 2008, and due to that, people used to cut back on frivolous commodities, including their bedding.
Since the economy has now bounced back to where it was, a number of people are now looking to purchase their long-overdue new mattresses.
Great Profit Margin
You may not know about it, but mattresses have a high profit margin. I have a friend who has recently purchased a franchise of a mattress production house.
I remember him telling me that ‘you don't really need to sell many mattresses in order to earn well, they're high margin items.’
In the grocery stores, profit margins mostly revolve around 5-10%. Meanwhile, a mattress that costs around $1000-1500 has a making cost of $200-250.
Imagine the profit margin it brings along? Isn't it surprising?
Convenient to Try
I know many people that recently ordered their mattresses online. Let’s be clear here, it isn't anything to worry about, items with excellent product reviews are usually reliable.
Still, there are companies like Leesa and Casper that are planning to cut down the middlemen out of their sales.
They are offering mattresses at cheap rates, and their mattress-in-a-box packing has made purchasing and carrying the mattresses easier.
As unusual as it may sound, mattresses are generally complicated to sell online. People prefer trying them out before making a purchase, which you can only do by visiting a mattress store.
Limited Employees Required
Logically speaking, a mattress store doesn't need a huge number of salespeople. Unless there's a flash sale, you won't get to see a crowded mattress outlet.
Fewer foot traffic means you don’t require to keep many salesmen; it is as simple as that.
Apart from the light traffic, a mattress store is not anything like a grocery store. Its stock doesn't change frequently; hence, it is easier to keep it stocked.
No Additional Advertisement
A mattress store is its own advertisement. Thereby, mattress producers don't have to spend much on marketing and publicity, including television ads and billboards.
With all those notable neon letters lit up 24/7 along with their self-explanatory labels, their existence is their advertisement.
Trend of Stealing Customers
If you take a closer look, McDonald's always has a competing restaurant close by.
Ever wonder the reason?
The idea behind having multiple mattress outlets in one region is the same.
As you may know, purchasing a new mattress is quite expensive to begin with; thus, when people are looking to buy a new mattress, they tend to look around to get the best deal.
Mattress outlets' owners and staff are aware of the fact that customers typically visit numerous mattress stores before finally popping out their credit cards.
Eventually, everything comes down to staffing customers and having reasonable price rates.
An Essential Product
Quality sleep is crucial. It is primarily the reason why people put so much thought into buying a new mattress.
People usually ask their family and friends about their beds, read online product reviews, social media ratings, and shop around.
At the end of the day, a mattress is the foundation of a comfortable sleep. Therefore, all the research makes sense.
Apart from your comfort, purchasing a new mattress is a significant investment; hence, I would say that such meticulous planning is indeed fair.
One of the major reasons why mattress outlets survive the retail revelation is because people care about their comfort as well as the product.
Buying a Mattress Online Vs Buying in Store
Having mattress stores in every other area has its benefits, as we know it. Yet, it doesn't make a notable difference if you choose to buy it online.
Purchasing a mattress from a store or online, both have merits as well as demerits.
Let me share some details here, my mother believes in visiting the store and purchasing a mattress after trying it out. She says trying out the item beforehand keeps her satisfied.
On the other hand, the mattress I am currently using was purchased online. To tell you the truth, it's been two years and my mattress is still going strong.
So, from all that I have heard and everything I have learnt from personal experience, here I have prepared a list of pros and cons of buying a mattress in stores vs. online.
A lot of people, including my mother, believe that purchasing a mattress online is more of a risk.
When buying a mattress online, you don't get to try it; hence, the likelihood to be dissatisfied increases.
On the contrary, I am quite happy with the mattress I purchased online two years ago. It has all the qualities that the brand promised on its website.
Overall, I'd say there is a modest risk of being unsatisfied when purchasing a mattress online.
However, if you're too particular about it, it's better to visit a store and try it first.
Likelihood of Being Happy
A lot of people believe that there's a high risk of fraud when purchasing a mattress online, which is unlikely to happen. Yet, people prefer trying it out first before actually buying it.
Nevertheless, I personally think that owner satisfaction is more or less similar in both scenarios, whether you buy it from a store or online.
The life of a mattress depends upon its construction and materials used in the making.
Rendering to the stats, there's minimal to no risk of being unhappy from purchasing a mattress online.
I purchased my mattress two years ago through Amazon, and truth be told, it was the best decision I ever made regarding my bedding.
I have a memory foam mattress, and it provides me with a peaceful sleep every night.
Precisely, it is what I need after a long hectic day at work.
My mattress came with a ten-year warranty, and the return policy is similar to that of a mattress store.
Hence, I can proudly say that I'm happy with my purchase, and it was indeed a wise choice.
Shopping and Delivery
There are a few differences between the shopping and delivery methods of mattress stores and online retailers.
To get a better hang of the situation, skim through the table below:
Though the obsession of trying and purchasing a mattress has evolved over the years.
In this day and age when radical resource productivity is encouraged, and sleep becomes crucial, our mattresses and the time we spend at night has become more and more important.
For a person like me, sleep perfection is a lot more than visiting the mattress stores and shopping around.
I have easily settled for the one that provides me with a comfortable sleep, even though I bought it online.
All you need to do is analyze your sleep requirements and buy a mattress accordingly.
Buying a matter from a mattress store or an online retailer is equally beneficial in terms of customer satisfaction.
Make your comfort a priority!