Why Select Comfort & Tempur Sealy Are Having Nightmares in the High-End Mattress Market, as Saatva Is Poised to Take Advantage
Saatva offers mattress shopping in new luxury style
Buying a mattress the traditional way is a nightmare, Saatva has a solution
Remember the last time you bought a mattress? No doubt you walked around a showroom, lying on mattress after mattress while a salesperson watched and extolled the virtues of a mattress that you could not possibly verify without spending a night sleeping on it. You probably purchased one at a deep discount and hoped for the best, vowing to avoid that shopping trip again as long as possible.
While the premium and luxury brands fight among themselves to grab market share, there is a new company, Saatva, poised to capture business from both the high-end and middle-market mattress brands. Saatva is following an aggressive strategy to disrupt the traditional mattress market by offering a single ‘ultra-premium luxury’ mattress available in three basic flavors (soft, medium, firm) and sold direct-to-consumer online.
This simplifies the shopping experience and by not having the added cost of a retail middleman, it offers buyers all the quality features of the luxury name-brand mattresses for 70 percent less, so prices for a king sized is a flat $1,599 and a queen is $1,149. Saatva takes much of the pain out of shopping for a new mattress. It is mattress shopping in new luxury style.
Mattress shopping simplified is the big names’ biggest fear
While shopping for a luxury mattress at retail has become a nightmare, Saatva simplifies access to ultra-premium luxury mattress comfort at a great price. Saatva is taking advantage of the fact that premium and luxury mattress brands are losing their ‘luxe.’
Affluent consumers resent the whole mattress shopping experience. It is just too painful. Plus, they aren’t about to pay full-list price for a Select Comfort, Tempur-pedic, Stearns & Foster or other premium mattress, when they can find the same brands or perfectly acceptable substitutes at discounted prices.
Affluent consumers are starting to turn away from the big names in droves. In the most recent Unity Marketing Affluent Consumer Tracking Study survey, just over a quarter of those who purchased a mattress bought Tempur-Pedic. The other leading premium brands, specifically Sealy, Serta, and Sleep Number, each attracted less of the luxury mattress consumers’ patronage. Clearly, there is an opportunity for an upstart brand like Saatva.
What I most admire about Saatva, and what the established brands can learn from their example, is how Saatva has taken out all the confusion from shopping for a bed. For customers the time savings and convenience of buying from Saatva, as compared to trying to figure out what mattress you want in a crowded retail store, is the ultimate luxury.
Better understanding, not more options, is key to mattress marketing success
Unity Marketing can be your business partner in understanding your best prospective customer and turning that understanding into successful marketing and branding strategies. High-end mattress brands need to wake up to the problems customers face when buying a mattress and learn from the winning strategies that brands like Saatva and others are using before it is too late.
Mattress brands can’t keep doing the same things they always have done and expect things to change. More models, more brands, new pricing schemes and more stores aren’t going to make the difference. Brands need to start by understanding the customer and work from there to create a luxury brand that is relevant and fills a gap in the marketplace, like Saatva has done. But with a market size nearing $5 billion, there still are a lot of sleep-deprived affluents out there looking for a sleep solution.
Unity Marketing offers a variety of market research and consulting services that will help marketing brands develop luxury-targeted strategies that will build a loyal and lasting relationship with the affluent customers.
- Get started: Unity Marketing’s vast library of syndicated market research studies provide a low-cost way for marketers to gain reliable data and customer insights about specific consumer markets. Reports like Luxury Mattresses & Sleep Systems Snapshot Report which reveals consumer purchase behavior, spending and brand preferences of recent mattress buyers. And with Unity Marketing’s focus on the affluent consumer segment, you will be assured insights that apply to the best customer prospects for your category whether you are selling to the masses or the ‘classes.’
- Get a firm foundation: Consumer insights aren’t a “once and done” effort; it takes on-going programs to track and monitor brand connections with the target customer as he or she changes buying behavior or brand preferences. Unity Marketing offers the Affluent Consumer Tracking Study which gives marketers at the high-end of the market data about their customers buying behavior and consumer confidence and attitudes twice a year. We also offer marketers a ‘lite’ subscription to the mattress category, if they need to track only this one product segment.
- Intensify and focus: With experience in both collecting and using market research information and insights, Unity Marketing can help you not just in gathering consumer insights, but uncovering the nuggets that will yield the best return to marketers in strategies and tactics. Call or email for a confidential discussion of where the gaps are in your customer understanding and how Unity Marketing can bridge the gaps.
Call Pam @ 717-336-1600 or email firstname.lastname@example.org if you’d like to learn how to put the powerful consumer insights to work for your premium or luxury brand.