The mattress industry has suddenly woken up
By Thomas Lee
The sleep business is suddenly going to the mattresses.
The phrase, made popular by the mobster characters in the “Godfather” films and “The Sopranos” on television, roughly means going to war. And it aptly describes the newfound intensity of an industry that makes its money by provoking somnolence.
During the past few years, upstart e-commerce firms led by Casper, Leesa Sleep and Tuft & Needle have injected new vitality into mattress sales. These companies now pose a serious challenge to established speciality stores like Mattress Firm and Sleep Number, not to mention major retail chains like Sears, Macy’s and Costco.
The once-sleepy category is enjoying both a business and cultural renaissance. From 2011 to 2016, mattress sales from physical stores grew an average of 6.1 percent per year to $14 billion, according to IBISWorld. The research group predicts that sales will grow 3.2 percent a year until 2021.
“Mattresses are now a cool thing to talk about,” said Jason Bennett, CEO of True Star Consulting in San Francisco and a former senior director of marketing for Gap Inc.’s Banana Republic brand. “You would never have thought that in years past.”
And the Bay Area has played a key part in the resurgence: Zinus, whose U.S…
