San Diego Everyone needs a mattress — and a recent report, along with announced expansion plans for one local company, are helping to prove it.
“In general, bed and mattress stores are increasing pretty consistently,” said Meghan Guattery, an analyst with IBISWorld.
The bed and mattress industry has become a $15 billion industry with a growth of 5.6 percent from 2012 to 2017, according to the latest report by IBISWorld.
The report states that the bed and mattress stores industry has expanded strongly over the five years. “Mattresses are ubiquitous products with very few widespread alternatives, which supports relatively consistent growth.”
Speaking of growth, San Diego-based Jerome’s Furniture, which entered the mattress industry decades ago, said in March it would be growing its footprint with the expansion of its standalone mattress stores, Jerome’s Dream Shop, over the next several months.
Expanding on What Works
Brian Woods, CEO of Jerome’s Furniture, said the company does more volume and sales with mattresses than any other category in its furniture stores — in all of their 13 full line stores, mattresses are the largest category in every single store — accounting for about 25 percent of the company’s total sales.
“We’ve experienced year-over-year growth in mattresses of 20 percent for three years in a row,” he said.
That was the push that led the company, which employs approximately 900 people throughout the Southern California region, to open its first store outside the San Diego region in March, with its newest location in Temecula.
Mattress Store Model
In comparison to furniture stores that might retail mattresses as well, Guattery explained that these standalone mattress stores, such as the way Jerome’s is opening its standalone stores, give store operators more floor space to retail mattresses specifically.
“Since mattresses are a product that consumers want to see and lay down on and test out, it doesn’t make too much sense for a furniture store to use so much space specifically for mattresses, than opening these stores that are specifically dedicated to mattresses. It allows these operators to have an entire building where the floor space is all dedicated to mattresses,” Guattery said.
Woods said the average size of the new Dream Shops range from 3,000 to 3,500 square feet.
According to the IBISWorld report, consumers under the age of 35 make up about 35 percent of the mattress buying clientele; consumers between the ages of 35-54 are about 32 percent; consumers 55 and older are about 33 percent.