By By the end of April, the price of mattress prices had fallen by a fifth, to $799, and the cost of a single bed by appointment was down nearly $200.
A study by mattress-brand retailer Sleep Town showed a steady decline in the number of people buying their beds at home and by appointment, from a peak of 10,000 beds per week in April 2015 to just 5,000 last month.
“We have been able to continue to invest in our mattress and bedmaking infrastructure to keep pace with rising demand for the products, including new mattress and sheetbed models that offer longer sleep cycles,” Sleep Town CEO and founder Adam Johnson said in a statement.
Despite this, the mattress market is not immune to the downturn, with several companies dropping their prices as well as others seeing their margins plummet.
According to research firm IDC, mattress sales fell 12% to $1.27 billion last year, and while the market for mattresses is still expanding, the industry is in the midst of a slowdown.
According to a recent report from brokerage firm Morningstar, mattress demand in the U.S. fell 7% in the first quarter of 2018, with a 9% drop in the quarter that ended March 31.
Sleep Town’s Johnson said the company will continue to ramp up production and sell more mattress units as the industry continues to recover.
But the industry has seen a steep decline in recent years, with manufacturers dropping production capacity and the number sleeping pads per bed dropping to the lowest levels in decades.
Many mattress manufacturers, including Lululemon Athletica, J.
Crew and American Apparel have closed stores, and retailers have closed some of their stores altogether.
The number of mattress manufacturers in the United States has declined by almost 70% since 2001, according to the National Federation of Independent Business.
With the global downturn in demand for mattress, and many retailers closing stores, the overall market for bedding may continue to shrink, but the industry itself will remain strong.
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