Market share estimates vary
By David Perry -- Furniture Today, March 21, 2004
HIGH POINT — HIGH POINT— How big is the specialty sleep category?
The International Sleep Products Assn., the bedding industry's leading trade association, has no official figures. That leaves it to bedding producers themselves to give it their best shot. And those shots cover a broad range of territory.
Estimates on the specialty sleep category's share of the total U.S. bedding market range from a low of 5% to a high of 20%. Conventional bedding producers often favor numbers on the lower end of the scale, and specialty sleep producers often lean higher.
Tempur-Pedic says that innerspring bedding accounts for approximately 80% of the U.S. market, which leaves specialty sleep with a healthy 20% share. That figure is backed up by consultants, according to David Fogg, president of Tempur-Pedic's retail division.
Denny Boyd, president of Boyd Specialty Sleep and a leader in that category, is working in the same ballpark. "My common sense tells me it's at least 15%," said Boyd. "It's probably more than that in profit dollars."
On the other end of the scale is Don Hofmann, vice president of new business development at Simmons, a company that addresses both the conventional and specialty sleep arenas.
"My gut tells me the specialty sleep category has gotten tremendous visibility and has seen some growth," he said. "But I don't know that it has become a major contributor (to the overall sleep category). It remains a niche." He puts specialty sleep's share in the 5% to 7% range.
Serta President Ed Lilly estimates that specialty sleep has a 5% market share in units, and perhaps a 10% share in dollars.
Spring Air President Jim Nation agrees the share in dollars could be as high as 10%, which represents "a breakthrough" for specialty sleep, in his view. In their heyday, waterbeds were only 5% of the market in dollar volume, Nation said.
"I think the (specialty sleep) share is around 10% to 12%," said Donna Favia, vice president of marketing services for Restonic. "That doesn't sound like a lot, but when you are offering beds at up to $2,000 and over, those are nice price points."
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